The government recently has banned all types of Multi-Level Marketing (MLM) or Network Business being done in the name of e-commerce business.
Besides, without permission of the central bank all types of digital wallets, gift cards, or cash vouchers cannot be bought or sold in any e-commerce platform. However, e-commerce businessmen can realize 100 percent full payment through Bangladesh Bank ESCROW service.
Commerce Minister Tipu Munshi said this while speaking as the chief guest at a webinar on ‘Digital Commerce Management Guide 2021’ organized by E-commerce Association of Bangladesh (e-cab) on Tuesday.
The government published the ‘Digital Trade Management Guide 2021’ with a total of three chapters and 69 sections. In the third chapter, multilevel marketing is prohibited by the rules of conducting business through digital platform.
All types of digital wallets or gift cards or cash vouchers cannot be bought or sold without the permission of Bangladesh Bank, the rules said. However, with the 'Escrow' facility, digital traders will be able to receive 100 percent of the product price in advance.
This digital commerce management guideline has been prepared on the basis of the views of various ministries, government and non-government organizations and stakeholders concerned with the Ministry of Commerce.
It gives detailed explanations about displaying and buying and selling information of products and services for sale in the marketplace, general rules, presentation for sale of goods or services in the marketplace, product delivery, advance payment price adjustment etc. which will be helpful for customers.
The Commerce Minister said, “Under Digital Commerce, drugs, explosives or any other prohibited items or services cannot be bought and sold. Gambling or online betting cannot be organized or participated. Digital commerce companies will not be able to organize any kind of lottery without the prior approval of the government. Multi-Level Marketing (MLM) or Network Business cannot be conducted.
The Commerce Minister said, “The word ‘no stock’ should be clearly inscribed on the side of the product if it is not under the control of the seller or the person or organization contracted with him. The word ‘available for delivery’ should be written instead of the quantity of stock in the case of goods and services which cannot be expressed in daily commodities and food items or numbers.”
“In case of advance payment collection, the products displayed must be at the ‘ready to ship’ stage within the country. No advance of more than 10 percent of the value of the goods may be accepted in case of goods which are not in a condition to be delivered to the delivery person or establishment within 48 hours after receipt of full price.”
“However, up to 100 percent advance can be accepted through the ESCROW service approved by Bangladesh Bank. The product must be delivered to the deliveryman or Delivery Company within 48 hours of the full price of the product displayed for sale and the buyer must be notified by telephone, e-mail or SMS,” added the minister.
High officials of Bangladesh Bank, representatives of various government departments, President of e-cab Shami Kaiser, representatives of various associations, journalists of print and electronic media participated in the programme which was conducted by the Commerce Secretary Tapan Kanti Ghosh.
