The government has instructed a number of e-commerce platforms to stop selling digital gift cards or vouchers on discounts, sources said.
The online marketplaces include Daraz, Bata shoe company, Walcart and Monarch Mart.
To this effect, the commerce ministry on Sunday issued orders, asking the businesses to take necessary actions to discontinue the practice and follow the existing policy properly.
The companies have been selling various types of gift cards, gift vouchers, wallets, cash vouchers, etc. on higher discounts. The holders of such cards or vouchers will be able to purchase various products from fixed outlets or shops set up by the e-commerce companies.
A prior approval should be taken as per the existing policy of Bangladesh Bank (BB) in this regard. Issuance, usage, selling and buying of the instruments like gift cards, wallets and cash vouchers without prior approval of the central bank are prohibited under the policy.
The ministry asked the companies to display the approval from the BB in their web pages if they have taken such permission. Otherwise, it has instructed to end all kinds of digital products including different types of vouchers as the digital products may be used alternatively like money, the order added.
It also asked the companies to follow the Digital Commerce Operation Guidelines, 2021 and other necessary laws, for operating their activities. Otherwise, the government would take stern steps according to the existing legal provisions.
