In a major move aimed at boosting competition and investment in Bangladesh’s mobile financial services (MFS) sector, Bangladesh Bank Governor Ahsan H. Mansur announced that Nagad, currently operated under the Postal Department, will be transferred to the private sector. A formal notice seeking strategic investors is expected to be issued within the next week.
The announcement came during the ‘Cashless Bangladesh Summit 2025’, jointly organized by the Institute of Cost and Management Accountants of Bangladesh (ICMAB) and MasterCard, held at the Sonargaon Hotel in Dhaka on Wednesday.
“We still have only one major MFS player. To create a healthy, competitive ecosystem, Nagad must be opened up for private investment,” said Governor Mansur in his keynote speech. He emphasized the need for technology-driven strategic investors to acquire a significant stake in Nagad, enabling its transformation into a sustainable and competitive entity.
Postal Department No Longer Capable of Running Nagad: The governor noted that the Postal Department lacks the technical and operational capacity to run a modern financial technology service like Nagad. “A technology company should take the lead,” he added, indicating that the government is actively looking for a private partner to take over.
Past Irregularities Addressed: Mansur also stated that major reforms have already taken place within Nagad, including the elimination of nearly 15 million fake or invalid accounts that had plagued the system    (See Page-2)
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under previous management. “The restructuring process is underway, and the company is now on a path to recovery,” he said. Strategic Investors Wanted: Governor Mansur called for long-term strategic investors, similar to how bKash evolved over the years. “We need an investor that can grow with Nagad gradually, by holding shares and providing tech-driven solutions,” he said, expressing hope that Nagad could become a worthy competitor in the MFS space once again.
High-Profile Attendees: Other distinguished speakers at the summit included National Board of Revenue Chairman Md. Abdur Rahman Khan, Finance Secretary Khairuzzaman Majumder, and City Bank CEO Masrur Arefin, among others. 
The move is seen as a pivotal step toward achieving a truly cashless Bangladesh, with increased competition, better customer service, and expanded digital financial inclusion.