Following reported scams, the central bank on Sunday instructed banks to not take advance payments from consumers of digital marketplaces.
According to a circular issued on the matter, banks have been asked to not take payments against goods and services ordered by consumers through e-commerce platforms.
“We have noticed that some e-commerce companies are taking money in advance before delivering the products or services. However, many customers have complained of being deceived, even after advance payments. After many such allegations, we verified the matter,” said Sirajul Islam, executive director of Bangladesh Bank.
“E-commerce companies will not be able to deposit any money directly from customers in their own bank account. They are told that until a customer receives the product or service they have purchased, the money should not be sent to the accounts of those institutions-- even if they have paid in advance,” he added.
The directive has been sent to the managing directors and chief executive officers of all commercial banks.
Earlier the commerce ministry had asked digital marketplaces to take payments only after the completion of delivery of goods to consumers, while a third party called gateway would hold the money until then.
After the e-commerce sector was taken by storm following a barrage of scams, the ministry had issued a standard operating procedure (SOP).
According to the Bangladesh Bank circular, several e-commerce platforms have not abided by the SOP.
The central bank ordered the banks to exercise proper due diligence and take into account transaction profiles and others of such shop-less e-commerce companies.
