BB suspends Nagad’s digital banking license

Bangladesh Bank (BB) Governor Dr Ahsan H Mansur today informed that the digital banking license for Nagad Digital Bank PLC has been suspended and the central bank will review the process.

“The Nagad digital banking licence has been put on hold while we conduct a thorough review. If they qualify as per the central bank’s review process, they will receive the license,” he told reporters at a press briefing at the central bank headquarters in the city.

The central bank awarded the digital banking licence to Nagad in October last year.However, there have been allegations that the MFS service-providing entity availed the licence bypassing the existing rules following interventions by two influential persons linked to the recently ousted Awami League-led government. (BSS)