Nagad Finance PLC gets new NBFI license

The Bangladesh Bank (BB) on Wednesday issued a notification granting license to 'Nagad Finance PLC' to operate as a new non-bank financial institution (NBFI).

Earlier, the board of directors of BB gave final approval to Nagad Finance at a board meeting.

The Financial Institutions Department of Bangladesh Bank issued the notification on Wednesday (17 May). Now Nagad Finance has no obstacles in running its business operations.

The central bank's notification reads, "Nagad Finance's address is Delta Dalia Tower, 36 Kamal Ataturk Avenue, Banani. Mobile financial services company Nagad also has the same address. The board of directors of financial institution Nagad Finance includes the individuals and officials who own mobile financial services company Nagad."