FSC: the launch of a framework governing the use of digital signatures

Present at the ceremony, Mahen Seeruttun, the Minister of Financial Services and Good Governance, highlighted that digital signature was first introduced through the Electronic Transactions Act in 2000, which also amended the articles of the Civil Code.

He added that the financial services sector is one of the industries that continued to operate when the country was completely paralyzed by the Covid-19 pandemic. Service providers have been able to adapt easily to the digital world, but above all because the FSC has very quickly adapted to the need for digital tools.

It is worth noting that the FSC is in the process of producing a set of detailed guidelines outlining what it expects the sector to do when using digital signatures in its financial activities, in line with the digital transformation of the services sector financial.

In addition to improving efficiency, this program also ensures compliance with the highest standards of data integrity and protection. According to Statista, the global e-signature market was valued at approximately $3.9 billion in 2022 and is expected to reach $43.14 billion by 2030.