Commerce ministry forms sub-committee for e-commerce

The Commerce Ministry today formed a sub-committee to regulate e-commerce in the country.
 
Besides, the decision on formulating new law or amending the existing one will be taken within one month, a ministry spokesperson told the media.
 
The development was made in the backdrop of the recent proliferation of unsustainable business models and fraudulent schemes in the e-commerce sector in Bangladesh.  
 
Earlier, the e-Commerce Association of Bangladesh (e-CAB) proposed a set of recommendations to resolve the current crisis of the country's e-commerce sector, including forming committees.
 
e-CAB recommended forming several committees in compliance with the Digital Commerce Policy-2018. These committees include - Risk Factor Management Committee, Technical Committee, and Advisory Committee.
 
Among those, the Advisory Committee has already been formed in compliance with Digital Commerce Policy-2018.
 
Meanwhile, a risk factor management committee was instructed to be formed in coordination with the ICT Division, Commerce Ministry, Ministry of Public Administration, the Directorate of National Consumer Rights Protection, Bangladesh Bank, and others to monitor and control risky activities of e-commerce sites.
 
Besides, Bangladesh Bank should form a technical committee to monitor financial transactions of e-commerce sites, e-CAB said in the recommendation.
 
In July, the ministry released the digital commerce guidelines for bringing accountability to the sale of goods and services online have been positively received by those engaged in online businesses.
 
Commerce Minister Tipu Munshi said, "The Digital Commerce Management Guidelines were prepared after consulting various ministries, governmental and non-governmental organizations, and other stakeholders concerned to run digital businesses smoothly.