The central bank on Thursday issued a fund release policy for digital commerce enterprises with fixation product-wise specific timeframe aiming to develop a secure e-commerce ecosystem in Bangladesh.
“We’ve issued the policy aiming to protect the customers’ interest,” a senior official of the Bangladesh Bank (BB) told the FE while explaining the main objective of the policy.
E-commerce enterprises have been asked to provide a list mentioning the name of clients with telephone numbers to banks or mobile financial services (MFS) concerned after delivering products or services, according to a notification issued by the central bank on the day.
The banks or MFS will release funds to the E-commerce enterprises after confirmation of receiving products or services by the customers from them (online enterprises).
The BB’s latest move came against the backdrop of a good number of customers alleged that they did not get products in time after purchasing them from the e-commerce sites.
In some cases, the payments had been made months in advance through cards or mobile financial services.
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