Why cenbank’s decision to appoint Nagad admin should not be nullified: HC

Business Eye Report

The High Court (HC) has issued a ruling seeking to know why the Bangladesh Bank's decision to appoint an administrator for the Mobile Financial Service (MFS) Nagad should not be declared invalid.
The High Court bench of Justice Farah Mahbub and Justice Muhammad Mahbub Ul Islam issued the ruling yesterday after hearing a writ petition filed by Nagad's Executive Director Md Shafayet Alam, the company's counsel Barrister Mustafizur Rahman Khan told the media.
The court asked the Bangladesh Bank governor and finance secretary to respond to the ruling within 10 days, Nagad's counsel Barrister Mustafizur Rahman Khan told journalists.
Earlier on 21 August, the Bangladesh Bank appointed its Director Muhammad BadiuzzamanDider as the administrator at Nagad for one year.
In addition, six other central bank officials were sent to Nagad to assist the administrator.