Nagad Islamic wins ‘Best Innovation in other financial institution awards’

At the fifth Bangladesh Innovation Award ceremony in 2023, Nagad Islamic won the prize for “Best Innovation in Other Financial Institutions” in appreciation of its creative thinking and success in launching the nation’s first and only mobile banking service that complies with Shariah.

The renowned award presentation, which was made by GPH Ispat in partnership with The Daily Star and Aspire to Innovate (a2i), took place yesterday at a major hotel. As the event’s chief guest, Zunaid Ahmed Palak, state minister for the ICT Division, was present.

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The award was accepted on behalf of Nagad by the chief corporate affairs officer Sheikh Aminur Rahman, the chief marketing officer Sadat Adnan Ahmad, the director of public affairs Muhammad Solaiman, the general manager of digital planning and GTM Abu Sufian Mohammad Khaled, and the manager of corporate communications Ariful Alam.

Expressing his reaction after winning this award, Mohammad Aminul Haque, executive director of Nagad and member of the Shariah Supervisory Committee of Nagad Islamic said, “It’s a great honour for us.”

“We’re happy that such an initiative that offers the people the Shariah-compliant payment solution has got recognition,” he added.

With 26 winners and 23 honorable mentions, the main award banquet honored 49 innovations. It was preceded by the 4th edition of the Bangladesh Business Innovation Summit.

Aspire to Innovate (A2i), the Directorate of National Consumer Rights Protection (DNCRP), 4A Yarn Dyeing Limited, Frobel Academy, Bangla Iskool & Singularity Limited, ACI Limited, Hishab Technologies, Mastercard, and Green Delta Insurance Company Ltd. are among the other winners in various categories.

More than 500 specialists from the business and professions attended the award ceremony.

For the prize in 21 categories this year, more than 300 nominations from more than 100 organizations were made. The most reputable industry experts participated in nine tough jury meetings to pick each of the nominated campaigns, ensuring that the selection process was fair, transparent, and devoid of bias.

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