Singapore has assured Bangladesh of extending its utmost cooperation to build an ecosystem for the development of the e-commerce sector.     The Ministry of Trade and Industry of Singapore gave the assurance while a Bangladesh delegation led by State Minister for ICT Zunaid Ahmed Palak sat in a meeting at the ministry on Thursday.    The meeting focused on the overall development of the e-commerce sector of Bangladesh and effective measures for the expansion of the sector by building an ecosystem with the bilateral cooperation of both countries.    It also discussed bilateral trade, business operation, and management, the safety of business information, digital platform based on artificial intelligence, cross-border payment system, and the highest security of data.  Also Read: Commerce Ministry launches digital business ID for e-commerce sector In the meeting, Zunaid Ahmed Palak presented the latest progress in the e-commerce sector of Bangladesh to the representatives of Singapore.  Mentioning that the e-commerce sector has been expanding in through onlin banking, electronic money transfer, and using ATM cards, he said the size of e-commerce sector in Bangladesh was Tk 8,500 crore before March, 2020 and it has doubled during the Covid pandemic.  The market of e-commerce might reach Tk 25,000 crore within 2023, added the state minister.    Director, Emerging Markets Division at Ministry of Trade and Industry, Singapore Magdalene Loh, Global Adviser, Women and E-commerce Forum (WE) Saumya Basu, and President, WE, Nasima Akter Nisha, were, among others, present at the meeting.   Zunaid Ahmed Palak left for Singapore Wednesday night to attend the four-day-long APAC Digital Innovation Congress-2022 scheduled for May 19-22.      

The businessmen of e-commerce platforms have to take digital business identification number (DBID) for doing business from now on. The Ministry of Commerce on Sunday formally launched the DBID App at its conference room in the secretariat in order to bring discipline in the e-commerce sector in Bangladesh. After revealing different scams of e-commerce companies in recent months, the ministry has taken a move to bring all the e-commerce companies and individuals under a single umbrella. Also read: FBCCI to work for restoring confidence in e-commerce sector As a result, those who will do business online through Facebook will have to come under registration. Commerce Minister Tipu Munshi inaugurated the app as the chief guest. Adviser to the Prime Minister’s on Private Industry and Investment Salman F Rahman, State Minister for Information and Communication Technology Junaid Ahmed and Commerce Secretary Tapan Kanti Ghosh were present on the occasion. Launching the app, registrations were provided to Chaldal.com, Rokmari.com, Ajkerdeal, Sajgoj, Akhi’s Collection on the day. Read Ecommerce, pharma to see higher salaries in India, but less so for hospitality: Aon survey Commerce Minister Tipu Munshi said, "We started with DBID, and more systems will be introduced for the e-commerce sector in phases.” Replying to a query the commerce minister said, “We are discussing who are in jail for e-commerce related cases, to find a solution.” State Minister Junaid Ahmed said the e-commerce sector could provide employment to 5 lakh people by 2025. Also read: BFIU summons bank accounts update of 30 e-commerce companies “Two new approaches will be introduced in the next six months to make the e-commerce sector more reliable for the future. With a tracking system can be found out where the product is going. Another can be easily transacted,” he added.

