Md Shafayet Alam has become chief executive officer of Nagad Limited, said a press release.
He took office on Monday. He has been associated with Nagad since before its commercial launch in 2019.
Upon assuming his new role, Shafayet said, 鈥楴agad has established itself as a remarkable brand in the MFS market by strictly adhering to all rules and regulations of the Bangladesh Bank. In the days ahead, we will make every effort to further accelerate customer service with their advice.鈥�
He pledged to further expand Nagad鈥檚 services in keeping with customers鈥� changing needs.
In August 2024, when the Bangladesh Bank appointed an administrator to oversee Nagad, Shafayet challenged the procedure of appointing the administrator in the High Court. Last week, the Chamber Judge of the Supreme Court declared the administrator鈥檚 appointment unlawful. Following that decision, he formally assumed the role of Nagad鈥檚 new CEO.