Business

‘No new law needed to regulate e-commerce’


Published : 02 Feb 2023 09:53 PM

Mentioning that a good number of laws already exist in the country that can protect the interest of online customers, speakers at a roundtable discussion opined that no new law is required to regulate the digital commerce of the country. 

"There are over 20 laws related to digital transaction security and commerce. Bangladesh Bank also is authorised with the responsibility to protect the digital payment of customers", they said.

Bangladesh Association of Software and Information Services (BASIS) arranged the  roundtable on Wednesday at BASIS conference hall on the draft Digital Commerce Act. 

Meanwhile the online Entrepreneurs expressed their grave concern over recent initiative of Ministry of Commerce to introduce a new 'Digital Commerce Act 2023'. Already a draft has been published on the law. 

The draft proposes that any small entrepreneur, big or small, cannot sell online without compulsory registration. 

Under this proposed law, millions of micro entrepreneurs, including housewives and students, all need to register themselves with RJSC (Register of Joint Stock). If they don't have register and continue business, they will be fined or jailed till 6 months. 

Fahim Mashroor, CEO of Bdjobs.com and AjkerDeal.com gave a keynote presentation. 

Entrepreneurs of different e-commerce, marketplaces, logistics and payments companies attended that includes senior officials Syed Mohammad Kamal from Mastercard, Shahab Uddin, Vice-President of e-Cab,Arnob Mustafa, Director of e-Cab,Arif Khan from Foodpanda, Fahim Shahriar Andalib from Daraz. 

Speakers mentioned that the fraud incidents in 2021 happened mainly because of not applying the existing laws, it did not happen because of lack of laws. 

The roundtable was presided by Zia Ashraf, Chairman of BASIS Digital Commerce Standing Committee.