Evaly Bangladesh Offer, Help & Review: Commerce asks BB to probe Evaly allegations | The Business Standard
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard

Sunday
July 03, 2022

Sign In
Subscribe
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
  • Epaper
  • More
    • Subscribe
    • COVID-19
    • Bangladesh
    • Splash
    • Videos
    • Games
    • Long Read
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
SUNDAY, JULY 03, 2022
Commerce asks BB to probe Evaly allegations

Crime

Abul Kashem
22 February, 2021, 10:55 pm
Last modified: 23 February, 2021, 11:24 am

Related News

  • IPDC Finance receives sustainability rating recognition from BB
  • Evaly: Justice stuck within a server password
  • Evaly left with products worth Tk25cr 
  • BB bids farewell to easy money policy to tame inflation
  • ‘No mask, no service’ policy again in banks

Commerce asks BB to probe Evaly allegations

It also tells its WTO cell to ask the e-commerce firm to follow cash-on-delivery

Abul Kashem
22 February, 2021, 10:55 pm
Last modified: 23 February, 2021, 11:24 am
Online Shopping Mall - E-valy Limited

The commerce ministry has written to the Bangladesh Bank to look into financial management at Evaly, an e-commerce platform that was in the spotlight last year for numerous alleged irregularities.

It has also sent a letter to the home ministry's Public Security Division to ask the Criminal Investigation Department's (CID) Organised Crime Division to probe various allegations against the company and submit a report.

On 18 February, the two letters signed by the deputy secretary to the Admin wing of the commerce ministry, Jinnat Rehana, were sent to Bangladesh Bank Governor Fazle Kabir, and Public Security Division's Senior Secretary Mostafa Kamal Uddin.

The commerce ministry also wrote to Md Hafizur Rahman, director general of the World Trade Organisation (WTO) cell under the ministry, asking him to direct Evaly to follow cash-on-delivery in business. Hafizur is also the head of the national digital commerce cell.

The ministry took the steps against Evaly in the wake of recommendations made by the Police Headquarters in a report last month. The report was prepared based on the probe into allegations of financial mismanagement and non-delivery of goods on time after collecting advance payments from customers.

Commerce Secretary Dr Md Jafar Uddin told The Business Standard that the Police HQ report had recommended further investigations into Evaly.

He said letters had been sent to the home ministry, the Bangladesh Bank, and others concerned as part of implementing that recommendation.

"We are going to finalise and issue a digital commerce policy very soon. Our key goal is to develop the e-commerce sector by restoring customer confidence," he added.

In the letter to Hafizur, the ministry asked him to direct Evaly to operate its business according to the consumers' rights protection act, the national digital commerce policy of the ministry, and the rules and regulations of the e-Commerce Association of Bangladesh.

He told The Business Standard that he had not yet received the letter as he had been outside Dhaka for official purposes.

"I will receive the letter on Tuesday. I will take necessary steps as per the instructions of the ministry."

Moreover, a letter was sent to Babul Kumar Saha, director general of the Directorate of National Consumer Rights Protection, to monitor whether consumers' rights were being protected in Evaly's operations.

The letter asked the directorate to send a report to the ministry every month after monitoring how many orders Evaly had received and how many of those had been delivered.

When contacted, Babul Saha declined to comment on the matter while Md Serajul Islam, spokesperson for the central bank, could not be reached despite repeated attempts.

CID's Special Superintendent of Police (Organised Crime Division) Mostafa Kamal told The Business Standard he had not yet received the commerce ministry letter.

He said they had already submitted a probe report to the home ministry but had not yet received fresh instructions to carry out another investigation.

The Police HQ probe report mentioned eight types of irregularities against Evaly. The existing Consumers' Right Protection Act 2009 and various sections of the Penal Code 1860 provide for three years of imprisonment for such offences.

According to the Digital Security Act 2018, the company owner is liable for these crimes.

The investigators found allegations of not delivering products on time, not keeping proper contact with customers, not returning the advance payment fully in case of failure to deliver products, and offering e-balance instead of cashback. 

They also found evidence that money received through cashback offers was added to e-wallets instead of being returned in cash or to bank accounts, and that customers were not allowed to use 100% of the e-balance to purchase products. 

The report said low-cost and substandard products as well as products different from what were originally ordered are often delivered to customers. 

