The e-commerce companies will not be able to take any advance payment directly from the customer as its own bank before delivering the product. In addition, the central bank has instructed the banks to transact by ensuring proper supervision considering the risks.
On Sunday (August 29), the Payment Systems Department of Bangladesh Bank issued instructions in this regard.
The directive sent to the Managing Directors and CEOs of the commercial banks said that recently, it has been noticed that a number of digital commerce companies, in order to avoid 'Digital Commerce Management Guideline-2021' and 'Guidelines issued by Bangladesh Bank', are charging customers for their products and services taking advance money directly.
In this case, in order to manage the accounts of the e-commerce companies, the rationale of the given transaction profile has to be checked and selected. In addition, banks have been instructed to conduct transactions by analyzing the characteristics of the transaction and ensuring proper supervision taking into account the overall risk. The central bank said the directives would take effect immediately.
Earlier, on June 30, Bangladesh Bank said in a directive, "E-commerce companies will not get the sale price without explaining the product or service to the customer." Essential emergency goods will be paid within 5 days and other goods or services within 7 days. However, in this case, the buyer must pay as an e-commerce company after receiving the product.