DHAKA, Sept 22, 2021 (BSS) - Commerce Minister Tipu Munshi today said that 
the government would set up an e-commerce regulatory body to monitor the 
sector in a better way.   

  Tipu also mentioned that there will be a detailed e-commerce law to be 
enacted soon alongside establishing a central complaint cell.   

  "Legal actions as per the current law will be taken against those companies 
who have cheated customers," he said.   

  Tipu made the remarks after presiding over a meeting at the commerce 
ministry to review the recent problems in the country's e-commerce business 
and policy-related decisions regarding the sector.  

  The minister said that the Digital Security Act and Money Laundering Act 
will be amended to ensure legal action against fraudulent companies.  

  Tipu noted that there were some legal complexities about refunding 
customers of Jubok and Destiny group by using those companies' assets. 

   "The law minister has been suggested to solve the issue," he said adding 
that the government cannot shut down the entire e-commerce sector for the 
fraudulence of 10-12 companies.  

  According to the minister, transactions worth Taka 6,000 crore took place 
in the e-commerce sector before the introduction of the escrow service on 
June 4.  

  Following its introduction, products worth Taka 400 crore have been ordered 
through the service and Taka 200 crore has been transacted.  

  The minister said that companies like Evaly and Alesha Mart wasted a lot of 
their assets on advertisements and sponsorships. 

   "We will try to ensure that these companies cannot cheat customers 
anymore. Every company must obtain a unique Business Identification Number 
from the commerce ministry," Tipu said.  

  Answering to another question, the Commerce Minister said they have 
arranged the meeting out of their obligations. "We don't want to escape those 
obligations."
  
  Home Minister Asaduzzaman Khan Kamal, Law Minister Anisul Huq, Information 
and Broadcasting Minister Dr Hasan Mahmud, Commerce Secretary Tapan Kanti 
Ghosh, Bangladesh Competition Commission Chairman Md Mofizul Islam, Digital 
E-Commerce Cell Head and WTO Director General (Additional Secretary) Hafizur 
Rahman, IGP Dr Benazir Ahmed, Director General of RAB Chowdhury Abdullah Al-
Mamun and other senior officials were present at the meeting.  

  Earlier, Commerce Minister Tipu Munshi requested people to control their 
buying spree of products at low prices from e-commerce platforms to prevent 
fraudulent incidents.