Post by congregatio on Feb 6, 2019 7:44:30 GMT 4
MLETR
The reason for this introduction is to prepare Bahrain for the inevitable future in which the system is used as a norm around the world. It is only a matter of time before digitalization of this kind becomes universal, and to be at the forefront and a key player may prove of significant advantage in the coming years.
The Electronic Transferable Records Law will put into effect electronically similar documents to the likes of receipts, cheques, bills of lading and more; this will negate the need for the usual physical paper documents and make for smoother transactions and more streamlined processes.
Updates have also been made to the already existing Electronic Communications and Transactions Law of the nation to reflect these changes and push for greater use of electronic methods and systems of communications within the nation's companies.
The reason for this introduction is to prepare Bahrain for the inevitable future in which the system is used as a norm around the world. It is only a matter of time before digitalization of this kind becomes universal, and to be at the forefront and a key player may prove of significant advantage in the coming years.
The Electronic Transferable Records Law will put into effect electronically similar documents to the likes of receipts, cheques, bills of lading and more; this will negate the need for the usual physical paper documents and make for smoother transactions and more streamlined processes.
Updates have also been made to the already existing Electronic Communications and Transactions Law of the nation to reflect these changes and push for greater use of electronic methods and systems of communications within the nation's companies.