BB detects Tk2,300 crore irregularities in Nagad: Governor

Bangladesh Bank has so far detected irregularities totaling Tk2,300 crore, including the excessive creation of Tk600 crore in e-money by the mobile financial services provider Nagad.

Ahsan H Mansur, the governor of Bangladesh Bank, shared the details at a seminar on the digital financial ecosystem in Dhaka on Sunday (January 12). The seminar was organized by the Metropolitan Chamber of Commerce & Industry, Dhaka (MCCI), and the Policy Research Institute (PRI).

The governor said, "An investigation is currently in progress to uncover irregularities in Nagad. Our focus is on ensuring good governance there. Afterward, we plan to invite new investments and aim to elevate Nagad to the top in the future."

Regarding the tax hike in the telecom sector, he said, "The tax rate in our country's telecom sector is among the highest in the world. We should reconsider further increases, as it may reduce foreign direct investment (FDI) in the sector or worsen the services provided by operators."