Bank loans

E-commerce sites want bank loans for digital business ID

E-commerce entrepreneurs today urged the government to grant them bank loans on the basis of their business digital identification (DBID) instead of business licenses.

“Many e-commerce and F-commerce entities do not have a business license and do not have access to finance. DBID should be used as a substitute for the business license,” said AKM Fahim Mashroor, CEO of AjkerDeal , an e-commerce platform.

“Bangladesh Bank can issue orders for this to accept DBID as a replacement for business license for e-commerce and f-commerce sites,” he added.

The Department of Commerce launched the DBID for e-commerce businesses in February this year to check for irregularities in the industry.

He spoke in the first of a series of e-commerce policy dialogues at the Sonargaon Hotel in the capital.

The Department of Commerce and USAID in association with Aspire to Innovate (a2i) hosted the event.

The National Revenue Board should relax the new requirement in the Finance Bill for mandatory tax reporting for any type of digital business, industry representatives said at the dialogue.

They said logistics companies should be integrated with product delivery verification and escrow systems for online payment.

Tapan Kanti Ghosh, principal secretary at the Ministry of Commerce; NM Zeaul Alam, Principal Secretary of the ICT Division; AHM Shafiquzzaman, Director General at the National Directorate of Consumer Rights Protection; Md Hafizur Rahman, Deputy Secretary at the Ministry of Commerce; Rezwanul Haque Jami, e-commerce manager at a2i; DAI Global consultant Zeeshan Kingshuk Huq also spoke.