Nagad Logo. COURTESY
The mobile financial service arm of Bangladesh Postal Departmen, Nagad has started disbursing Honorable Prime Minister's financial assistance to 14.97 lakh families who lost their livelihood amid the ongoing Covid-19 crisis as Eid gift.
Each family listed by the government will receive the assistance Tk 2,500 with the cash-out charge under the G2P process and the second largest Mobile Financial Service firm Nagadwill complete the disbursement of the funds before Eid.
Today in a ceremony the Honorable Primer Sheikh Hasina launched the program from Ganabhaban, her official resistance, by sending financial assistance to 15 families of Chattagram, Bhola and Jaipurhatdistrict.
The program was conducted via video conferencing where deputy commissioners of the concerned districts participated along with the beneficiaries. Honorable Prime Minister's principal secretary (PM office) Ahmad Kaikaus hosted the event.
In the current phase, the HonorablePrime Minister is providing financial assistance to 33.39 lakh beneficiaries with the help of two other MFS providers beside Nagad. The state carrier will disburse 45 percent of the total funds of this phase while rest of the amount will be disbursed by the two other MFS providers combined.
In the opening day around 11,000 beneficiaries received the funds through their Nagad account.
Beneficiaries do not have to bear any additional cost in case of cashout of the sum. The government is paying Tk 15 for the total cashout cost, however, Nagad users will get the full cashout amount which is Tk 37.35. So while receiving the amount beneficiaries will found Tk 2,537.35 at their Nagad wallet which can be used for other purposes also.
Tanvir A. Mishuk, managing director ofNagad, said, during the Covid-19 situation the rest of the world is engaging their assistance to top taxpayers, but with her foresight theHonorable Prime Minister of Bangladesh is standing beside the people who lost their livelihood. Moreover, due to her increased interest in digital services, the beneficiaries are now getting government assistance on their mobile phones at home.
"I would like to thank the Honorable Prime Minister for trusting Nagad once again with the task of distributing the largest portion of the fund. We promise that the assistance will be delivered to all the beneficiaries maintaining the list given by the government in the most transparent manner. Nagad always operates in accordance with the rules of Bangladesh Bank and will continue to maintain that,”Mishuk said.
Last year before Eid the Prime Minister directed to distribute Tk 2,500 government assistance to each family and at that time Nagad also got the biggest chunk of 17 lakh beneficiaries for allocation.
Currently there are 4.10 crore users in Nagad and daily transaction crossed to Tk 400 crore on daily basis.
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