التنظيم القانوني للتكنولوجيا المالية في التمويل التجاري – دراسة مقارنة –

Legal Regulation of Fintech in Commercial Financial -A Comparative Study-

The topic of commercial financing through financial technology is one of the most important legal topics that has received its appropriate share of study and analysis. This is the most prominent reason that prompted us to choose this topic. The Finance Committee has now become one of the most important sectors used in financial technology, so I conducted a study examining this topic. The subject and its specializations partly in which it participates in its appropriate identification of matters that would discover the effective deficiency in achieving appropriate solutions to them.
In this context, many pivotal questions emerged that the researcher tried to answer during the research, the most important of which is how the financing process takes place through platforms and what are the legal relationships arising from it, and we answered it according to the legal texts we found. Among the other pivotal questions that aroused the researcher’s interest are: It relates to the legal status of companies that manage commercial financing platforms through financial technology. In order to answer this question, we found that the jurisprudence differed according to several opinions, and the most likely opinion stipulated by some legislation regulating the financing process is that it is considered one of the forms of financial intermediation. Another important question is to clarify the entities that grant licenses to financing companies and exercise oversight over them. In order to answer, we found that legislation has determined that the Central Bank is the competent authority for financing based on lending, and the Securities Market Authority is for financing based on equity participation or ownership.
As a result, the researcher found that the financing process consists of three basic elements, which are collecting sums of money from a large number of financiers and directing them to the beneficiaries, using digital technologies. From this matter, the researcher concluded a number of results that he believes are consistent with this study. The most important of which is the result that financing directs emerging projects and institutions, and is done through an electronic platform available on the Internet that is used to present project ideas to people who wish to obtain them and allows the exchange of data and information necessary to complete this process. It is managed by licensed companies, and the relationship between the commercial finance company is determined. Clients (beneficiaries and financiers) comply with the model contract drawn up by the company, which results in breach of the imposed obligations leading to the civil and administrative responsibility of its parties.