Money is one of the most important means of trade that
commercial traffic may stop without them, and with the technical
development witnessed by the world, has become the means of
communication featured event of this century, and with this
develo
pment emerged new forms of electronic payment means,
Some of them is a novelty and some of them is an update to
previously existing tools as in the case of coins and paper money,
and one of the most important of these tools are electronic money ,
and because of the importance of electronic money, it has become
imperative to determine what these coins, and the legal nature of
them , as well as e-cash forms, in order to reach a clear vision of the
electronic money as one of the most important means of electronic
trade , and determine how to deal with it in the business
community.
Any researcher in the legal aspects of the banking and
financial activities in general should talk about the activities
which banks and financial institution seek to outsource to
third party, and the risk which may arising from those
activities.
The regulatory competent authorities in the scope
of payment system cannot establish sound legal and
regulatory framework to govern the work of authorized banks
and financial institution without studying the risk may arising
from those processes and establishing guiding principles to
assess ,mange, and mitigate those risk; especially in the field
of activities of electronic money that require inherently
intervention of third parties.
