Economic Reporter :
Ministry of Commerce said membership of Real Estate and Housing Association of Bangladesh is mandatory to run housing sector business in the country.
It issued a circular making the directive on Thursday with immediate effect. On August 2, 2016 REHAB submitted an application to the ministry seeking the order.
“The government has decided that the developer companies will be required to have REHAB membership to run their business,” said the circular signed by Additional Commerce Secretary Md Abdul Mannan.
The decision was taken as per Section 13 (1) of Trade Organisation Ordinance of 1961, it added.
Sources said on August 2, 2016, REHAB sent a letter to the commerce ministry for issuing the circular of making membership compulsory for realtors “as the reputed firms were facing some problems due to forgeries by the so-called real estate companies which are not members of the REHAB.” REHAB alleged that the non-REHAB members were cheating the clients, which caused enormous loses to the real companies.”
According to the sources, there are 1,074 members registered with REHAB and there are around 1,500 realtors who don’t have REHAB membership.
Meanwhile, the Rehab leaders have welcomed the government decision. Contacted, REHAB Vice-President Liakat Ali Bhuiyan told that “Non-member realtors deceived clients, which tarnished the image of the country’s overall real estate sector. But, we cannot take any action against them, as they are not under our organisation.”
“If they become the member of REHAB, they would not be able to do any wrong with the clients, as they have to be compliant by fulfilling some criteria during receiving Rehab membership,” said he.
Ministry of Commerce said membership of Real Estate and Housing Association of Bangladesh is mandatory to run housing sector business in the country.
It issued a circular making the directive on Thursday with immediate effect. On August 2, 2016 REHAB submitted an application to the ministry seeking the order.
“The government has decided that the developer companies will be required to have REHAB membership to run their business,” said the circular signed by Additional Commerce Secretary Md Abdul Mannan.
The decision was taken as per Section 13 (1) of Trade Organisation Ordinance of 1961, it added.
Sources said on August 2, 2016, REHAB sent a letter to the commerce ministry for issuing the circular of making membership compulsory for realtors “as the reputed firms were facing some problems due to forgeries by the so-called real estate companies which are not members of the REHAB.” REHAB alleged that the non-REHAB members were cheating the clients, which caused enormous loses to the real companies.”
According to the sources, there are 1,074 members registered with REHAB and there are around 1,500 realtors who don’t have REHAB membership.
Meanwhile, the Rehab leaders have welcomed the government decision. Contacted, REHAB Vice-President Liakat Ali Bhuiyan told that “Non-member realtors deceived clients, which tarnished the image of the country’s overall real estate sector. But, we cannot take any action against them, as they are not under our organisation.”
“If they become the member of REHAB, they would not be able to do any wrong with the clients, as they have to be compliant by fulfilling some criteria during receiving Rehab membership,” said he.
