Legal Aspects of Internet Banking in Contexts of Internal and International Laws

The modern world deals with great changes on communication of information and development of new technologies of communication and information, making it inevitable to apply new management, economic, political, and legal methods and strategies. The new information and communication that is the basis of management in the modern world requires proper mechanisms and infrastructures in order to make the development of business and good environment for entrepreneur possible. One of the most important infrastructures is internet banking. Arising any issue, whether political, social, economic, or cultural, has consequences associated with different internal or international outcomes, regardless of their positive or negative results. Since financial issues have been always the most challenging issues in human societies, internet banking is dealt with economic issues in a different and new way and hence, it may include regulations to meet, internally or internationally, the legal needs of clients and custodians and contribute to developing this technology further. Global central bank thinking and a uniform treaty for internet banking with strategic rules and regulations to resolve the financial disputes arising from internet banking is an instruction for pragmatists in reaching a global uniform procedure, which is considered as the most important outcome of modern communication, i.e. internet banking. Drafting and adoption of the International Convention on internet banking under considerations of the United Nations Commission on International Trade Law through instructions and procedures of the central bank providing two conditions of goodwill and safety is an introduction for the realization of internet banking, which needs the contribution and cooperation of all countries including Iran. Internet banking may be misused and have harmful consequences for economy as much as it can contribute to develop economic, financial and banking activities. Aiming at improving internet banking and treating against violators and maintaining the clients' values, legal rules, either internal or international, are to maintain the clients' rights on the one hand and contribute to strengthening the foundations of this new economic technology on the other hand. In this context, this paper aims at study the legal aspects of internet banking in contexts of internal and international laws and explores the related rules with this technology briefly.