The conceptual framework of Electronic travellers Cheque in the Jordanian legislation: A comparative study

Abstract

Banks and financial institutions offer various dependable and progressive banking services, including traveller’s cheques. The electronic traveller’s cheques especially, are usually not regulated by any laws, including in Jordan. This study examined the stance of Jordanian legislator on the regulation of traveller’s Cheques including the electronic traveller’s cheques, as in the Jordanian Trade Law 1966 and the Electronic Transactions Law 2015, considering the dearth of specific legal regulation on them. The Egyptian and Algerian laws were compared and analysed in this study in terms of their legal provisions on traveller’s cheques and electronic Cheques. The analyses outcomes showed a lack of provisions for traveller’s Cheques in Jordanian laws owing to unresolved issues on the legal nature of traveller’s Cheques, electronic Cheques included. Hence, legal provisions on traveller’s Cheques including electronic traveller’s Cheques should be established in Jordan to regulate this type of banking service.