e-transaction law approved
Legal framework

Parliament has endorsed an e-transaction law, which governs digital documents and contracts for individuals and businesses. It also covers digital crimes and related penal provisions. Gabriel Deek, Chair of Internet Society Lebanon Chapter (ISOC), said the law brings the country’s e-transactions regulations in line with those of other countries.

According to Nabil BouKhalid, Administrator of the local (.lb) Domain Registry, the law regulates digital transactions but does not facilitate them. 

Digital signatures, email correspondence, and contracts are now considered legal, just like traditional documents. The new law also sets forth legal aspects for e-commerce and monetary guarantees. E-banking has also been addressed. E-checks and digital checks will be developed under the supervision of the Central Bank (BDL).

Reported by Samer Rasbey
Source : Businessnews
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