The E-Commerce Association of Bangladesh (e-CAB) has said that the country still lacks any proper policy to regulate the existing e-commerce companies or merchants and their business activities.
"I would like to clarify the position of the e-CAB on the ongoing discussions across the country on some e-commerce companies. There is no policy yet on how e-commerce companies will be run," said Md Abdul Wahed Tamal, the general secretary of the organisation.
In a Facebook post, Tamal noted that their organisation had provided a draft Standard Operating Procedure (SOP) for e-commerce platforms to the commerce ministry last year.
"We have consulted a number of stakeholders under the supervision of the ministry, the issue is now in the final stages. Once the policy is officially released, all e-commerce companies will be governed by a set of rules," his post read.
Tamal noted that an investigation committee formed last year under the research team of e-CAB with five teachers from Dhaka University had submitted a report on Evaly's business model.
"The SOP was drafted based on this report. On behalf of e-CAB, we have been urging to finalise this policy for a long time," he added.
Tamal further wrote that there are no escrow services in the country as well which is essential for the assurance of payment to buyers and sellers.
"About two years ago, we had made proposals (for escrow service) to various government bodies including Bangladesh Bank, Prime Minister's Office, Ministry of Commerce and ICT Division. A committee has already been formed under Bangladesh Bank in this regard," he wrote.
The e-CAB GS claimed that the e-commerce sector has created millions of new jobs in the last year alone.
"To take this potential e-commerce sector to a stronger position, I urge every e-commerce organisation to conduct its business with dedication and urge the government to issue a speedy policy and launch escrow service," he added.