Mobile financial service (MFS) provider Nagad and Islami Bank Bangladesh have teamed up to help customers make seamless financial transactions – from add-money to DPS instalments to remittance transfers – through their Nagad wallets. Also, customers will be able to avail of Nagad and Nagad Islamic services using Islami Bank's CellFin app. The MFS provider and Islami Bank recently struck a partnership agreement at a city hotel. Posts and Telecommunications Minister Mustafa Jabbar, Managing Director and CEO of Islami Bank Muhammad Munirul Maula, Founder and Managing Director of Nagad Tanvir A Mishuk were present at the ceremony. Read: BCMEA to host 3-day International Ceramic Expo from Nov 24 From now on, users can add money to their Nagad and Nagad Islamic wallets instantly from their Islami Bank accounts without any charge. Also, they can pay DPS instalments to Islami Bank as well as transfer remittances to Nagad accounts. Jabbar said: "Today we are happy that an institution like Nagad has partnered with Islami Bank. Nagad's collaboration with Islami Bank has also set a good example to others." Munirul Maula said: "Nagad has onboarded 6.5 crore customers only in three and a half years. It has introduced Islamic services, which is the need of the hour." Tanvir Mishuk said: "I thank Islami Bank for beginning a journey with Nagad. Banks cannot take services to people’s doorsteps, but platforms like Nagad can do that. We want to give smart cards to our 6.5 crore customers next year." Customers will get a Tk30 mobile recharge if they make an add-money transaction of Tk3,550 to their Nagad and Nagad Islamic wallets from Islami Bank accounts. A customer will be able to enjoy this offer once. The offer will remain valid till November 30. Nagad has been expanding the scope of its "Bank to Nagad" add-money service to provide consumers with "faster and improved services." Internet banking users can instantly transfer money to their Nagad accounts without any charge. Nagad customers now can avail of the add-money service from more than 30 banks.  

Nagad Islamic has come up with a variety of services including introducing hotline numbers for the pilgrims in preparation for the upcoming holy Hajj. From now on, Hajj pilgrims will be able to acquire all types of information regarding the holy Hajj on this platform, which is operated under the complete supervision of the Shariah Supervisory Committee. Additionally, all inquiries or confusions about Hajj will be answered on the hotline numbers, Nagad said in a statement.   As a part of the initiative, Nagad Islamic has organised all the features and facilities necessary for a pilgrim to perform Hajj completely and purely according to Islamic guidelines. According to the statement, Nagad Islamic has set up a unique booth for Hajj pilgrims in Ashkona Hajj Camp on the occasion. In case of any Hajj-related emergency, anyone can call the two hotline numbers listed in the guideline: +8801786083074 (Imo) and +8801793407044 (WhatsApp). Pilgrims will be able to communicate directly with H M Shahidul Islam Barakati via these hotline numbers for any Hajj-related information. In addition to facilitating instant Shariah-compliant transactions during the Hajj journey, each Hajj pilgrim has been provided with a special handout or guideline containing a brief explanation of the holy Hajj and Umrah, Ihram, Tawaf, Hajj Fajr, and Wajib. Also Read: Nagad bags Visa 'Excellence in Fintech' award Besides, keeping in mind the convenience of Hajj and Umrah performers, the ‘Nagad Islamic’ app and website have been arranged with a series of contents related to Hajj. As a part of it, eight special episodes of detailed video content on Hajj have been included on the Nagad Islamic website. Each 10-minute content contains all the guidelines for performing Hajj. Pilgrims will not face any problems or confusion if they look at the contents before Hajj at their convenience. All contents in Nagad Islamic are approved by the Islamic Foundation. Rahel Ahmed, Chief Executive Officer of Nagad and a member of the Shariah Supervisory Committee, said, "We have come up with these special services for esteemed pilgrims as we have been conducting Shariah-based transaction services in this country for the last three years. We believe that our initiative will benefit the Hajj pilgrims to some extent.”

Nagad Islamic has introduced several features, including a zakat calculator and a range of Islamic lifestyle services on its app and website. Using their mobile phones, customers will now be able to calculate their zakat accurately. To do so, they will have to first select the zakat calculator option on the Nagad Islamic website. Also read: Nagad wins 'Best Innovative Digital Financial Services Brand' award Then the customers will be required to enter the value of their assets for the whole year, including yearly income, investment, gold, and loans. Next, the precise amount of zakat will be generated automatically as the customers click on the calculate button. The service will also be available on the Nagad app soon. Through Nagad Islamic, run under the Nagad Shariah Supervisory Committee, customers will also be able to donate zakat regularly. Also read: Nagad organises workshop on money laundering & crime control The Nagad Islamic account has been in operation for the last three years, assuring Islamic financial management for the customers. Customers are using this interest-free mobile financial services account to make donations, payments for hajj tours and travels, and Islamic insurance.

This Islamic account of Nagad, the mobile financial service of the postal department, has been operating under the complete supervision of the Shariah monitoring committee. Customers can easily manage their funds in an interest-free and Shariah-compliant manner, thus preserving their religious values and provisions through this Islamic account. Read:Nagad launches service for paying land-related fees Customers interested in this service have easily converted their regular Nagad account into an Islamic account. In order to make the transition, customers have to click on the ‘My Nagad’ option in the Nagad app and then click on the ‘Nagad Islamic’ option as the type of account. If the Nagad app turns green, a customer will realize that his or her account has been successfully converted to an Islamic account. Customers are enjoying all the services of the free account in just a few seconds from the conveniences of their home. Rahel Ahmed, Chief Executive Officer of Nagad, said, “Many devout citizens were excluded from the financial system due to a lack of reliable and trustworthy Shariah-compliant services. This ‘Nagad Islamic’ account is for that religious Muslim community that has been operating in a transparent, reliable and fully Islamic manner.” “We will continue to work hard to expand this service,” he added. Read: ‘Nagad’ eases payment procedure of DMCH Nagad Islamic account has already gained traction among Muslim customers. Customers save their hard-earned money in the account without any interest as it is governed by Shariah principles. Moreover, customers are digitally paying their Zakat and making all donations instantly. Devout Muslims can easily pay for expenses, including for Hajj and Umrah travel through this account. As a result, the suffering of the pilgrims is coming to an end and the fund management during their travel is becoming easier.