The Present Scenario of F-Commerce in Bangladesh with a Special Emphasis on the Necessity of Legal Framework for more Viability in Financial Activities

Abstract F-commerce or facebook commerce in Bangladesh is rapidly growing, driven by widespread smartphone use and social media engagement. Small and medium enterprises (SMEs) leverage Facebook to market products and engage customers directly. Mobile money services like bKash and Nagad facilitate smooth transactions. Delivery services such as Pathao and eCourier handle logistics efficiently. F-commerce in Bangladesh represents a dynamic and rapidly growing sector that offers significant opportunities for economic growth, especially for SMEs looking to expand their customer base and increase sales through digital channels. Despite the potential, challenges include regulatory issues, trust concerns, and the need for improved digital literacy among sellers and buyers. Overall, F-commerce is a vital part of Bangladesh's e-commerce landscape, providing a significant boost to local businesses and contributing to economic growth. One of the key considerations for people to use this F-commerce is quick usability and less spending. This exploratory study is intended to observe the adoption of F-Commerce in the context of Bangladesh and to recognize its possible consequences. During the month of October-November 2024, a collection of group discussions with 385 customers and detailed case studies on 100 Bangladeshi f-traders were carried out. Study finds that In Bangladesh, most F-Commerce transactions occur via cash on delivery and remain unrecorded, leading to significant tax evasion. As a result, the government loses substantial revenue. To ensure transparency, accountability, and fair taxation, both customers and sellers put emphasis on bringing the F-Commerce sector under a proper legal framework, benefiting both the economy and the growth of digital businesses. Here this paper also aims to find out the scope of improvement of the F-Commerce sector along with the challenges and with few recommendations from 20 social scientists and legal experts. KEYWORDS: F-commerce, legal framework, viability, financial activities etc.