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Internet Banking Law: An Iranian Perspective Problems and Prospects of Introducing Islamic Microfinance in Azerbaijan Republic

Author

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  • Elsan , Mostafa

    (Azarbaijan University of Tarbiat Moallem)

Abstract

Bank supervision and monetary policy are strategic concepts in the economy of countries. Development of electronic communications, especially in online and international spheres, has largely threatened financial services in view of security and illegal access to banking networks. Anonymity and identity theft has endangered electronic commerce by crimes like phishing, fraud and different types of unauthorized access. However these probabilities which sometimes become true have not stopped developing fleet of World Wide Web. In fact successful experience in internet banking indicates the necessity of use of new technologies to facilitate and expedite electronic commerce. In this paper, different legal aspects of internet banking have been analyzed briefly from Iranian law perspective.

Suggested Citation

  • Elsan , Mostafa, 2009. "Internet Banking Law: An Iranian Perspective Problems and Prospects of Introducing Islamic Microfinance in Azerbaijan Republic," Journal of Money and Economy, Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 5(2), pages 85-102, April.
    • Handle: RePEc:mbr:jmonec:v:5:y:2009:i:2:p:85-102
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    More about this item

    Keywords

    Internet Banking; Iranian Electronic Commerce Act; Phishing; Supervision and Monetary Policy;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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