The Central Bank of Uzbekistan announced on Monday that it developed a new draft law on electronic commerce.
The main goal of the law, which is called "On Electronic Commerce," is to create favorable conditions for the effective functioning of e-commerce and establish legal mechanisms for the protection of citizens.
The new draft law cancels the mandatory requirement for a digital signature on an electronic document for individuals involved in e-commerce and allows the use of a one-time signature identifier. It also expands the composition of information brokers who provide e-commerce users with services for conducting electronic transactions. Information brokers include operators of telecommunications networks, paying agents and individuals engaged in the organization of electronic trading
Additionally, the draft law establishes new requirements for sending a commercial offer and the acceptance of commercial offers. It also introduces a regulation on the registration of invoices and other documents.
The draft law also introduces rules on state regulation in e-commerce by an authorized government body.
The proposed law will be subject to discussion with various government ministries as well as members of the public.
- Amirbekyan of Anelik Bank wins TFP Trade Expert award
- UniCredit sells non-performing mortgage loans
- European Investment Bank lends millions to AccessBank to finance small businesses
- First Ukrainian International Bank among most transparent financial institutions in region, study says
- VTB Bank named best trade-finance bank in Russia by magazine
- AtaBank, Central Bank of Azerbaijan Republic host financial literacy event
- Richard de Keijzer named managing director for ABN AMRO Commercial Finance in the UK
- Galt & Taggart named Best Investment Bank in Georgia by Global Finance magazine
- Armeconombank customers can repay loans via Idram, EasyPay terminals
- Kapital Bank joins American Bankers Association