• Thursday, Sep 23, 2021
  • Last Update : 12:02 am

E-commerce sites allowed exports against cash on delivery

  • Published at 10:00 pm December 21st, 2020
E-commerce_digitalization
Photo: Bigstock

Earlier, cross-border export under e-commerce was allowed only against payment received through the internet before shipment

The Bangladesh Bank yesterday allowed e-commerce websites to export using cash on delivery or payment on shipment terms, in what can be viewed as a massive boost for the sector.

 

Earlier, cross-border export under e-commerce was allowed only against payment received through the internet before shipment.

 

The central bank notice has clarified that payment against export under e-commerce can be received by different payment methods like international cards, online payment gateway service providers, digital wallets and other legitimate payment systems licenced by the concerned regulatory authorities. 

 

The BB has continuously been updating regulations to facilitate businesses and the new rules will help the authorised dealer (AD) banks to facilitate retail export through e-commerce platforms, said a high official of the central bank.

 

Under the revised policy, the AD banks can receive payments against export through e-commerce websites based on cash on delivery or payment on shipment. 

 

In this case, the AD banks shall have counterparty arrangements with foreign payment service providers to realise the payments by debiting from the taka or foreign currency accounts they maintain in Bangladesh.

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