The Telecommunications and Digital Government Regulatory Authority (TDRA) has confirmed that the Electronic Transactions and Trust Services Act, promulgated by Federal Legislative Decree No. 46 of 2021, creates a new stage of global digital transformation in the United Arab Emirates.
The new law improves the digital economy and consolidates the position of the United Arab Emirates, to become one of the leading countries in the provision of digital services. It will accelerate the achievement of national targets and indicators, such as the Online Services Index (OSI), the Ease of Doing Business Index, the Global Entrepreneurship and Development Index, the global competitiveness and innovation indices.
âThe enactment of the Electronic Transactions and Trust Services Act comes into effect at a milestone in our country’s history, as we celebrate the Golden Jubilee of the United Arab Emirates. At this stage, we begin a new chapter towards the United Arab Emirates centenary 2071 by enhancing the digital transformation that impacts the economy, society and all life in the United Arab Emirates, âsaid Talal Humaid Belhoul, Chairman of the Board of Directors of TDRA.
Majed Sultan Al Mesmar, Director General of TDRA, said: âThe enactment of the Decree Law on Electronic Transactions and Trust Services marks the beginning of a new stage in the process of global digital transformation in the United Arab Emirates. This law deals with many details about the daily life of different segments of society, including individuals and businesses. This will have a positive impact on the country’s higher goals, in terms of promoting the digital economy and consolidating the UAE’s global reputation as an investment hub. âThe new law improves procedures for granting grants. licenses on the basis of new services that support digital transactions.It allows many civil and commercial transactions, such as marriage, personal status and notary, as well as real estate transactions, such as rental, purchase , sale and contract amendments. It will increase the efficiency of legal proceedings and the resolution of civil and commercial disputes. It will facilitate the acceptance, creation or retention of files in electronic files. The digital signature will assist in the issuance of authorizations, licenses or approvals, in the form of electronic records, and upon acceptance of fees or other payment in electronic form. It will also allow the electronic placement of tenders and the reception of tenders related to public contracts.
Â© Copyright Emirates News Agency (WAM) 2021.