Many e-transactions including e-banking, e-gov and e-commerce are tremendously growing worldwide. We could easily notice that it is happening and spreading everywhere every day and every hour.
Banks and other business companies and institutions, in many countries, are benefiting from this new atmosphere and are offering diversified e-transactions. The e-gov, projects likewise, as we see, are rapidly taking shape and started to pursue the performance of many essential government transactions that are needed as necessary and immediate services for any person in this e-era.
Needless to say, that e-banking, e-transactions and e-gov services depend to a large extent on the output of electronic software and other media that requires proper utilization and implementation of the internet and its technological fields that has erupted as consequence to the new IT revolution.
The establishment and implementation of e-companies and e-gov projects in many countries, will no doubt, give a great boost to all services, particularly it will enhance to a great extent, the new commercial and other investment activities. However, the potential of such electronic services are in need of certain infrastructure that should be put in place in order to give the necessary impetus to such important e-projects and necessary e-services.
One of the main infrastructures needed for the new technologies that came as a result of the IT revolution, is the legal platform and the legal framework that should be cemented carefully. This sensitive task should be shouldered with due diligence and professionalism, taking into account the experience of advanced jurisdictions in this respect. There is a great need, also, for cyber laws to combat e-crimes and e-criminals.
The internet and related software activities, as we know, is a sort of computer program primarily aimed at linking certain points electronically. Within this context, it is important to highlight some legal problems or issues that could affect the e-transactions process unless certain legislations are put in order and properly maintained with the intention of developing such new advanced processes.
The e-transactions and the e-projects will no doubt enhance the expansion of e-commerce with other business entities in all parts of the world. However, we have to admit that e-banking and e-commerce transactions are still facing some legal, commercial and logistical problems. Among other things, we mention that, payments systems worldwide are still facing some practical difficulties.
Some companies may be out of competition because they don’t have developed websites, or even if they have, are unable to display their products in an attractive marketing or informative way.
Some commercial entities or individuals are still facing computer literacy and part of e-commerce business is processed through some mediators and the mediation process requires legalization of the relationship between the parties concerned. Some of the main software companies, in the world, are regularly facing certain legal litigation among themselves or with their governments. Such litigation or acute legal problems may affect the future of such programs or delay their start.
Above points explain that e-banking, e-transactions or e-commerce are not without their share of obstacles. No need for getting panicked, as this could happen to all other sectors and in all trades. However, some of mentioned obstacles raise an urgent call for clear positive legal steps to be taken, so as to prepare a healthy legal environment for all types of e-transactions, e-banking and e-gov projects to achieve complete and endless benefits to stakeholders in all communities.
Dr AbdelGadir Warsama Ghalib is a corporate legal counsel.
Email: [email protected]