e-CAB members seek guarantee-free loan facility
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Monday
January 30, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
MONDAY, JANUARY 30, 2023
e-CAB members seek guarantee-free loan facility

Bangladesh

TBS Report
08 November, 2021, 10:20 pm
Last modified: 08 November, 2021, 10:22 pm

Related News

  • Online systems launched to curb fraud in land mortgages, litigation
  • E-Cab election underway
  • E-Cab awaits high-voltage election
  • No cash transaction at DNCC revenue department from 1 April
  • Loan defaulters can’t run websites, online platforms

e-CAB members seek guarantee-free loan facility

E-commerce entrepreneurs advocate for amendment of the existing laws 

TBS Report
08 November, 2021, 10:20 pm
Last modified: 08 November, 2021, 10:22 pm
e-CAB members seek guarantee-free loan facility

Leaders of the e-Commerce Association of Bangladesh (e-CAB), have called on the authorities to provide guarantee-free loan facilities for its members to help them sustain their businesses.

During a press call, held on Monday evening, e-CAB Finance Secretary Mohammad Abdul Haque said that the small-scale entrepreneurs in the sector, who face fund shortages, find it difficult to secure loans from banks. He also called on the entrepreneurs to make sure their documents are up-to-date.

"The traditional way of securing loans involves meeting certain conditions, which many small businesses cannot fulfil. Many small-scale entrepreneurs in this sector seek guarantee-free loans," Abdul Haque said in the meet the press event, organised to mark the 7-year-anniversary of the organisation.

Calling on regulators to offer loans on easy terms, he said, "To facilitate further growth of the sector it is not necessary to enact a new law or set up a new regulatory body, rather amending the existing law and ensuring strict monitoring will be sufficient."

He recommended regulations on the escrow system to ensure the rapid release of funds stuck in payment gateways.

"The e-commerce sector has become a Tk16,000 crore worth industry. 95% of the business owners are small entrepreneurs and we must save them," he said.  

In the last few months, four companies have attracted foreign investment of Tk1,000 crore. Arrangements are being made to provide a unique business identity from A2I, said Abdul Haque before calling on the government to address issues, including the scrapping of 30% VAT on digital marketing.

e-Cab Vice President Mohammad Sahab Uddin said, "It is possible to do business while adhering to the regulations. On the contrary, risky business practices lead to the sufferings of not only buyers but the merchants as well. On top of it, a negative image is created which hampers the possibility of foreign investments in this sector."

e-Cab director Sayeed Rahman said, "The affected merchants should be brought under the compensation and incentives fold. For 21 people, the whole ecosystem cannot be damaged. Many businesses will perhaps close down. The government should be by their side not only through policy but also through financial investment and loan facilities."

Since 2014, e-Cab has taken various initiatives for the development of the e-commerce sector and played a role in policy decisions with the government. To leave the recent controversies behind, the organisation is planning to launch a positivity campaign in December.

 

Top News

eCab / Online / Commerce

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

  • Photo: Collected
    Economic slump drags down growth in VAT collection from big cos
  • It's corruption that bites business harder: CPD
    It's corruption that bites business harder: CPD
  • Import slowdown to affect economic growth: ADB country head
    Import slowdown to affect economic growth: ADB country head

MOST VIEWED

  • Picture: Collected
    US Embassy condemns recent incidents of visa fraud
  • Bapex calls candidates for job test 9 years after advert!
    Bapex calls candidates for job test 9 years after advert!
  • Photo: Saqlain Rizve
    Bangladeshi university students identified as problematic users of Facebook, internet: Study
  • Four top bankers arrested in DSA case filed by S Alam group 
    Four top bankers arrested in DSA case filed by S Alam group 
  • Matarbari coal-power plant, one of the projects funded by Japan International Cooperation Agency (Jica)-funded projects.
    More than 50% Japan-funded projects lagging behind
  • 690 audit objections worth Tk1.06 lakh crore placed in JS
    Pension scheme for people aged 18-50 gets JS nod

Related News

  • Online systems launched to curb fraud in land mortgages, litigation
  • E-Cab election underway
  • E-Cab awaits high-voltage election
  • No cash transaction at DNCC revenue department from 1 April
  • Loan defaulters can’t run websites, online platforms

Features

Nandita Sharmin's journey to give organic skincare a new identity

Nandita Sharmin's journey to give organic skincare a new identity

16h | Mode
Illustration: TBS

'The silver lining is that the worst is sort of behind us': Hamid Rashid, UN economist

20h | Panorama
Photo: Bloomberg

BuzzFeed and AI are a match made in fad city

18h | Panorama
Snipe in flight. Photo: Enam Ul Haque

Baikka Beel: 'A world where snipe work late'

1d | Panorama

More Videos from TBS

Sarika Sabrin is waiting for a good film

Sarika Sabrin is waiting for a good film

10h | TBS Entertainment
Take your football game to the next level at Next Level academy

Take your football game to the next level at Next Level academy

11h | TBS SPORTS
“Investments risky without consistent policy, reliable data”- SK Bashir Uddin

“Investments risky without consistent policy, reliable data”- SK Bashir Uddin

12h | TBS Round Table
What does Shahrukh has in his 770 million dollar property?

What does Shahrukh has in his 770 million dollar property?

1d | TBS Entertainment

Most Read

1
Picture: Collected
Bangladesh

US Embassy condemns recent incidents of visa fraud

2
Illustration: TBS
Banking

16 banks at risk of capital shortfall if top 3 borrowers default

3
Photo: Collected
Splash

Hansal Mehta responds as Twitter user calls him 'shameless' for making Faraaz

4
A frozen Beyond Burger plant-based patty. Photographer: AKIRA for Bloomberg Businessweek
Bloomberg Special

Fake meat was supposed to save the world. It became just another fad

5
Bapex calls candidates for job test 9 years after advert!
Bangladesh

Bapex calls candidates for job test 9 years after advert!

6
Representational Image
Banking

Cash-strapped Islami, Al-Arafah and National turn to Sonali Bank for costly fund

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

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

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]