Evaly, a Bangladeshi e-commerce company, was under investigation for alleged embezzlement of Tk338 crore and irregularities in its operations. Several banks and payment services suspended transactions with Evaly. The Commerce Ministry ordered Evaly to deliver products within 5 days and notify customers, and threatened to confiscate Evaly's assets if it failed to meet its liabilities. Amid these issues, Jamuna Group announced plans to invest Tk1000 crore in Evaly over time to help the company.

1. By
Nazifa Tabassum & Wahab Shams

2. Bangladesh Bank acts as the payment gateway
between the buyers and the sellers.
BRAC Bank, Bank Asia, Dhaka Bank Ltd
proceeded to temporarily suspend card transactions
made with 10 e-commerce sites, including Evaly.
Evaly agreed on welcoming the legislation onto
their business venture.

3. The Commerce ministry orders e-commerce companies
(like Evaly) to deliver products within 5 days and notify
the customers via email, text or phone call.
The Ministry of Commerce asks the Ministry of
Home affairs and ACC to file a case for
embezzlement against Evaly of Tk338 crore due to
the irregularities found during the investigation.

4. After the alleged embezzlement was
requested, CEO, Mohammad Rassel
and Chair-woman, Shamima Nasrin
was suspected to leave Bangladesh.
ACC quickly imposed a foreign
travel ban on the couple.

5. Despite being in constant scrutiny with ACC
and the Commerce Ministry, Evaly receives
Tk200 crores worth of orders on a single
night.

6. Evaly puts up a notice of discontinuing any product
delivery based on vouchers after multiple merchants
discontinued partnership and supplying products. The
notice further dictates that only their online customer
service and product delivery will continue. Mohammad
Rassel claims to work from home during this period.

7. bKash suspends payment service with Evaly
and 9 other e-commerce merchants, stating
that companies can use the payment method
after implementing the guidelines as
Bangladesh Bank instructed.

8. The Commerce ministry demands a plan
from Evaly regarding meeting their
liabilities to customers and other merchants.
The Government inputs, in failure of
meeting their liabilities, they will either use a
liquidator or confiscate Evaly’s assets.

9. Amidst the hiatus, Jamuna Group decides
to invest Tk1000 crores in Evaly, as
mentioned in Evaly’s press release. Starting
with an initial Tk200 crores, the investment
plan will reach up to Tk1000 crores. Evaly
ensures using this investment for the
betterment of the e-commerce company.