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.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme