Bangladeshi mobile financial service provider Nagad Ltd and Huawei Technologies have signed an agreement, which will provide world-class smart transaction experiences through Nagad.
The agreement was signed in the presence of Prime Minister Sheikh Hasina at the Shangri-La Hotel in Beijing on Tuesday, according to a press release.
Following this agreement, Nagad Digital Bank and Nagad’s existing mobile financial services will be integrated with cutting-edge global technologies. As a result, customers of the country’s first digital bank will enjoy international-standard transaction services anytime, anywhere, it said.
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Nagad founder and CEO Tanvir A Mishuk and President of Huawei South Asia Region and CEO of Huawei Bangladesh Pan Junfeng signed the agreement on behalf of their respective organisations.
Finance Minister Abul Hassan Mahmood Ali, Foreign Minister Dr Hasan Mahmud, PM’s Private Industry and Investment Adviser Salman F Rahman, State Minister for Posts, Telecommunications, and Information Technology Zunaid Ahmed Palak and Chairman of Nagad Digital Bank Muhammad Farid Khan, were present at the time.
Several ministers and senior officials of the Chinese government were also present at the event.
At the time, Li Fei, Chinese Vice-Minister of Commerce, praised Nagad’s contribution to Bangladesh’s economic growth and financial inclusion, said the media release.
Farid Khan, Chairman of Nagad Digital Bank, 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.”
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“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 causing digital transactions to become more comfortable and affordable,” he also said.
Prime Minister Sheikh Hasina began her China visit on July 8. During this visit, several notable agreements and memorandums of understanding are being signed between the two countries, added the release.