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FINANCIAL NEWS
E-commerce transactions reach USD600m in Saudi Arabia
18 Mar 2017
(MENAFN) The Secretary-General of the Consumer Protection Society (CPS), Abdulrahman Al-Qahtani announced that volume of e-commerce transactions in the Saudi market amounted to around SR2.25 billion ($600 million) in 2016.
Also, he said it is necessary to protect consumers who engage in online transactions from fraud and exploitation, which can occur due to deceptive advertisements and unfair practices.
On the other hand, he appreciated the efforts exerted by relevant entities in this regard. However, there is an urgent need for developing comprehensive government regulations that ensure consumer rights are protected when they shop online.
However, he stressed on that the Kingdom should benefit from the exemplary frameworks and legislations formulated by a number of regional and international entities to organize e-commerce.
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MENAFN1803201700450000ID1095322145
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