JEDDAH, 8 March 2005 — The legality of electronic trading will be discussed threadbare at a three-day conference opening today at the Jeddah Chamber of Commerce and Industry.
Experts drawn from different fields — Imams, judges, university professors, consultants, lawyers and businessmen — will be participating in the forum sponsored by Prince Bandar ibn Salman, the head of the Saudi Committee for Arbitration.
Organized by the Saudi committee and the Cairo Center for International Trade Arbitration, the forum is titled “New directions in electronic business transaction and the effect of electronic signing from an Islamic law perspective”.
It will discuss the legality of signing trade contracts using electronic and computer technology, and the Islamic legality of this issue. Signing contracts using the new technology will enable Saudi businessmen to close deals without traveling abroad to sign contracts. Today’s session will be headed by Prince Bandar. It will feature lectures by Dr. Nasir Al-Mehimeed, the head of the courts in Asir region, and Dr. Abo Al- Eneen, the head of the Regional Cairo Center for International Trade Arbitration and the general secretary of the Arab Union for Arbitration. The forum will also discuss ways of dealing with scientific problems regarding electronic signing, international arbitration, international ramifications of e-commerce and conflict of judicial interests and arbitration.
