The central bank has renewed the interim licence of Nagad for another six months so that the MFS can fulfil the conditions of the central bank to become a full-fledged mobile financial services provider.
Nagad applied for the extension as its license to conduct business was set to expire on 30 September.
Since its beginning on 26 March 2019, Nagad has been branding itself as a state-run MFS provider wing of Bangladesh Post Office.
The MFS provider was operating as “Third Wave Technologies Ltd”. But, the company has officially changed its name to Nagad Limited recently.
Its 5.45 crore customers transact around Tk 700 crore daily.