Sources in the ministry of commerce told Weekly Blitz that MLM laws exist in most of the countries in the world, while due to absence of such laws in Bangladesh, several MLM companies were already engaged in mass fraud by offering trees, plots, shops and plots in imaginary projects, while there had not been any law to protect the people from being visibly looted by these MLM companies. It said, parliamentary committee decided to formulate MLM Companies regulation laws on September 30, 2010. This decision was taken when thousands of Bangladeshi people were already cheated by an MLM company named Unipay2U. Once the law is approved by the cabinet and the parliament, a separate directorate will be formulated to regulate and monitor activities of the MLM companies in Bangladesh. Once the law becomes effective, punitive measures will be taken against those MLM companies, which are engaged in selling trees, apartments, shops, plots as well as other imaginary packages to its clients. [Read More]

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Source: Weekly Blitz :: Writings