Governor of Bangladesh Bank (BB), Dr. Ahsan H. Mansur, announced today that Nagad Digital Bank PLC’s license for digital banking has been revoked, and the central bank will be reviewing the procedure.
“The Nagad digital banking licence has been put on hold while we conduct a thorough review. If they qualify as per the central bank’s review process, they will receive the license,” he told reporters at a press briefing at the central bank headquarters in the city.
In October of last year, the central bank granted Nagad a license for digital banking.
Nevertheless, there have been claims that the organization offering MFS services obtained the license by circumventing the current regulations as a result of interventions made by two powerful individuals associated with the recently overthrown administration led by the Awami League.
