From now on as the only mobile financial service, Nagad Limited will distribute the allowance of Prime Minister's Education Assistance Trust.
On Sunday, a tripartite agreement was executed between the Prime Minister's Educational Assistance Trust, Bangladesh Postal Department and Nagad Limited at the Bangladesh Secretariat.
According to this agreement, the Bangladesh Postal Department's digital service cash will distribute this allowance as the only mobile financial service, reads a press release.
Education Minister Mohibul Hasan Chowdhury, MP was present at the signing ceremony as the chief guest. Since 2016, this allowance has been distributed through digital channels as well.
The Prime Minister's Education Assistance Trust Authority has stated that due to the success of Nagad in transparently distributing various allowances such as social security allowances and primary education stipends, they have given the sole responsibility to this digital service of the Postal Department. Additionally, if multiple mobile financial services were given the responsibility, it would be complicated to keep track of the accounts and ensure accountability. This is why they have chosen this single institution.
Representing Nagad Ltd, its Executive Director Md Shafayet Alam said, "Nagad does not work solely for business. As a partner of the government, we are working to deliver digital services to the country's remotest parts. As part of this, Nagad is successfully disbursing allowances for 27 ministries. This time, we have been given the responsibility as the sole MFS for distributing allowances from the Prime Minister's Education Assistance Trust. We aim to live up to this trust that it has put in us."
It is noteworthy that Nagad first began its disbursement activities with PM's special assistance during the pandemic. Subsequently, its transparency and success in distributing social safety net allowances and primary education stipends encouraged various ministries to choose Nagad.
