About Tk 2,400cr disbursed to around 1.59cr beneficiaries in May
Beneficiaries have continued to place their trust in mobile financial service provider Nagad for receiving government allowances under various government social safety net programmes, the Prime Minister’s Education Assistance Trust, Family Card programme, and other initiatives, a press releases said.
Since May 1 this year, Nagad has successfully disbursed about BDT 2,400 crore to around 1.59 crore beneficiaries under various government initiatives.
During this period, the largest number of beneficiaries received government assistance under the fourth instalment of the Social Safety Net (SSN) programme. Through this programme, more than BDT 1,500 crore was distributed to over 78.51 lakh beneficiaries.
In addition, Nagad disbursed more than BDT 579 crore among nearly 69 lakh students under the Primary Education Stipend Program (PESP).
Under the Ministry of Women and Children Affairs’ Mother and Child Benefit Programme, nearly BDT 97.5 crore in government allowances was distributed through Nagad to around 12 lakh beneficiaries.
Besides, funds under the Primary Education Stipend Program (PESP), the EGPP Plus/BCRSR projects under the Department of Disaster Management (DDM), and the Prime Minister’s Education Assistance Trust (PMEAT) were also distributed through Nagad. Under these initiatives, Nagad successfully delivered more than BDT 13 crore in government assistance to over 20,000 beneficiaries.
Moreover, Nagad recorded the highest number of beneficiaries and the largest volume of government allowance disbursements under social safety net programmes during the first quarter (January–March) of this year. During the quarter, more than 13.1 million beneficiaries received nearly BDT 2,900 crore in government allowances through their Nagad accounts. This amount was BDT 300 crore higher than the corresponding period of the previous year.
Commenting on the successful disbursements, Chief Corporate Affairs Officer of Nagad Md Samsul Islam said, “Nagad has consistently served as a reliable platform for disbursing government allowances, stipends, and financial assistance under various welfare programmes. We are grateful that so many beneficiaries continue to choose Nagad as their preferred channel. Our technology-driven services, accessibility, and the country’s widest digital financial network enable government funds to reach beneficiaries quickly and securely.”
Since its inception, Nagad has played a significant role in ensuring transparency, efficiency, and accessibility in the distribution of government assistance. With convenient cash-out facilities even in remote areas and free-of-cost transactions for beneficiaries, Nagad has become one of the preferred channels for receiving government allowances and stipends across the country.
