Nagad88, a state-owned mobile financial service in Bangladesh, is playing a significant role in driving digital financial inclusion. The company’s mission is to make banking and finance more accessible to all citizens, regardless of their social or economic status. To achieve this goal, Nagad88 has developed an innovative platform that allows users to conduct various financial transactions using their mobile phones.
One of the main ways Nagad88 promotes digital financial inclusion is by offering services that are easy to use and understand. This makes it possible for people who have never used banking services before to start managing their finances digitally. For example, users can easily open an account with just a national ID card and a phone number. They can then deposit money into their account through any Nagad Uddokta point across the country.
Moreover, nagad88 app provides its users with a wide range of services such as sending money to others, paying bills, buying airtime recharge for mobile phones and even purchasing goods from online stores. These features not only make life easier for individuals but also help small businesses operate more efficiently.
Another crucial aspect of Nagad88’s role in promoting digital financial inclusion is its commitment to affordability. The company offers some of the lowest transaction fees in the market which makes it an attractive option for low-income individuals who cannot afford traditional banking costs.
Furthermore, Nagad88 has been instrumental in facilitating government disbursement programs aimed at providing social safety net support during difficult times such as during natural disasters or pandemics like COVID-19. By partnering with the government on these initiatives, Nagad88 ensures that aid reaches those who need it most quickly and securely.
In addition to these efforts towards inclusivity within Bangladesh itself, Nagad’s international remittance service helps connect Bangladeshi expatriates around the world with their families back home. This service not only enables them to send money home safely and conveniently but also contributes significantly towards boosting the country’s foreign exchange reserves.
Nagad88’s efforts have not gone unnoticed. The company has been recognized both locally and internationally for its contribution to digital financial inclusion. For instance, it received the ‘Best Mobile Financial Service Award’ at the Bangladesh Brand Forum (BBF) Digital Summit 2020.
In conclusion, Nagad88 is playing a transformative role in driving digital financial inclusion in Bangladesh by making banking services accessible, affordable and convenient for everyone. As more people join the digital economy through platforms like Nagad88, we can expect to see significant improvements in economic growth and social equality across the nation.
