A new Iraqi e-commerce act — a new move to openness
Legislation relating to e-commerce has recently been approved and issued in Iraq. The Electronic Signature & Electronic Transactions Law No. 78 of 2012 was approved by the Presidential Council on 18 October 2012 and published in the Official Gazette (issue number 4256) on 5 November 2012. The Iraqi Parliament Council of Representatives passed the final draft of the law by majority vote of Iraqi legislators. This briefing summarises the main points as provided by the law in order to explain its significance and impact on transactions relating to e-commerce in Iraq.
The issuance of this Law is construed to be an important event due to the fact that Iraq was in need of modernized legislative frameworks to keep pace with the evolution in Information Technology and Communications (ITC) revolution and strengthen the legal basis and frameworks for the Electronics Transactions through modern means of communication…
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