Nagad, the mobile financial service of the Bangladesh Postal Department, has entered a strategic partnership with Bengal Commercial Bank PLC to make digital financial transactions easier, faster, and more convenient for customers, a press release said.

Under the agreement, Nagad will maintain a Trust Cum Settlement Account with Bengal Commercial Bank. Additionally, various digital financial services, such as Add Money, remittance disbursement, and transactions through the National Payment Switch Bangladesh (NPSB), will become more seamless.

The signing ceremony took place at the head office of Bengal Commercial Bank in the capital’s Gulshan area on Sunday. K. M. Awlad Hossain, managing director of Bengal Commercial Bank PLC, and Md. Motasem Billah, the Bangladesh Bank-appointed administrator of Nagad, signed the agreement on behalf of their respective organisations.

This partnership is expected to boost business operations between the two institutions and streamline digital transactions for users. Beyond facilitating Add Money and NPSB services between Bengal Commercial Bank PLC and the Nagad Wallet, Nagad will help deliver inward remittances sent through the bank directly to families in remote parts of the country more quickly and easily.

The agreement will also simplify customer integration and onboarding processes for both entities, enabling broader financial inclusion and helping accelerate the growth of cashless transactions nationwide.

Speaking at the event, Nagad Administrator Md. Motasem Billah said, “Nagad’s network spans across every city, village, and neighbourhood from Teknaf to Tetulia. Customers can rely on Nagad anywhere for bill payments, cashouts, cash-ins, and all digital transactions.”

“Why should Nagad use this vast network alone? Instead, we want financial institutions like Bengal Commercial Bank to leverage our network to offer their services, such as nano-loans, EMIs, and DPS. I believe this will truly drive the country towards a cashless economy,” he added.

Bengal Commercial Bank Managing Director K. M. Awlad Hossain said, “This strategic partnership will make digital financial transactions easier, faster, and more secure by creating deposit and loan opportunities for our customers. At the same time, this initiative will play an important role in expanding remittance services and cashless transactions.”

The event was attended by Bengal Commercial Bank AMD & CBO Nasim Sekander, DMD & CTO Dr. Md. Rafiqul Islam, Nagad Senior Associate Administrator Probal Ahmed, Chief Financial Officer Afzal Ahmed, Head of Business Sales Md. Saidur Rahman Dipu, and Head of Remittance Department Md. Ahsanul Hoque Bashar, along with other senior officials from both organisations.

Nagad has been actively conducting various initiatives to encourage digital transactions and boost legal remittance inflows. Currently, users can make payments via the Nagad app at 10 lakh Bangla QR merchant outlets across the country.