PM’s China visit: Nagad signs deal with Huawei

Nagad Limited and Huawei Technologies have signed an agreement with an aim to provide world-class smart transaction experiences to the country's people through Nagad.

The agreement between Nagad and Huawei was signed in the presence of Prime Minister Sheikh Hasina at Shangri-La Hotel in Beijing on Tuesday (July 9), says a press release.

According to the release, following this agreement, Nagad Digital Bank and Nagad’s existing mobile financial services will be integrated with cutting-edge global technologies. As a result, customers of the country’s first digital bank will enjoy international-standard transaction services anytime, anywhere.

On behalf of Nagad, its founder and CEO Tanvir A Mishuk signed the agreement. The event was also attended by Finance Minister Abul Hassan Mahmood Ali, Foreign Minister Dr Hasan Mahmud, PM’s Private Industry and Investment Adviser Salman F Rahman, State Minister for Posts, Telecommunications, and Information Technology Zunaid Ahmed Palak and Chairman of Nagad Digital Bank Muhammad Farid Khan.

Pan Junfeng, president of Huawei South Asia Region and CEO of Huawei Bangladesh, signed the agreement on behalf of Huawei Technologies. Several ministers and senior officials of the Chinese government were also present at the event.

At this time, Li Fei, vice-minister of commerce of China, highly praised Nagad’s remarkable contribution to Bangladesh’s economic growth and financial inclusion.

Speaking about the agreement, Farid Khan, chairman of Nagad Digital Bank, said, “Nagad MFS has brought about a major revolution in Bangladesh’s financial sector over the past five years. Now is the time to take it to a global standard. Nagad and Huawei will jointly work to achieve this for Bangladesh. Nagad Digital Bank will play a unique role in this, which will significantly contribute to building a smart Bangladesh.”

“To ensure the technological development required for a 100 percent cashless society, we have signed this agreement with the world-renowned company Huawei Technologies. Through this, our MFS and digital bank customers in Bangladesh will enjoy world-class services causing digital transactions to become more comfortable and affordable,” he said.

Marking the golden jubilee of diplomatic relations between Bangladesh and China next year, Prime Minister Sheikh Hasina began her China visit on 8 July. During this visit, several notable agreements and memorandums of understanding are being signed between the two countries.

Eight years ago, when Chinese President Xi Jinping visited Dhaka, Bangladesh and China elevated their bilateral relations to a strategic partnership from trade and economic cooperation.

Later, during Prime Minister Sheikh Hasina’s visit to China in 2019, China was termed as a comprehensive strategic cooperative partner in Bangladesh’s development.