1 Report on “Flood insurance can be a key to minimize the risk of Bangladeshi farmers’’ Submitted to - Fahad Zeya Lecturer Department of Finance & Banking Faculty of Business Studies Comilla University. Submission Date:27th September, 2020
Submitted by Serial No. NameID 01Rabeya Basri11817051(Leader) 02Priya Saha11817013 03Sumi khandakar 11817045 04Tisha Saha11817034 05Tumpa Akter11817011 06Imtias Uddin11817009 07Anika Tabassum11817047 Letter of Transmittal 2
11th September 2019 Fahad Zeya Lecturer Department of Finance & Banking Faculty of Business Studies Comilla University. Subject: Submission of the report on ‘’Comparetive analysis on the Consumer Protection Act and its practices in Bangladesh ” Honorable Sir, This is a great pleasure for us to submit the report on “Comparetive ayalysis on the Consumer Protection Act and its practices in Bangladesh” as a per your guideline and instructions.Making this assignment,we have been a great pleasure & an interesting experience.Here we are submitting our assigmment. Therefore, we beg your kind consideration in this regard; we will be very grateful if you accept our assignment and oblige us thereby. Sincerely yours, Rabeya Basri On behalf of the group “Group 04” Department of Finance and Banking Comilla University Acknowledgement 3
As the students of Faculty of Business Studies, this report is an essential part of our academic purpose. We have gathered a lot of practical knowledge and experience by preparing this assignment. Thanks to Allah who gives us the opportunity to complete this task properly. A lot of people helped us by providing information about the assignment. They also provided us valuable advice and guidance. In this regard, at first I want to thank our FIN:107 ’’Principles of Marketing’’ course instructor, MD Amdadul Hoque, Assistant Professor, Department of Finance and Banking. His constant presence and words of encouragement inspired us to do our best. We would like to pay our gratitude to all of the related books, authors and related Web Sites that helped us a lot for the completion of this assignment before, during, and after the working period. Table of Content No.ContentPage No. 01Introduction of the study:6-8 4
No.ContentPage No. Introduction Statement of the problem Significance of the study Objectives of the study Methodology Limitations of the study 02Overview of existing laws for consumer protection in Bangladesh 8-12 03Opinions of the consumers regarding existing law in Bangladesh 12-13 04Present situation and status of the consumers in Bangladesh 13-17 05Status of preservatives and adulteration in Bangladesh 17-18 06Major problems faced by the consumers18-19 07Recommendations and implementation strategy 19-21 09Conclusion 21 Introduction The term consumer protection law has become the talking issue now-a-days.Consumer is the person who purchase products for personal use.To purchase good quality products consumer protection law is needed.Consumer protection laws are a form of government regulation which desires to protect the rights of consumers. For example, a government may require businesses 5
to disclose detailed information about products—particularly in areas where safety or public health is an issue, such as food. Actually in Bangladesh,there was no specific law for a long time on the protection of consumer’s rights. After prolonged advocacy and lobbying by the Consumer Association of Bangladesh (CAB) with the government and the policy makers a draft Consumers Protection Law was formulated long time back. Last Care-taker Government passed an Ordinance in this regard in 2008. The present Government has enacted a “Consumer Rights Protection Act, 2009” on 6th April, 2009. In this report we can know the consumer protection law of Bangladesh and present status of this law,the problem we face in this law and the recommendations and suggestions for the development of consumers rights. Statement of the problem People who is belonging to the poor and fixed income groups continue to rule under the burden of spiraling prices of essential commodities and that too in short weights and measures, not to speak of the quality.Under free market economy the buyer is a mute victim of manipulated market forces in the country. It is happening due to long-drawn out absence of a consumer law. The provisions of consumer protection can be found at Articles 15 and 18 of the constitution. However, these provisions are mainly focused on the vital issues of ‘health’ and ‘food’ than on other consumer rights.Apart from these, Bangladesh also has a few specific consumer protection legislations which are ‘scanty’, scattered over a whole range of consumer interests.Therefore, there is no successful consumers’ protection law in Bangladesh. The main reason of weak consumer movement in Bangladesh is that consumers are not aware about their rights, whereas in a market economy they ideally are the kings. Here it is still emerging stage as consumer awareness grows with literacy. But consumer movement is complicated due to our socio-economic condition is not so good. 6
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