Software exporters urge BB to increase transaction limit

Staff Correspondent

18 November, 2019 12:00 AM printer

Software entrepreneurs have urged the central bank to increase card transaction limit to maintain the growth of emerging digital marketing sector in the country.

Trade body leaders came to move when several banks have begun the process of restricting access to international credit and pre-paid cards, which is affecting both direct and indirect people and institutions involved in digital marketing.

Bangladesh Association of Software and Information Services (BASIS) leaders made the recommendation while called on Bangladesh Bank Deputy Governor Ahmed Jamal on Sunday.

BASIS President Syed Almas Kabir led the delegation includes Vice President Shoeb Ahmed Masud and Digital Commerce standing committee’s chairman Syed Mohammad Kamal.

In a statement, BASIS informed that several banks have stopped the facilities of international card transaction recently though the central bank has directive to promote international credit and pre-paid card to enhance the convenience of its citizens to buy goods.

BASIS President Syed Almas Kabir said the central bank should review the present scenario to allow cards from banks and financial institutions by submitting the required documents which can be used to pay up to $25,000 a year for digital marketing.

There are about 1000 agencies, big and small, involved in this growing digital industry. Besides, there are numerous freelancers, production houses, content creators and many others involved in the industry.

Sector insiders claimed the advertising agencies account an annual expense of more than Tk 20 billion on digital marketing domains on different internet media.

“The industry employs approximately 50,000 to 80,000 people who are constantly creating numerous digital content and business services and delivering various digital media services (advertising distribution, purchasing, advertising technology platform, native content platform,” Almas added.

Recently, several banks have closed this facility which resulted business losses to individuals and organisations in digital marketing sector in the country.