Commerce Minister Tipu Munshi on Wednesday said the government will form an e-commerce regulatory authority to run the sector in a disciplined way.  “This e-commerce regulatory authority will provide registration to e-commerce firms and strictly monitor the digital business,” said the minister while speaking in a joint meeting at his ministry on the recent problems in the e-commerce sector.  Home Minister Asaduzzaman Khan, Information Minister Hasan Mahmud, Law Minister Anisul Huq and senior officials of the government attended the meeting. “E-commerce is operating across the world. Thousands of people are involved in it. It won’t be logical to stop e-commerce due to fraudulence and cheating by a few firms. Tough action will be taken against those who’ve committed crimes. The government has taken necessary steps so that no one can cheat customers in the future,” said Munshi.  Earlier, legal action was taken against those firms that had cheated customers. “A detailed e-commerce law will be passed and enforced soon and other measures like setting up a central complaint management system will be taken,” the minister noted. Regarding companies like Evaly and Alesha Mart, the minister said transactions worth Tk 6,000 crore took place in the e-commerce sector before the introduction of the escrow service on June 4.  READ: E-commerce firms like Evaly, E-orange to face action: DMP Following its introduction, products worth Tk400 crore have been ordered through the service and Tk200 crore has been transacted, he mentioned. Tipu hinted that the Money Laundering Act will be amended, if needed, to ensure legal action against fraudulent companies.  On Evaly, he said the company has a liability of Tk 500 crore. An institution like Evaly does not have the assets to repay the money of its clients, he said. Asked whether the government will take responsibility for the money, he said, “The government neither took the money nor enjoyed a share of profit.” Another aggrieved customer on Wednesday filed a case against Evaly CEO Mohammad Russel and his wife Shamima Nasrin, chairman of the company, for the company’s failure to deliver an AC for which he paid Tk. 85,000 in advance. READ: Writ seeks judicial inquiry into e-commerce scams This was the fourth case of embezzlement and fraudulence filed against the company’s executives in the past one week. The couple was arrested on September 16 by Rapid Action Battalion from their Mohammadpur flat. Earlier on Tuesday, a Dhaka Court placed Rassel on a one-day remand in an embezzlement case filed with Dhanmondi Model Police Station. His wife Shamima was sent to jail. On Aug 17, A Dhaka court sent owners of virtual outlet e-orange.shop Sonia Mehzabin, her husband Masukur Rahman and Aman Ullah, Chief Operating Officer the company to jail in a fraud case filed over embezzlement of Tk 1,100 crore from consumers. The court sent them to jail rejecting their bail prayers when they surrendered to Dhaka Additional Chief Metropolitan Magistrate Abubakar Siddique's court. On August 16, an aggrieved customer of E-Orange Md Taherul Islam filed a fraud case with Gulshan police station in presence of 37 other customers who testified against the accused.

Mentioning e-commerce as an important sector, President Abdul Hamid  stressed the need for strong monitoring and control to prevent cheating by a handful of people so that the expansion of the sector does not stop in any way. He came up with the observation while delivering speech at the virtual opening ceremony of Digital Device and Innovation Expo 2021. The expo is being held for the second time with theme of 'Make here, Sell everywhere' at Bangladesh Film Archive Complex. Also read: Potential of e-commerce hemmed in by bottlenecks "The interest of buyers towards e-commerce is growing day by day. In order to keep this interest unhurt, buyers need to gain trust and confidence. But some people are cheating in the name of e-commerce. They are delivering low quality or other products instead of the displayed products online," he said. Cheats also close their Facebook page or website without delivering the products after getting the payment and thus shoppers are being deceived and losing interest in online shopping, he said. Expressing his concern over increase in cybercrimes with the development of Information Technology, Hamid said these also instigate social unrests on various issues. “Skilled human resources must be built in addition to the development of advanced technology in controlling cybercrimes.” Also read: 'E-commerce market will be $3 billion big by 2023' He hoped that all concerned including the IT entrepreneurs will take effective steps in this regard. Referring to various steps of the government to create entrepreneurs in the ICT sector, President Hamid said necessary financial support is being provided for startups and innovations and 'Start Up Bangladesh' company has been established in addition to taking up various projects to institutionalize startup and innovation culture. He also hoped that all these initiatives will create new entrepreneurs in the IT sector as well as huge employment opportunities. Also read: Time to assess what we’ve done for the people: President Hamid "Digital Device and Innovation Expo- 2021" which was inaugurated on April 1 will continue until April 3 virtually and physically. Chairman of Parliamentary Standing Committee on Ministry of Posts, Telecommunications & Information Technology A.K.M Rahmatullah MP was present as special guest along with Senior Secretary of ICT Division N M Zeaul Alam, Managing Director(Secretary) of Bangladesh Hi-Tech Park Authority Hosne Ara Begum.