BB allows Nagad to surrender NBFI licence

Bangladesh Bank today accepted Nagad's application to surrender its licence to run as a non-bank financial institution (NBFI).

The central bank's decision came from a board meeting, BB's Executive Director and Spokesperson Md Mezbaul Haque told The Daily Star.

On August 1 this year, Nagad Managing Director Tanvir A Mishuk said to the journalists that Nagad had surrendered its NBFI licence as most of the shareholders of the company want to establish it as a digital bank.

Nagad received the NBFI licence from the banking regulator in May this year.