A draft of the new digital commerce law has drawn mixed reactions from industry people and customers alike as some believe a legal framework is necessary to prevent fraud while others opined that it would lead to increased bureaucracy in the emerging sector.
A draft of the new digital commerce law has drawn mixed reactions from industry people and customers alike as some believe a legal framework is necessary to prevent fraud while others opined that it would lead to increased bureaucracy in the emerging sector.
The law comes amid widespread scams centring the e-commerce sector in 2021 as some fraudulent platforms embezzled thousands of crores of taka from customers and merchants.
For all latest news, follow The Daily Star’s Google News channel. The commerce ministry has already sent the draft “Digital Commerce Act 2023,” to different stakeholders and formed a committee to review it.
In absence of recognised laws in the field of digital commerce, some irregularities have been observed and a legal framework is needed to prevent them, according to the commerce ministry.
The Digital Commerce Act aims to facilitate expansion and maintain discipline by preventing, suppressing and prosecuting fraudulent activities in the sector.
Besides, a Digital Commerce Authority, featuring a director general and three directors, will be established to implement the act.
The Digital Commerce Act aims to facilitate expansion and maintain discipline by preventing, suppressing and prosecuting fraudulent activities in the sector. Besides, a Digital Commerce Authority will be established to implement the act.
Certain players in the e-commerce sector have expressed displeasure regarding the proposed measures, saying that it is unnecessary to form a dedicated regulatory body as the existing legal framework is sufficient to ensure discipline.
“We don’t need a new law or regulatory body, what we need is proper implementation of the existing