Friday, October 22, 2021

Bangladesh to set up e-commerce regulatory body: Commerce Minister Tipu Munshi

The Bangladesh government will set up an e-commerce regulatory body to monitor the sector properly. Commerce Minister Tipu Munshi said on Wednesday that the government will enact a detailed e-commerce law also to regulate this sector.

 

The announcement comes after a major e-commerce company of Bangladesh allegedly cheated consumers worth hundreds of crores taka. The Minister assured that legal action will be taken against the company who cheated consumers. He said that the law ministry has been asked to suggest the ways to solve the issue.

The Minister said that companies like Evaly and Alesha Mart spent a huge amount of money on advertisement and sponsorships. He said that every company must obtain a unique Business Identification Number (BIN) from the commerce ministry, reports the official news agency BSS.

The CEO and Chairperson of Bangladeshi e-commerce company Evaly were arrested on September 16 for defrauding thousands of customers after taking advance money for delivery of goods. The customers did not receive the promised goods. According to some estimates the company owes close to Tk 1000 crore to its customers and distributors. The company was set up in 2018. It offered hefty discounts, sponsored big sports and other events, produced films and entertainment programmes before it defaulted on the deliveries.

– Rajesh Jha/Dhaka

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