Together, Nagad and Huawei Technologies want to revolutionize the way individuals engage in digital transactions.
In order to do this, the two sides inked a deal that will use Nagad to give the citizens of the nation access to top-notch smart transaction experiences.
The deal between Nagad Ltd. and Huawei Technologies was inked today at the Shangri-La Hotel in Beijing, with Prime Minister Sheikh Hasina in attendance.
As a result of this collaboration, state-of-the-art international technology will be integrated with Nagad Digital Bank and Nagad’s current mobile banking services.
As a result, customers of the country’s first digital bank will enjoy international-standard transaction services anytime, anywhere, said a press release.
On behalf of Nagad, its founder and CEO Tanvir A Mishuk signed the agreement.
The event was also attended by Finance Minister Abul Hassan Mahmood Ali, Foreign Minister Dr Hasan Mahmud, PM’s Private Industry and Investment Adviser Salman F Rahman, State Minister for Posts, Telecommunications, and Information Technology Zunaid Ahmed Palak and Chairman of Nagad Digital Bank Muhammad Farid Khan.
Pan Junfeng, president of Huawei South Asia Region and CEO of Huawei Bangladesh, signed the agreement on behalf of Huawei Technologies.
Several ministers and senior officials of the Chinese government were also present at the event.
At this time, Li Fei, vice-minister of Commerce of China, highly praised Nagad’s remarkable contribution to Bangladesh’s economic growth and financial inclusion.
Speaking about the agreement, Farid Khan, chairman of Nagad Digital Bank, said, “Nagad MFS has brought about a major revolution in Bangladesh’s financial sector over the past five years. Now is the time to take it to a global standard. Nagad and Huawei will jointly work to achieve this for Bangladesh. Nagad Digital Bank will play a unique role in this, which will significantly contribute to building a smart Bangladesh.”
“To ensure the technological development required for a 100 percent cashless society, we have signed this agreement with the world-renowned company Huawei Technologies. Through this, our MFS and digital bank customers in Bangladesh will enjoy world-class services causing digital transactions to become more comfortable and affordable,” he added.
Prime Minister Sheikh Hasina started her tour to China on July 8, one day before the diplomatic relations between Bangladesh and China celebrate their golden jubilee the next year.
This deal between Nagad and Huawei is important for the two nations’ continued collaboration, even in the global environment of digital commerce.
This arrangement will lead to the introduction of new financial services and products for Bangladeshi customers, which will eventually change the direction of the nation’s digital transactions.
The first digital bank in the nation, Nagad, was officially opened by Prime Minister Sheikh Hasina five years ago, and it recently got its license.
With 9 crore customers and daily transactions over Taka 1,800 crore, it has quickly grown to become one of the biggest MFS operators in the nation. Furthermore, Nagad has been acknowledged by the government as the fastest unicorn.
