The Ministry of Commerce and Industry (MOCI) has launched an initiative to regulate the activities of electronic auctions. The initiative comes within the framework of the Ministry's role in overseeing, controlling, and regulating commercial activities and taking the necessary measures to protect the consumer in terms of his right to obtain high-quality products, to combat commercial fraud and to protect competition.
The Ministry added that the initiative aims to ensure the speed in implementing the measures and to achieve the principle of integrity and transparency in everything related to auctions, in order to protect commercial and economic environment.
The Ministry also clarified that the organizers of the electronic auctions must submit an application to set up an electronic auction attached to the list of goods offered during the intended auction. Once the Ministry’s approvals are obtained to hold the auction, the location of the goods offered in the auction shall be announced 24 hours before its holding, provided that the location should be a public place.
It is worth noting that the place for submitting applications is in the Registration and Licenses Department, second floor, located in the MOCI building, Lusail City.
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