It is becoming mandatory for e-commerce firms to obtain unique business identification numbers in order to operate in Bangladesh.
A system is being put in place to ease the process of registration through online applications.
The commerce ministry aims to launch the service within the next two months. All new and old e-commerce-based platforms will be brought under the same database.
Although it was initially decided that firms will be required to keep deposits in the central bank to get their IDs, the deposits will not be needed at the moment, said an official of the commerce ministry.
The government's Access to Information Programme has already started working on how to assign these unique numbers. A registration format has been finalised.
The format was approved at a recent inter-ministerial and inter-departmental meeting at the commerce ministry, said AHM Safiquzzaman, additional secretary at the ministry.
“We have made the registration process very easy so that no businesses get weighed down by it.”
A government committee on e-commerce has given a2i the responsibility to launch the UBID service, Muhammad Saeed Ali, an official of the e-commerce cell of the ministry, told bdnews24.com. Several meetings have already taken place over the matter.
Plans are being discussed to make the UBIDs a ‘precondition’ for obtaining trade licences in the future for organisations operating across the country, said ministry officials.
For now, UBIDs will be limited to e-commerce platforms. Whether the programme will be expanded to include all other businesses inside the country in the future is also under consideration.
Once the system gets fully implemented, it will no longer be possible to launch a new company using an already registered name as every company will be assigned a unique ID.
Officials argue that the IDs will provide basic information on all types of companies operating in the country, including information on owners and entrepreneurs.
Once a company registers its name and obtains a UBID, others will not be able to apply for the same name, said Rezwanul Haque Jami, head of e-commerce at a2i. It will play a role in stopping irregularities in organisations.
The launch of UBIDs may be part of government initiatives following a recent spate of scams in the e-commerce sector, said Morin Talukder, CEO of Pickaboo.
"I do not know the details yet. As far as I understood from the government’s press conference, the IDs will be used to interlink e-commerce organisations with the upcoming escrow system and the national complaints management centre."
He thinks that the initiative may play a special role in making e-commerce platforms free from irregularities.
While praising the ongoing reform initiatives, he said that if bank security deposits were made mandatory, it could prove to be challenging for the sector.
REGISTRATION
Businesses are required to submit the required documents online. Afterwards, the government will verify the information using the database of the National Identity Card of the Election Commission. The IDs will be issued if all information provided is accurate.
REQUIRED DOCUMENTS
An applicant has to submit his NID, mobile number, business bank account number and address (permanent or temporary) online.
PRESENT SCENARIO
At present, trade licences have to be obtained from the concerned city corporation and municipality for conducting conventional and online businesses. Apart from this, some additional certificates are required according to the type of business. An electronic tax identification number is required to pay tax and a business identification number to pay VAT.
