Evaly willing to change business model, if necessary

Evaly is ready to change its business model if it is required to do so to come out of the ongoing crisis.

Its managing director and chief executive officer, Muhammad Rassel, has also claimed that his company has been doing business complying with the laws of the land.

At a virtual press briefing on Thursday, he denied allegations of money laundering by his firm.

Rassel expressed hope that the e-commerce marketplace in Bangladesh will be able to overcome the crisis without having to change its existing business model.

Mentioning that both buyers and sellers are going through some difficulties for the time being, Rassel hoped that the stalemate will end soon.  

"We have been doing business in compliance with all relevant laws of the country. Even after that, if any law has been breached we will resolve that. If necessary, we are willing to change our business model."

Rassel, however, did not mention clearly what might be the new business model.

Evaly has been going through many controversies because of its business model and product delivery system.

The Bangladesh Financial Intelligence Unit of the Bangladesh Bank froze the company's bank accounts. On the other hand, the Ministry of Commerce and E-Cab formed separate probe committees to look into the allegations brought against Evaly.

The Evaly CEO hoped that the bank accounts of the company will be reopened soon after the completion of investigations.     

About allegations of money laundering, he said, "The Bangladesh Bank has the capacity to check money laundering. We want to assist the central bank in this regard. But, I would like to request them to investigate the money laundering issue keeping our bank accounts open."

Replying to a question if Evaly can leave the country with money, Rassel said he does not think that they have to change the business or bring changes to the business model because they can flee the country. "Many bank owners also flee away," he noted.

Speaking on allegations of failure to deliver products on time, he said such complaints are there even against online marketplaces like Amazon. "As there are complaints, Amazon has a complaint centre."

"We have a team of 70 members who try to resolve the complaints. Maybe, there are some issues regarding refunding. However, we will try to address all issues. The Evaly call centre will also be modernised."  

About aggressive marketing, Rassel said they had to go for aggressive marketing to attract buyers. "But we did not do anything wrong. Our buyers are very much satisfied. The average delivery time of our products are 7-10 days. In the case of bikes, the time is 25 days, although it took 90 days sometimes. But we do not keep buyers' to ourselves and keep them waiting."