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Students' parents of six districts' 655 schools received stipends and allowances for educational accessories in their Nagad wallets in the first phase.
Also, the Directorate of Primary Education (DPE) will provide stipends and allowances among 1.40 crore students this year through Nagad.
Also read: Nagad to disburse 75 percent of social safety net allowances
Post and Telecommunication Minister Mustafa Jabbar, and State Minister for Primary and Mass Education Md Zakir Hossain inaugurated the fund distribution programme at the secretariat.
The disbursement was halted for almost a year because of non-transparency and inertia in the distribution system.
Next, following the instruction of Prime Minister Sheikh Hasina, the DPE signed an agreement with Nagad on December 13, 2020.
Also read: Daily transactions on Nagad surges past Tk 200 cr
Following the agreement, students are being registered on the digital platform with their birth certificate, mobile phone number, and their parents' NID number.
So, the funds are instantly being transferred to the Nagad account of the students' guardians. Beneficiaries are also receiving the cash-out charge along with the stipends and allowances.
And once a student's name is added to Nagad's database, the government and student will be able to use the information until their graduation.
Also read: Nagad, Southeast Bank, Mastercard Launch ‘Add Money’ Service
To ensure transparency and accountability of the process and raise the efficiency of public money, only the first graders will be added to the database at the beginning of each year.