A. Mishuk, founder and former Managing Director and CEO of mobile financial service provider Nagad, has announced that he hopes to return to Bangladesh after spending two years abroad, saying he is prepared to resume work with "10 times more speed" than before. Mishuk is facing allegations related to the creation of Tk 645 crore in electronic money without the required reserve backing.

He has denied the allegations, maintaining that the accusations are false and politically motivated. The matter remains before the courts. During the previous Awami League government led by former Prime Minister Sheikh Hasina, Nagad received significant state support and publicity. The government purchased a Tk 10,000 share in the company, a symbolic investment that attracted widespread public attention and was presented as an endorsement of what was then regarded as one of Bangladesh's most promising fintech ventures. Some observers have compared the allegations surrounding Nagad's electronic money creation with the broader risks of creating credit or money without adequate backing. Similar concerns over excessive risk-taking, subprime mortgage lending, and weak financial oversight contributed to the 2008 global financial crisis and the collapse of Lehman Brothers. However, the circumstances surrounding Nagad and the 2008 U.S. financial crisis are fundamentally different and should not be regarded as directly comparable.

In a post published on his verified Facebook page, Mishuk said he left Bangladesh exactly two years ago and described the period as one marked by "blackmail, conspiracy, false allegations and character assassination." He wrote that the experience had strengthened him and deepened his faith. "I never forgot my people or my institution. My heart has always remained in Bangladesh," he wrote, adding, "If Allah wills, I will return very soon." Mishuk said he intends to return with "new strength, new courage and new dreams," expressing confidence that Nagad would once again become stronger and continue serving millions of customers. Launched in March 2019 under the Bangladesh Post Office, Nagad rapidly emerged as one of the country's largest mobile financial service providers.

Under Mishuk's leadership, the platform introduced digital e-KYC, low-cost money transfers and digital government payment services, helping expand financial inclusion. The company experienced rapid growth, was widely described as achieving unicorn status and later obtained a licence to establish Nagad Digital Bank. Following the political transition in Bangladesh in August 2024, Bangladesh Bank appointed an administrator to oversee Nagad, dissolved its previous board and removed Mishuk from his position. The central bank cited governance concerns and initiated a review of the institution's operations. In February 2025, Bangladesh Bank filed a case against Mishuk and several former Nagad officials, alleging irregularities involving Tk 645 crore in electronic money created without the required reserve backing.

Mishuk rejected the allegations, arguing that any financial shortfall emerged after the Bangladesh Bank-appointed administration assumed control of the company. Earlier, a general diary (GD) filed against Mishuk by Nagad's administrator over an alleged threatening WhatsApp message was dismissed by a Dhaka court. An entrepreneur with a background in telecommunications, Mishuk previously founded Telekom Asia and has been associated with several technology ventures. He is widely credited with transforming Nagad into one of Bangladesh's leading fintech companies, although his tenure has also become the subject of ongoing legal and regulatory scrutiny. His latest Facebook statement is the clearest indication yet that he intends to return to Bangladesh. However, he did not specify a timeline or explain what formal role he expects to play at Nagad if he returns. The current administrator of Nagad is Md. Motasem Billah, an Executive Director of Bangladesh Bank. He took over the role in February 2025, succeeding Muhammad Badiuzzaman Dider.