'Nagad is the safest platform for customers’ money'

Nagad in a rejoinder to a report titled "Nagad spells trouble for the post office, customers" published in The Business Standard's web version on August 27, 2022, and in print version on August 28, 2022, regarding Nagad, the mobile financial arm of Bangladesh Post Office, said the report has mentioned some partial information that doesn't clarify the clear picture of the issue.

In the report, some facts and assertions are presented in a manner that provides ample possibilities for consumers to be misled, said the rejoinder. 

"The report stated that Nagad had taken a loan of BDT 500 crore. According to Nagad's statement, the company obtained a loan from Exim Bank in February 2021, in order to operate the business effectively. The difference created in Nagad account because of Exim bank's unlawful adjustment of loan, which the bank cannot do from trust-cum-settlement account as per Bangladesh Bank's guideline, was later duly met up. Therefore there is no discrepancy between Nagad's e-money and physical money right at this moment, and the customers money is well protected. The writ petition against Exim bank withdrawn on 25 August 2022 by Nagad in reference of Bangladesh Bank.

"However, Nagad subsequently adjusted the loan when Bangladesh Bank issued a policy on May 6, 2021. At present, Nagad has no debts with any scheduled banks in Bangladesh.

We are assuring our well wishers and customers that Nagad is the safest platform for customers' money."