Nagad has surrendered its non-bank financial institution (NBFI) licence as most of its shareholders are for it to become a digital bank, said Tanvir A Mishuk, managing director of the mobile financial service (MFS) provider, yesterday.
Mobile financial services (MFS) provider Nagad has incurred a loss of Tk625 crore since its inception in 2018, mainly due to substantial promotional and administrative expenses, says a prospectus submitted to the Bangladesh Securities and Exchange Commission (BSEC). The company, which operates under an agreement with Bangladesh Post Office on the basis of sharing revenue
Bangladesh Bank yesterday issued a licence for Nagad Finance PLC to provide services as a non-bank financial institution (NBFI) in the country’s financial sector.