Egyptian Takaful Insurance negotiating with Egypt Trust to activate e-signature for transactions

Egyptian Takaful Insurance (Property) has started negotiations with Egypt Trust to activate the electronic signature service for its transactions within the coming period, according to a senior official.

These remarks were made by vice-chairman of the Egyptian Takaful Insurance El-Sayed Bayoumi on Monday.

E-signature law – issued in 2004 and established by the Egyptian Information Technology Industry Development Agency (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.

In July 2006, 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.

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.