Dhaka: Consumers Association of Bangladesh (CAB) and PowerIN AI have signed a Memorandum of Understanding (MoU) to strengthen consumer capacity in artificial intelligence, promote digital literacy, and build a technology-driven consumer protection system through joint research and policy advocacy. CAB Secretary General Humayun Kabir Bhuiyan signed the MoU on behalf of the consumer rights body, while PowerIN AI Managing Director Nusrat Akhter signed for the technology firm at PowerIN AI's office in the capital on Sunday.
According to United News of Bangladesh, CAB President AHM Shafiquzzaman highlighted the challenges in effective market management due to the lack of reliable, real-time information. He emphasized that the government often lacks integrated and updated data on the entire supply chain, which covers production, imports, storage, transportation, and wholesale and retail levels. This data deficiency makes it difficult to properly assess market conditions, detect potential crises early, and take timely policy interventions.
He further explained that AI-driven, data-based analysis could make supply chain monitoring more effective, helping to increase market transparency, prevent abnormal price hikes, and safeguard consumer interests. Under the MoU, CAB and PowerIN AI will collaborate on training, research, technology-based market monitoring, modernisation of the consumer complaint system, policy recommendations, and awareness activities. They will work together to foster innovative use of technology, data-driven decision-making, and a culture of responsible AI use in consumer protection.
PowerIN AI Founder and CEO Muhammad Abdul Wahed Tamal noted that the world has entered a new AI-driven era central to future technological, institutional, and economic transformations. Despite this, public knowledge and awareness of AI remain limited, and its rapid development continues to evolve. He stressed the importance of ensuring responsible and effective use of AI for Bangladesh to become a data-driven state in alignment with these changes.
Tamal expressed that the MoU with CAB provides an opportunity to strengthen consumer digital capacity, support research-based policymaking, and build a technology-driven consumer protection system. He hopes the partnership will make Bangladesh's consumer protection framework more effectively aligned with the demands of the digital age. The signing ceremony was attended by CAB Organising Secretary Abul Kalam Azad, Executive Director Ahmed Ekramullah, PowerIN AI Founder and CEO Muhammad Abdul Wahed Tamal, company consultant Jahangir Alam Shovon, and other officials of the firm.