DHAKA, Feb 16, 2025 (BSS) - The High Court (HC) today upheld a decision taken by the Bangladesh Bank (BB) to appoint an administrator to the mobile financial service (MFS) provider Nagad.
 
A High Court division bench of Justice Farah Mahbub and Justice Debasish Roy Chowdhury passed the judgment, scrapping a petition filed challenging the decision taken by the central bank.
 
"Discharged as being not maintainable," said the short judgment of the High Court.
 
The BB on August 21, 2024, issued the internal order, appointing its Director Muhammad Badiuzzaman Dider as the administrator at Nagad for one year. Nagad's independent director Shafayet Alam, however, filed the writ on September 2, challenging the decision taken by the Bangladesh Bank.
 
The High Court after holding a primary hearing on the writ, issued a rule over the appointment of administrator. The court today came up with the judgment, after holding the final hearing in this regard.
 
Senior jurist Jamir Uddin Sircar, Mustafizur Rahman Khan, Abul Kalam Khan and Md Jamilur Rahman moved the plea before the court, while Advocates BM Ilias Kochi and Saiful Islam argued for the central bank.