Nagad to go private, investor hunt to begin within a week: BB governor

To increase competition in the mobile financial services (MFS) sector, the government has decided to privatise the state-run MFS provider Nagad, Bangladesh Bank Governor Ahsan H Mansur has announced.

He said an advertisement will be issued within the next week to invite potential investors for the company.

The governor made the disclosure while addressing the “Cashless Bangladesh Summit 2025”, jointly organised by the Institute of Cost and Management Accountants of Bangladesh (ICMAB) and Mastercard at Sonargaon Hotel in Dhaka today (Wednesday).  

Speaking as the chief guest, Ahsan H Mansur said, “Unfortunately, we still have only one major MFS operator in the country. To ensure more activities, competition and new investments in this sector, the decision has been taken to transfer Nagad to the private sector and attract investment.”

He further stated that Nagad would be shifted out of the control of the Post Office, as the department currently lacks the capacity to operate such services.

“A technology company will have to be brought in as the major shareholder of Nagad,” the governor added.

Highlighting the growing reliance on cash, he said, "The cost of printing cash is increasing by 10%, or around Tk 2,000 crore, every year. If this continues, how can this be a digital economy?"

The summit brought together stakeholders from the banking and fintech sectors, regulatory bodies, and policymakers to discuss the prospects, challenges, and necessary steps for building a cashless economy, according to a BSS report.

Secretary of the Information and Communication Technology Division Shish Haider Chowdhury attended the event as special guest.

In the first session, Bangladesh Policy Exchange Chairman and CEO Masrur Riaz delivered a keynote speech on "Building a cashless economy: critical role of fintechs."

He said Bangladesh could learn from the digital transformation experiences of countries such as China, India and Sweden.

He suggested that the government and regulators enable wholesale and corporate digital payments, support innovation, and invest in infrastructure to strengthen the digital transaction ecosystem.

The session was moderated by Zeeshan Kingshulk Huq, chief commercial officer of United Commercial Bank, the BSS report adds.