SC Puts Hold on Order, Enables Nagad Administrator’s Actions

The Appellate Division of the Supreme Court has stayed the Chamber Judge Court’s order that had suspended the appointment of an administrator to the mobile financial service provider Nagad. As a result, there is now no legal barrier to the administrator performing his duties. A five-member bench of the Appellate Division, headed by Senior Justice Md Ashfaqul Islam, passed the order on Monday (June 2).

The order came following a hearing on a petition filed by the Bangladesh Bank, seeking withdrawal of the Chamber Court's stay on the administrator’s appointment to Nagad. Following the order, Bangladesh Bank’s lawyer B M Elias Kochi told reporters: “The Chamber Court had issued an order suspending the administrator’s appointment. The Appellate Division has now stayed that order. The administrator was previously appointed and remains in position. With the Appellate Division’s decision, there is no longer any legal obstacle to the administrator performing his duties.”