DHAKA, Bangladesh, July 10, 2024 /PRNewswire/ -- Nagad Ltd., a
leading fintech company in Bangladesh, and Huawei Technologies have
joined hands, to provide world-class smart transaction
experiences to customers through Nagad.
In the presence of Honourable Prime Minister Sheikh Hasina, both
parties struck the deal at the Shangri-La Hotel in Beijing on Tuesday (9
July 2024).
Following this agreement, Nagad Digital Bank PLC and Nagad's
existing MFS will be integrated with cutting-edge global
technologies, enabling customers to enjoy international-standard
digital financial services anytime, anywhere.
Founder and CEO of Nagad Ltd. Tanvir A Mishuk and Pan Junfeng,
president of Huawei South Asia Region and CEO of Huawei Bangladesh,
penned the agreement on behalf of their respective sides.
At the signing ceremony, Li Fei,
vice-minister of Commerce of the People's
Republic of China, highly praised Nagad's remarkable
contribution to Bangladesh's
economic growth and financial inclusion.
Regarding the agreement, Farid
Khan, chairman of Nagad Digital Bank PLC, 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
conveniently at affordable costs," he also said.
Marking the golden jubilee of diplomatic relations between
Bangladesh and China next year, Prime Minister Sheikh Hasina
began her China visit on
8 July 2024. During this visit, the
two countries signed several notable agreements and memorandums of
understanding, including the one between Nagad and
Huawei.
Eight years ago, when Chinese President Xi Jinping visited
Dhaka, Bangladesh, and
China elevated their bilateral
relations to a strategic partnership from trade and economic
cooperation. Later, during Prime Minister Sheikh Hasina's visit to
China in 2019, China was termed as a comprehensive strategic
cooperative partner in Bangladesh's development.
In the continuity of such cooperation, this agreement between
Nagad and Huawei is also significant in the global context of
digital transactions, which will lead to the introduction of
entirely new financial services and products in Bangladesh, thus transforming the trend of the
country's digital transactions.
About Nagad Ltd
(https://www.nagad.com.bd/)
Nagad Limited is one of the leading MFS operators in
Bangladesh with 90 million
registered customers and daily transactions of more than
$153 million on average. It has also
been recognised as the fastest unicorn startup by the Bangladesh government. The digital platform, a
successful public-private partnership between Bangladesh Postal
Department and the private sector, was inaugurated in 2019 by
Honourable Prime Minister Sheikh Hasina of the People's Republic of
Bangladesh.
Contact:
Lincoln Md. Lutforzaman
Sarker
Assistant Vice President
(AVP),
Media &
Communications,
Nagad Limited.
Email:
lincoln.lutforzaman@nagad.com.bd
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