The Postal Department on Thursday called for an end to the ongoing propaganda against Nagad in the media and social networking platforms following some recent issues.

In a video message, Director-General of the Postal Department Siraz Uddin said Nagad is a mobile financial service run on the basis of a revenue-sharing model with the postal department that has financially included about 5.5 crore people of the country in just two and a half years.

“The postal department signed an agreement with Third Wave Technologies Limited in 2017, and Nagad has been providing services on the basis of that deal. I want to say unequivocally that there’s no room for misleading people about the ownership of Nagad and the partnership with the postal department,” he said.

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Siraz said the postal department and the Nagad authorities are now in the process of moving towards the ownership from the partnership as per the instructions of the Bangladesh Bank.

“Based on the agreement between the two parties, the postal department is going to own 51 percent of the share and Nagad Limited will own 49 percent of the share. The matter is now awaiting approval under the state law. I hope no one will mislead people by providing fabricated information in this regard,” he said.

The DG said Nagad is a new financial service provider of the century-old state postal department. “The unimaginable success of the company in just two and a half years has given rise to jealousy among many. So, many people are conspiring against Nagad. The probe report of the Police Bureau of Investigation (PBI) can be specifically mentioned here as evidence.”

Siraz said Nagad has been able to break the monopoly of the MFS market. “That’s why many people are spreading rumours and misleading information against Nagad. We hope that everyone will refrain from such vile and ill-conceived attempts in the future. We’re always ready to foil any rumour and propaganda for the smooth progress of a state service. Everyone should remember that spreading any rumor and lie against state services is a serious state crime.”

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He said there has been some news in the media about the trust-cum-settlement account. “Nagad always opens new bank accounts with the approval of the postal department. I think it’s an ongoing process. There’s no reason for anyone to be confused by this letter.”

Urging the customers to stand by Nagad instead of being distracted, the DG said some accounts have been temporarily suspended recently because of the faults of several e-commerce platforms, and this information has been communicated to the appropriate authorities and law enforcement agencies. “The process to reactivate the accounts after review has already begun. We sincerely apologise for the temporary inconvenience.”

Nagad has successfully digitalized the disbursement of various government allowances. On average, BDT 700 crore is transacted through Nagad every day.