CIS, Egypt Trust sign contract to activate e-signature for transactions

Egyptian Cooperative Insurance Society (CIS) has completely signed a contract with Egypt Trust to activate the electronic signature service for its transactions, according to a senior official.

The electronic signature for transactions will be activated before the end of the current year, CIS chairman Hossam Abdel Aziz told Amwal Al Ghad on Monday.

In July 2006, the Egyptian Information Technology Industry Development Agency (ITIDA) issued 4 licences to practice the activity of e-signature services for the following companies; ACT, MCDR, Egypt Trust, and SNS.

ITIDA also issued on 28th September 2009 the licence for the Egyptian government CA to offer the e-signature services for the public sectors only.

E-signature law, issued in 2004 and established by ITIDA, supports the country’s e-commerce industry by securing the Internet as a legally viable medium for online financial activities. It means that a buyer does not need to physically sign a document when entering into a transaction online.

Established in 2005, Egypt Trust (Egyptian Company for Digital Signature and Information Security) is based on the Information Technology Industry Development Agency (ITIDA), which sets the main basics for data security, protection, and validation of digital signatures.