Dhaka, June 2 -- The Appellate Division on Monday stayed an earlier order of the chamber court that had suspended the Bangladesh Bank's decision to appoint an administrator to oversee operations at the mobile financial service (MFS) provider Nagad.

A five-member bench led by Justice Md Ashfaqul Islam of the Appellate Division passed the order following a hearing on a petition filed by Bangladesh Bank seeking withdrawal of the Chamber Judge's stay order.

Following the court order, Bangladesh Bank's counsel BM Elias Kachi told reporters that the Chamber Court had stayed the central bank's decision to appoint an administrator at Nagad.

"That order has now been stayed by the Appellate Division. The administrator appointed earlier remains i...