Nagad starts financial inclusion bid for 5 crore users

Bangladesh Post Office’s financial service “Nagad” has teamed up with telecom operator Robi Axiata Limited (Robi-Airtel) to officially start the process of bringing its 5 crore customers into financial inclusion, says a press release.

Through the development, a groundbreaking example has been set in the history of financial inclusion across the world. “Nagad” and the mobile phone operator inked a deal in this regard. From now on, the telecom company’s consumers can turn into “Nagad” users setting respective pin codes following proper ways in no time. It may take each consumer of the mobile phone operator a maximum of 10 seconds to become the client of “Nagad”.

Furthermore, any new user may win Tk 100,000 just commenting on the official Facebook page of “Nagad” after making a cash-in of any amount within 36 hours into registering with the financial service. Plus, Tk 25 is surely there for the customers.

Robi and Airtel SIM card users can open a “Nagad” account in a few seconds setting respective pin codes after following relevant steps downloading the designated mobile app or texting at *167# to get Unstructured Supplementary Service Data, well known as USSD.

However, considering the ongoing humanitarian crisis owing to the Covid-19 pandemic, 5% money of the “Nagad-e Lakhpati” campaign will be donated to another campaign “manush bachle desh bachbe (if the people survive, so will the country)” aimed at helping contain the spread of the new strain of coronavirus.

This apart, Robi and Airtel users can also recharge their mobile phones through “Nagad”. Also the new Nagad customers using Robi and Airtel SIM cards will be entitled to a number of offers. Please, keep an eye on Nagad’s official Facebook page for details in this regard.

In the wake of the ongoing Covid-19 crisis, the prime minister has taken measures to disburse Tk 2,500 in cash to as many as 50 lakh low-income families each. As an assisting platform of the government in the process, “Nagad” will send the sum of money to 17 lakh families-the highest by any mobile financial service (MFS) provider in the country. 

Through this, the government organization will send Tk 425 crore to the beneficiaries in a few seconds, who won’t be charged while withdrawing the money.

In addition, more than a million “Nagad” accounts have been opened by apparel workers to receive the money the government recently announced as an incentive to ensure their salaries and allowances. 

The timely and priceless decision will greatly help the country’s low and middle income groups come under financial inclusion, thus, contributing massively to attain the sustainable development goal or SDG. This will also pave the way to a new chapter of “digital revolution” in the country, which will come extremely handy for Bangladesh to become a middle income country. 

Following the contract with the telecom operator, “Nagad” will be able to have about 7 crore registered customers within a short period-something remarkable in the global MFS arena. The development will also push “Nagad” to go an extra mile towards being the top MFS provider in the country.