Evaly formally commenced its journey on 16 December 2018 after taking registration from the Office of the Registrar of Joint Stock Companies and Firms on 14 May that year. It started with a paid-up capital of Tk50,000, and its current paid-up capital is Tk1 crore.

Evaly now has more than 37 lakh registered customers and its monthly transaction is around Tk300 crore. At present, about 25,000 vendors are associated with it.

Evaly initially introduced Voucher, a system that offered cashback up to 200-300% for various products. At present, cashback up to 100-150% is offered.

The company receives a commission by selling around 4,000 types of products, including mobile phones, motorcycles, refrigerators, televisions, cars and flats, on its platform.

Evaly's payment system is not like that of other e-commerce firms in the country. It does not offer cash-on-delivery facilities. The full price of a product has to be paid in advance.

The company's founder Mohammad Rassel graduated in statistics from Jahangirnagar University. He then obtained an MBA degree from the Institute of Business Administration under the University of Dhaka.

He launched Evaly after working at Dhaka Bank for about two years.

Bangladesh / Top News

Evaly / allegations / probe / Bangladesh Bank

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Export earnings hit record high $52.08B in FY22
    Export earnings hit record high $52.08B in FY22
  • Remittance inflow down by 15% in FY21-22 
    Remittance inflow down by 15% in FY21-22 
  • Photo of Bangladesh Secretariat/Collected
    Govt stops purchasing new cars for ministries, departments

MOST VIEWED

  • Father of deceased BUET student seeks PM’s intervention
    Father of deceased BUET student seeks PM’s intervention
  • Narail Sadar OC withdrawn over humiliation of teacher Swapan Kumar
    Narail Sadar OC withdrawn over humiliation of teacher Swapan Kumar
  • Representational image. Illustration: Collected
    298 women, girls tortured; 76 raped in June: Report
  • Photo: TBS
    Teacher Utpal killing: Jitu put on 5-day remand
  • Photo: Collected
    Main accused held over Narail principal assault, remand sought
  • Saudi Riyals worth Tk6cr seized at Dhaka Airport
    Saudi Riyals worth Tk6cr seized at Dhaka Airport

Related News

  • IPDC Finance receives sustainability rating recognition from BB
  • Evaly: Justice stuck within a server password
  • Evaly left with products worth Tk25cr 
  • BB bids farewell to easy money policy to tame inflation
  • ‘No mask, no service’ policy again in banks

Features

A Glittery Eid

A Glittery Eid

5h | Mode
Rise’s target customers are people who crave to express themselves through what they wear, and their clothing line is not relegated to any age range.

Level up your Eid game with Rise

5h | Mode
Stefan Dercon, a Professor of Economics at the University of Oxford and former Chief Economist of the Department of International Development (DFID). Illustration: TBS

Renewing the ‘elite bargain’ for Bangladesh’s future growth

8h | Panorama
The eye-catching commuter: Suzuki Gixxer SF 155

The eye-catching commuter: Suzuki Gixxer SF 155

1d | Wheels

More Videos from TBS

Chirkutt performs on Fete de La Music Fest

Chirkutt performs on Fete de La Music Fest

7h | Videos
Madhuri Sanchita's seed ornaments exhibition

Madhuri Sanchita's seed ornaments exhibition

7h | Videos
Bangabandhu Tunnel to change lives of million

Bangabandhu Tunnel to change lives of million

19h | Videos
Sowari Ghat's fresh fish market

Sowari Ghat's fresh fish market

19h | Videos

Most Read

1
Padma Bridge from satellite. Photo: Screengrab
Bangladesh

Padma Bridge from satellite 

2
Meet the man behind 'Azke amar mon balo nei'
Splash

Meet the man behind 'Azke amar mon balo nei'

3
TBS Illustration
Education

Universities may launch online classes again after Eid

4
Photo: TBS
Bangladesh

Motorcycles banned on Padma Bridge 

5
Photo: Collected
Economy

Tech startup ShopUp bags $65m in Series B4 funding

6
World Bank to give Bangladesh $18b IDA loans in next five years
Economy

World Bank to give Bangladesh $18b IDA loans in next five years

EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2022
The Business Standard All rights reserved
Technical Partner: RSI Lab
BENEATH THE SURFACE
Launch operators on various river routes see a steep drop in passengers after the opening of the the Padma Bridge. Photo: TBS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net