The e-commerce sector will be brought under a legal framework through a separate regulatory body and a central complaint cell to monitor the industry, Commerce Minister Tipu Munshi said Wednesday.
He made the announcement following a meeting discussing the country’s digital e-commerce industry and policy-related decisions pertaining to it.
The Digital Security Act and Money Laundering Act needed to be amended to take action against fraudulent e-commerce platforms, he added. He also highlighted previous legal complexities regarding customer refunds from liquidation of company assets such as the case of Jubok or Destiny Group.
The minister said specific regulatory bodies regulate particular activities. E- commerce goes through the ICT Division, which has certain regulatory duties of its own. The e-CAB has also made several recommendations for regulating the sector.
The relevant agencies include the Bangladesh Competition Commission, ICT Division, a2i, Directorate of National Consumer Rights Protection, the Bangladesh Bank, as well as the Commerce Ministry.
Tipu Munshi noted that before the introduction of the escrow system, the sector had seen transactions worth Tk6,000 crore and the escrow system went into effect from June 4.
Source: Dhaka Tribune