The Electronic Transactions Act [Law no. 2/2022] has been ratified, marking a significant turning point in the Maldives transition to the digital age. 

The Electronic Transactions Act develops a system to guarantee the legitimacy of electronic transactions and to encourage the use of trust services in electronic commerce. 

Additionally, it provides an overview of the rules governing the use of trust services and electronic transactions. 

The Act aims to facilitate electronic transactions, ensure legitimacy of electronic transactions conducted domestically and internationally, remove legal barriers to conducting electronic transactions, integrate electronic signatures and trust services, and encourage electronic communication while attempting to build public confidence in such exchanges.

Due to the multiple barriers faced by developing countries, it is important to establish legal frameworks for electronic transactions that minimize risk and are flexible enough to meet the demands of the modern world. 

With the enactment of the Electronic Transactions Act, the Maldives has laid a solid foundation for the continued growth and success of electronic transactions.