The central bank of Bangladesh has appointed Muhammad Badiuzzaman Dider as the administrator of mobile financial service provider Nagad.

The Bangladesh Bank (BB) made the announcement through a circular issued on Wednesday (August 21).

Muhammad Badiuzzaman, who previously served as a director at Bangladesh Bank's Chattogram office, will hold the administrator position for a one-year term.

Nagad, which entered the market in March 2019, has been operating with a temporary licence from Bangladesh Bank—a rare situation in the country's financial sector. The central bank has extended Nagad's temporary licence for the seventh time, with the current extension set to expire in June next year.

BDST: 2127 HRS, AUGUST 21, 2024
MSK