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Source: https://me.mashable.com/
Contracts and agreements for government transactions can also be completed virtually now.
Remote working has become a norm rather than an option in the new normal, while digital businesses are flourishing in the UAE, where cities were equipped for the accelerated migration towards tech, thanks to consistent internet connectivity. Prompted by rise in online banking and fintech, government agencies as well as local bodies in Emirati cities also made online bill payment simpler for residents, which enabled them to sail through the lockdown, and continues to be a crucial online service.
With virtual meetings being the in thing for tech-savvy entrepreneurs and digital professionals, a large number of people had started considering email or even social media exchanges as official confirmations for a deal, even though they weren't legally recognised. To make sure netizens are able to conduct their business transactions online, without having to be present physically for verification, the Emirati government has announced the legalisation of digital signatures, along with a number of other reforms to laws that govern the virtual realm.
Entrepreneurs can now speed up new projects by signing papers online, and contracts or agreements associated with government transactions will also be cleared if they are digitally signed by an organisation or individual. Cross-border business deals will also receive a boost, since people can sign a contract virtually from any part of the world, as long as the other country as authentication mechanisms same as the UAE.
Other than trade deals, personal services like notary, marriage and transactions related to sale or purchase of property, along with rent agreements, will be empowered through legalisation of e-signatures.
Before this, firms in the UAE have started offering tech that allows Emiratis to use their digital ID as a signature for online contracts. In addition to that verification for bank accounts is now possible with facial recognition via smartphone cameras.
Accelerated demand for virtual meetings along with remote work during the pandemic, is a major reason behind the policy update about digital signatures.
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