Bangladesh Bank appoints administrator to oversee Nagad

Six more officials of the central bank will assist the administra

The central bank has appointed an administrator to oversee Nagad, a mobile financial service company, for one year.

The administrator, who will supervise the digital transaction service, will be assisted by six other officials from central bank.

The central bank made the announcement in an internal order on Wednesday.

Mezbaul Haque, the executive director of Bangladesh Bank, told bdnews24.com: “The administrative activities will be carried out by the newly appointed administrators from now on.”

Bangladesh Bank Chattogram Office Director Muhommad Badiuzzaman Dider has been appointed as the administrator for one year, said Mezbaul.

Six officers have also been appointed to assist Dider.

They are – Additional Director of Payment System Dept Md Habibur Rahman, Joint Director Anwar Ullah, Palash Mandal, Deputy Director Chayan Biswas, Md Ayub Khan and Joint Director of Motijheel Office Abu Sadat Mohammad Yasin.

Nagad Managing Director Tanvir A Mishuk has welcomed the appointment of the administrator in the company.

“We welcome the decision taken by Bangladesh Bank. We believe this will put an end to all the controversy surrounding Nagad,” said Mishuk.

He added this will be a significant step towards building a cashless Bangladesh.

The decision to appoint an administrator comes two days after the central bank wrote to the foreign ministry to inquire about the details of the founders of Nagad Digital Bank.