BB: Foreign digital items can’t be resold on e-commerce platforms

Bangladesh Bank has barred placing digital items purchased under individual or corporate entitlements of foreign exchange on e-commerce marketplaces or platforms for sales.

The digital items or services include e-books, music, research and data, software, etc.

In a notice issued Thursday, BB said it had noticed that digital items were on display at e-commerce marketplaces or platforms for sales to the residents against payment in local currency. 

This type of sales flouts provisions of the Foreign Exchange Regulation (FER) Act, 1947, unless settlement of payments against the procurement for commercial trading from external sources has been made by outward remittance through banking channel under a general authorisation, the notice said. 

The procurements are subject to payment of applicable duties, taxes and other levies, it said.