Padakhep Manabik Unnayan Kendra, a non-government organisation, has partnered with Nagad, a mobile financial service of Bangladesh Postal Department, to facilitate payments of loan instalments and savings for its customers.
To this end, an agreement was recently signed between the two organisations at Nagad's head office in the capital's Banani, said a press release.
Customers of Padakhep Manabik Unnayan Kendra's branches across the country can pay microcredit instalments and deposit savings weekly or monthly via the Nagad app or USSD *167# or Nagad Uddokta from anywhere and at any time.
On behalf of Nagad, Sheikh Aminur Rahman, chief business officer, Mohammad Mahbub Sobhan, head of the Payment Division, Tanvir Chowdhury, head of the MFI and Government Sales Operation Department, and Key Account Manager Hasna Mohsin were present at the contract signing ceremony.
On the other hand, Executive Director Md Saleh bin Sums, Director (Microfinance, Program and Enterprise) Muhammad Risalat Siddique, deputy Director Abul Kalam Azad, Senior Assistant Director Shafiqul Islam and Senior Manager Md Emdadul Haque represented Padakhep Manabik Unnayan Kendra at the event.
According to the media release, under this partnership, the unbanked people of remote areas can easily avail of digital financial services, and small and medium entrepreneurs will be able to make necessary transactions.
Sheikh Aminur Rahman, the chief business officer of Nagad, said, "Nagad has already brought about revolutionary changes in the country's financial sector. This deal with Padakhep will allow marginalised people to repay their microcredit instalments as well as make savings deposits more conveniently through Nagad."
"Nagad will never ask for a secret PIN or OTP from any customers with respect to any payments – be it loan instalments or savings deposits – to Padakhep Manabik Unnayan Kendra. So, the secret PIN or OTP can never be shared with anyone," the media release added.