The Department of Social Services has signed an agreement with mobile financial services provider (MFS) Nagad to disburse 75 percent of the total allowance of the government's social net programme. A tripartite agreement was signed at the Ministry of Social Welfare Thursday. According to the agreement, Nagad will distribute 75 percent of the total allowances stated by the government-to-person system under the social safety net programme. Read: Islami Bank Securities holds 12th AGM Sheikh Rafiqul Islam, director general of the Department of Social Services, Md Siraz Uddin, director general of the Department of Posts, and Md Shafayet Alam, executive director of Nagad, signed the agreement. Last year, the Department of Social Services disbursed an allowance to 76 lakh and 13,000 recipients out of 88 lakh and 50,000 beneficiaries through Nagad and another MFS. This time, the allowance will be distributed in the same manner. The elderly, widowed, impoverished disabled people and disabled students will continue to receive the stipend through Nagad. Read: Biman hopes to launch regular Dhaka-Toronto commercial flights from June Earlier, Nagad disbursed funds to 75 percent of all beneficiaries under these four programmes. Third gender people and the Bede community will also receive the allowances in this phase.

Nagad, the fastest growing digital financial service of the country, and another mobile financial service provider bKash will disburse government’s allowances under various social safety net programmes among 76.13 lakh beneficiaries out of a total of 88.50 lakh.