In a major setback to businesses in Bangladesh, Facebook's ad agency, Httpool, has announced the temporary unavailability of its services and limited availability of ad space on the Meta platform. This move comes after the agency was unable to clear any payments or send any funds from Bangladesh, leading to a reduction in the ad spend limit of most of its clients.
In a letter addressed to its clients, Httpool cited the lack of USD currency and difficulties with remittances abroad as the reasons for the current situation. The agency's limited availability of ad space on the platform may result in the reduction of available ad space for upcoming campaigns and the possibility of rejection/blockage of current and upcoming campaigns.
The move will hit hard on all f-commerce businesses, especially those that depend on Facebook media buying. Httpool Bangladesh Limited's Director, Sunny Nagpal, stated that the situation was outside the agency's control, and the company was working diligently to resolve the issue as soon as possible.
In response to the news, Facebook-dependent businesses in Bangladesh have expressed concern and frustration over the limitations on advertising on the Meta platform. Many have urged Httpool to find a solution to the issue promptly.
The situation highlights the difficulties faced by businesses in Bangladesh, where remittance payments abroad have become increasingly difficult due to various economic conditions. This move by Facebook's ad agency will have far-reaching consequences, as the Meta platform has become a crucial advertising tool for businesses looking to reach their target audience.
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