A deep-seated conspiracy appears to be unfolding against Nagad, one of the country’s leading mobile financial service (MFS) providers, allegedly orchestrated by the sitting Governor of Bangladesh Bank. The Governor, who previously served as the Chairman of Brac Bank—the parent company of Bkash, Nagad’s biggest competitor—has been accused of using his influence and position to sabotage Nagad and secure Bkash’s market dominance.
A Web of Allegations and False Cases
According to insiders, the Governor has been strategically pushing false allegations against Nagad, aiming to tarnish its reputation and cripple its operations. The allegations have been accompanied by a series of questionable legal cases, raising concerns about an institutional effort to dismantle Nagad.
Financial experts and industry stakeholders argue that this targeted attack on Nagad is not a coincidence. The Governor’s past affiliations with Brac Bank suggest a serious conflict of interest, as Bkash stands to benefit immensely if Nagad is weakened or forced out of the market.
Misuse of Power: A Planned Assault on Nagad
Sources claim that the Governor is acting on the direct instructions of Bkash and Brac Bank executives, who fear Nagad’s rapid rise and increasing market share. Since its inception, Nagad has posed a formidable challenge to Bkash, offering lower transaction fees, innovative digital banking solutions, and a government-backed structure that provides an added layer of credibility.
Industry experts believe that Bkash and Brac Bank are threatened by Nagad’s success and are using political and financial influence to suppress competition unfairly. Instead of engaging in healthy competition, Bkash has allegedly chosen a backdoor strategy—weaponizing regulatory bodies against Nagad.
Political and Corporate Collusion?
The timing of these allegations and legal cases is highly suspicious. As Nagad expands its operations and garners increasing public trust, the sudden wave of scrutiny appears to be part of a larger scheme. The financial sector is buzzing with speculation that certain high-ranking officials within Bangladesh Bank are working in tandem with Brac Bank executives to create regulatory roadblocks for Nagad.
Several independent analysts have pointed out that:
1. Nagad is being unfairly targeted with audits and compliance checks, while Bkash operates with relative impunity.
2. The Governor has remained silent on complaints regarding Bkash’s excessive fees and monopolistic practices, but he is quick to pursue legal action against Nagad.
3. Media leaks and selective reporting are being used to discredit Nagad while shielding Bkash from scrutiny.
Public Backlash and Industry Reactions
The public reaction to these developments has been overwhelmingly critical. Many social media users and financial analysts have called out the Governor’s clear bias and conflict of interest. Several prominent economists have also urged the government to investigate the misuse of regulatory power and ensure a fair financial landscape.
Nagad’s legal team is expected to challenge these false allegations in court, while business groups and consumer rights organizations are demanding an independent probe into the Governor’s actions and possible collusion with Bkash.
Conclusion: A Fight for Fair Competition
Bangladesh’s mobile financial sector plays a crucial role in financial inclusion, and fair competition is essential for innovation and consumer benefits. If the allegations against the Governor and Brac Bank-backed Bkash are true, this would mark one of the biggest corporate conspiracies in the country’s financial history.
For now, all eyes are on the government and regulatory authorities—will they allow this abuse of power to continue, or will they step in to ensure justice and fair competition in Bangladesh’s mobile financial sector?
