In a landmark move aimed at enhancing transparency and efficiency in stipend disbursement, the Prime Minister's Education Assistance Trust has decided to channel support to approximately 54 lakh underprivileged and meritorious students in Bangladesh exclusively through Nagad, a leading mobile financial service provider. The initiative seeks to ensure seamless enrollment of students in secondary level education.
Under this program, students ranging from class six to ten will each receive a one-time assistance of Taka 5,000. Applications for the stipends were conducted online, with disbursements anticipated to commence imminently.
Previously, the stipends were distributed through various channels, leading to alleged irregularities. To rectify this, the Directorate of Secondary and Higher Education, under the Education Ministry, made the decision to centralize stipend disbursements solely through Nagad, given its proven track record in effectively distributing primary education stipends to 1.5 crore students.
Muhammad Zahidul Islam, vice-president and head of Media and Communication at Nagad Ltd., expressed the company's readiness and capability to execute the stipend disbursements, emphasizing Nagad's unrivaled success in handling governmental allowances and stipends.
Furthermore, the Prime Minister's Education Assistance Trust outlined eligibility criteria for admission assistance, extending aid to students from families with an annual income of less than Taka two lakh, along with children of employees in specific government sectors. Required documentation includes parental identity cards, birth certificates, and recommendations from educational institutions.
Established in 2013 with a fund of Taka 1,000 crore, the PM's Education Assistance Trust has been steadfast in supporting underprivileged and meritorious students across different education levels, with stipends ranging from Taka 5,000 to Taka 10,000, as per the government's decision.
Nagad's pivotal role in this initiative underscores its status as the largest mobile banking company in Bangladesh, boasting over nine crore registered customers and an extensive network of agent points nationwide. The decision to entrust Nagad with stipend disbursements reaffirms the government's commitment to fostering efficiency and accountability in educational support programs, ensuring that aid reaches those in need effectively and transparently.