By FutureLaw Desk

Bangladesh Post Office is going to launch ‘Nagad’, a new digital financial service platform within the next couple of months with a view to enhancing financial inclusion to the most rural corners of the country. This platform will leverage the vast network of post offices across the country, in partnership with Third Wave Technologies, the software developer, under a public-private partnership model.

People will be able to access the service using mobile phones and other user-friendly financial tools, said Mohammad Solaiman, head of corporate and regulatory affairs of Third Wave Technologies.

The payment modalities, which are yet to be fixed, promise increased financial freedom with additional security and control. This platform is expected to take-over the disbursement of the government’s allowances and funds, and it also targets to engage about 2.5 lakh entrepreneurs.

With about 100 years of experiences in managing financial transactions, employees of the existing 9,886 post offices across the country will act as agents for Nagad.

Bangladesh Post Office has experience in facilitating financial transactions for the marginal population under different projects of World Bank, the International Committee of the Red Cross, the United Nations Development Programme, a2i, World Food Programme and others.