Nagad promotes mainstreaming of persons with disabilities

DHAKA, Bangladesh, Dec. 5, 2023 /PRNewswire/ -- Nagad, a popular mobile financial service provider based in Bangladesh, is making significant strides to champion the mainstreaming of persons with disabilities – the initiatives that align with the United Nations Sustainable Development Goals (SDGs).

In a commitment to SDG 10, which calls for reduced inequalities, the world's fastest-growing mobile money operator is actively working towards building a more inclusive financial ecosystem that leaves no one behind.

The MFS company has digitalised disbursements of social safety allowances meant for marginalised and impoverished people, including persons with disabilities, making sure such financial aid reaches actual beneficiaries promptly.

According to the Bangladesh Bureau of Statistics, the nationwide count of individuals with disabilities stands at approximately 4.8 million, with a significantly higher prevalence in villages than in urban areas. In the last four fiscal years up to FY2023-24, the government allocated BDT 8,000 crore – equivalent to around $802 million – for over 9 million such beneficiaries. Every year 75 percent of the total social safety allowances are successfully disbursed through Nagad.

As part of its dedication to SDG 8, promoting decent work and economic growth, Nagad has created opportunities for insolvent persons with disabilities to become its Uddokta (agents) – thus fostering independence and breaking free from reliance on others. In times when support seemed elusive, Nagad stepped forward, becoming a beacon of empowerment for those often marginalised in society.

In terms of SDGs, Bangladesh has had positive outcomes in areas, such as poverty eradication, education, health, employment, gender equality, and financial inclusion, with Nagad being instrumental in speeding up the country's journey towards achieving SDGs.

On 3 December, the world observed the "International Day of Persons with Disabilities" intending to promote the inclusion of disabled individuals in all facets of society. The forward-thinking mobile financial service provider takes pride in its commitment to improving their lives and livelihoods by ensuring equitable access to financial resources.

Tanvir A Mishuk, founder and managing director of Nagad Ltd., "From the beginning of our journey, we have been working to improve people's lifestyles by bringing them into the fold of digital financial inclusion. We have also taken initiatives to mainstream persons with disabilities, which resonate with multiple SDGs. By fostering inclusivity, we contribute to a world where financial services are accessible to all, irrespective of ability."

"We believe that the SDGs can be a stepping stone to reach our goal of Smart Bangladesh by 2041, and Nagad will be a powerful tool," he added.

About Nagad Ltd (https://www.nagad.com.bd/)

Nagad Limited is one of the leading MFS operators in Bangladesh's payment industry with 85 million registered customers and an average daily transaction of about USD 112 million. The digital payment platform, known as a successful public-private partnership between Bangladesh Postal Department and the private sector, was inaugurated in 2019 by Prime Minister Sheikh Hasina of the people's republic of Bangladesh.