Law to stop MLM business soon: Quader

The government plans to enact a law to stop fraudulent business in the name of multi level marketing (MLM) to protect people from cheating, said Commerce Minister GM Quader yesterday.
“The government is aware so that people don't get cheated…people will also have to be aware of fraud businesses,” he said while addressing a function in the capital arranged by the Modern Herbal Group.
State Minister for Health Mujibur Rahman Fakir also spoke at the programme held with Modern Herbal Group Chairman Alamgir Mati in the chair.
Quader advised consumers to buy products after confirming their valid prices.
He said the government has taken a strong position against the MLM business and it will take stern actions against those who are involved in it.
Earlier, he told parliament that a bill -- Multi Level Marketing (Control) Bill 2012 -- will be placed once the vetting is done by the law ministry.
The cabinet approved the draft of the bill on September 17 last year.
According to the proposed bill, any person or organisation will have to obtain a licence to run such businesses.
The law has penal provision of three to five years' imprisonment and a maximum fine of Tk 50 lakh for not having a licence or for committing forgery in business.