Nagad gets 6 more months to win full BB licence
Nagad has been granted six more months to fulfil the conditions of the central bank to become a full-fledged mobile financial services provider.
This is the fifth time the Bangladesh Bank has extended its temporary approval for the MFS provider, which brands itself as the digital financial arm of the Bangladesh Post Office.
Nagad applied for the extension as its license to conduct business was set to expire on 30 September.
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Bangladesh Bank Executive Director Sirajul Islam told The Business Standard, "Bangladesh Bank has considered Nagad's request to extend its license and granted it another six months."
Since its beginning on 26 March 2019, Nagad has been branding itself as a state-run MFS provider, with the Bangladesh Post Office having the ownership of it.
From the get-to, the MFS provider was operating as "Third Wave Technologies Ltd". But, the company has officially changed its name to Nagad Limited recently.
