ICC Qatar, CQUR Bank Partners to Host ‘Mapping the Course for UNCITRAL MLETR Implementation in Qatar’

Doha, International Chamber of Commerce (ICC) Qatar is partnering with CQUR Bank LLC to host the upcoming event titled 'Mapping the course for United Nations Commission on International Trade Law (UNCITRAL) Model Law on Electronic Transferable Records (MLETR) implementation in Qatar'.

The event is set to take place on Monday Dec. 4 at the Qatar Chamber of Commerce premises.

The event will bring together national and international speakers to address the various processes and frameworks that underpin digital trade, and are essential for promoting inclusive and responsible trade.

The event will feature technical-oriented presentations by researcher and professor in Private Law, College of Law from Qatar University, Professor Nisreen Mahasneh, and Head of Sales, Trade Finance, Enigio AB Gunnar Collin. Their insights from both academia and the business perspective aim to advance the agenda of digitizing trade in Qatar.

The program will also include legal-oriented and business-oriented panel discussions, with a specific focus on the UNCITRAL Model Law on Electronic Transferable Records (MLETR) implementation and its foundational role in digitizing trade.

ICC Qatar said that the upcoming event will focus on UNCITRAL MLETR adoption. The adoption will facilitate an ideal environment to build the infrastructure for businesses to conduct transactions using transferable documents and instruments in electronic format. It will also enable the trading system to be systematized into a single interoperable information system, promoting efficiency, and addressing issues where stakeholders in the trading systems often work in silos.

ICC Qatar added, that according to Invest Qatar, the global digital transformation market size is projected to grow almost fivefold, indicating a significant trend in digitalization. Qatar is already embracing this trend, evident in its Qatar National Vision 2030, where digital transformation plays a crucial role in the plan for economic and social development, resulting in increased investment.

Speakers and panelists include Commissioner for Commercial and Common Law, UK Professor Sarah Green; Legal Officer, Secretariat of the United Nations Commission on International Trade Law Luca Castellani; Secretary General, International Chamber of Commerce United Kingdom Chris Southworth; Head of Trade Finance, CQUR Bank Hussam Al Kokhon said "Transforming towards a paperless environment in Trade Finance Business is what MLETR is all about. The future of digital transactions unfolds, shaping the landscape of electronic transferable records. Attendance isn't just a seat; it's a front-row experience to witness the evolution of models that will redefine how we transfer and manage records in the digital era".

He also noted that Transferable documents and instruments are essential commercial tools. Their availability in electronic form may be greatly beneficial for facilitating electronic commerce by, for example, improving speed and security of transmission, permitting the reuse of data and automating certain transactions through "smart contracts".

Source: Qatar News Agency