Bangladesh Bank approved Nagad Digital Bank PLC as the country's first full-fledged digital bank.
Bangladesh Bank approved Nagad Digital Bank PLC as the country's first full-fledged digital bank, focusing on cashless transactions, micro savings schemes, and single-digit interest loans without collateral. The central bank granted Nagad as a scheduled bank and exempted it from certain provisions of the Bank Company Act. Other entities also received letters of intent for full-fledged digital banks.
June 03, 2024
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