Technical, madrasa students to receive stipends through Nagad

The Department of Technical and Madrasa Education, Nagad Limited and Bangladesh Postal Department have recently signed an agreement to distribute stipends among technical and madrasa students.

Under the agreement, technical and madrasa students will be able to receive their stipends through Nagad.

The primary objective of the initiative is to disburse stipends among the students in a timely and transparent manner through Nagad.

Md. Moniruzzaman, Additional Secretary, Md. Akhtaruzzaman, Senior Assistant Secretary, Sabina Yasmin of Technical and Madrasa Education Division and Md. Shafayet Alam, Executive Director of Nagad Limited, attended the signing event.

Technical and madrasa students do not require to incur any additional cost while withdrawing stipends through Nagad. As a result, students can visit any Nagad 'Uddokta' point and conveniently withdraw their stipend money without charge.

Regarding the agreement, Md. Shafayet Alam, Executive Director of Nagad Ltd, said, “Nagad has been successfully disbursing allowances and stipends with transparency in association with government’s various types of financial inclusion efforts. In continuation of this, Nagad is now involved in the disbursement of stipends to technical and madrasa students. We believe, that receiving stipends through Nagad will not only benefit the students but also accelerate the government's efforts to create a ‘cashless society’. Nagad will continue supporting endeavors to develop a digital Bangladesh."

Since 2020, the Bangladesh Postal Department’s mobile financial service Nagad has effectively distributed several types of allowances, including stipends, earning government's trust and confidence. Initially, the government signed an agreement with Nagad to disburse stipends and allowances to 1.2 million primary school students via Nagad which has been accomplished transparently by the company. Subsequently, in 2021, 300 technical institutions and madrasas as well as 8,000 teachers, staff and students received the government’s allowance totaling BDT 50 million crore through Nagad.

In addition, the mobile financial service Nagad started distributing stipends and allowances to primary school students for purchasing educational materials recently in June, this year.