Legal Issues Facing Digital

Abstract

E-banks achieve many advantages for both customers and the bank itself. They are an effective way to attract customers who are comfortable with online transactions by offering banking services around the clock while saving effort. E-banks also play an important role in reducing costs, easing access to local and international markets, and increasing commercial banking transactions, all while improving the banking service and increasing the bank’s efficiency. At the same time, the need for banks to open new branches is reduced. They also provide diversity by offering new services, such as technical and investment consulting, which can contribute to the development and growth of e-commerce. However, there are legal and technical challenges facing the spread of e-banks, which entail an increase in the level of fear by the public in dealing with them—particularly regarding electronic payment methods provided by banks and the threat of information security.

This entails providing the appropriate environment for the practice of e-commerce and e-banking, most notably by securing communications and developing maintenance work for electronic means of communication, as well as providing programmes and protocols for security standards and working on developing software with the necessary continuity and speed.