Photo: BigstockEarlier, cross-border export under e-commerce was allowed only against payment received through the internet before shipmentThe 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 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.

Source: Dhaka Tribune December 21, 2020 18:22 UTC