Postal Department Receives Tk 4.5Cr Revenue from Nagad

Nagad, the mobile financial service arm of the Bangladesh Post Office, has shared revenue with the Postal Department this year like every year.

The Postal Department has formally received Taka 4,50,46,000 as revenue from Nagad's earnings in the fiscal year 2021-22.

Nagad authorities handed over the cheque for the said amount payable to the Postal Department at a programme in the capital's Agargaon area today.

Secretary of the Posts and Telecommunications Division Md. Khalilur Rahman received the cheque from Nagad's Executive Director Md.Shafayet Alam. Posts and Telecommunications Minister Mustafa Jabbar, Director General of the Postal Department Md. Harunur Rashid, and Nagad's Founder and Managing Director Tanvir A Mishuk were present there.

Bangladesh Postal Department is entitled to getting 51 percent of the revenue earned by Nagad as per the agreement between Nagad and the Postal Department. The remaining (49 percent) will go to Nagad, said a press release. 

Earlier, Nagad handed over revenue amounting to Taka 1.12 crore in fiscal year 2019-20 and Taka 3.31 crore in fiscal year 2020-21 to the Postal Department.

Posts and Telecommunications Minister Mustafa Jabbar said, "In my opinion, Nagad's existence has saved country's thousand crore Taka... From the very beginning, we were with Nagad, we are and will be with them."

The minister also said that Nagad is a service of the postal department. "Nagad's achievements are our achievements. Nagad's growth is our growth. This is a bonus for us." 

Secretary of the Posts and Telecommunications Division Md. Khalilur Rahman said," I don't see any dissimilarity between postal department and Nagad, all is clear. Today's message will go to the media tomorrow and it will clear the rest."

Nagad's Founder and Managing Director Tanvir A Mishuk said, "In every year we share our revenue with the postal department. According to the agreement between Postal Department and Nagad today, we have shared 51 percent of revenues with postal department."