Nagad, the mobile financial service of the Bangladesh Postal Department, has signed a strategic partnership agreement with Citizens Bank PLC to make financial transactions smoother, faster, and more convenient for customers, a press release said.

Under the partnership, the two entities will collaborate on Trust Cum Settlement Account, Add Money services, inward remittances, and transactions through the National Payment Switch Bangladesh (NPSB).

The signing ceremony was held recently at the head office of Citizens Bank PLC in the capital’s Motijheel area. In the presence of Citizens Bank Managing Director Alamgir Hossain and Nagad Senior Associate Administrator Syed Himyanuddin Ahmed, Nagad Chief Financial Officer Afzal Ahmed, FCA, and Citizens Bank Deputy Managing Director Md. Abdul Latif signed the agreement on behalf of their respective organisations.

The agreement will expand business collaboration between the two institutions. Alongside Add Money features from Citizens Bank to Nagad wallets and NPSB services, Nagad will deliver inward remittances sent through Citizens Bank directly to beneficiaries in remote areas across the country. Simplifying customer integration and onboarding will bring more people under digital financial services, accelerating the country’s transition toward a cashless economy. Nagad currently holds Trust Cum Settlement Account agreements with 41 banks nationwide.

Highlighting the partnership, Syed Himyanuddin Ahmed, senior associate administrator of Nagad, said: “To ensure fast and uninterrupted digital financial services for our customers, strengthening our partnerships with banks is essential. That is the purpose of this strategic alliance with Citizens Bank. We believe such partnerships will make digital transactions easier for users and broaden the path toward a cashless economy.”

Alamgir Hossain, managing director of Citizens Bank PLC, said: “We aim to leverage Nagad’s extensive nationwide network to bring our banking services to people’s doorsteps. In the future, we plan to distribute various services, such as nano loans, through Nagad. Nagad is working for the benefit of the nation, and we look forward to introducing more customer-centric services together.”

The event was also attended by Nagad Senior Associate Administrator Probal Ahmed ACA, Associate Administrator Md. Ajharul Haque, Head of Treasury and Merchant Operations Abid Khan, Head of Distributor Management and SOC Debabratha Kumar Chanda (Palash), Head of Business Sales Md. Saidur Rahman Dipu, and Head of Remittance Md. Ahsanul Hoque Bashar.

Representing Citizens Bank PLC were Deputy Managing Director Md. Mostafizur Rahman, Chief Financial Officer Mohammad Saiful Islam, Head of Principal Branch Abdur Rouf Bhuiyan, Executive Vice-President Mazibur Rahman, and Head of SMR Bijoy Chandra Das, alongside senior officials from both organisations.

Nagad continues to drive initiatives to encourage legal remittance inflows and boost digital transactions. By introducing Bangla QR payment services and enabling NPSB facilities, Nagad has expanded cashless transaction capabilities. Customers can make payments across 1 million Bangla QR merchants using the Nagad app, while NPSB connectivity makes digital transactions between banks and other financial services seamless.