HC issues rule on legality of Bangladesh Bank’s appointment of administrator for Nagad

The High Court has issued a rule questioning why the appointment of an administrator by Bangladesh Bank to oversee the mobile financial service Nagad should not be declared illegal and unlawful.

The court issued this order on Tuesday (September 17) following a hearing of a writ petition. The bench, comprising Justice Farah Mahbub and Justice Muhammad Mahbub Ul Islam, issued the rule.

Senior lawyer Barrister Jamir Uddin Sircar represented the petitioners, accompanied by senior lawyers Barrister Ruhul Quddus Kajol, Barrister Mustafaizur Rahman Khan, and Barrister Naushad Jamir, reports UNB.

The Attorney General of Bangladesh, Md. Asaduzzaman, represented the Bangladesh Bank in court.

On August 21, Bangladesh Bank appointed an administrator and support staff for Nagad, the digital financial service of the Postal Department. Mohammad Badiuzzaman Didar, a director at the Bangladesh Bank’s Chattogram office, was appointed as the administrator.

A writ petition challenging the appointment of Md. Safayet Alam, the executive director of Nagad, was filed with the High Court on September 10.

It is notable that Nagad officially began operations in March 2019 through an agreement with the Postal Department in 2017.