Approved the formation of its board of directors headed by Tariq Al Tayer

Mohammed bin Rashid directs the establishment of "Dubai International Arbitration" as a major global center

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His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, in his capacity as Ruler of the Emirate of Dubai, approved a decree to form the Board of Directors of the Dubai International Arbitration Centre, the largest center in the Middle East.

The decree stipulated the formation of the Board of Directors of the Dubai International Arbitration Center headed by Dr. Tariq Humaid Al Tayer, and the membership of: Dr. Ahmed Saeed Al Suwaidi, Vice President, Ahmed Saeed Balioha, Ahmed Mohammed Al Rashid, Jihad Abdul Razzaq Kazem, Abdulaziz Mohammed Al Marri, and Graham Kennett Lovett.

His Highness also directed the new board of directors to place the center among the top five centers during the next three years.

business environment

For his part, His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, stressed that the decision supports strengthening the business environment in Dubai and enhances its competitiveness.

His Highness said: "The economic business environment in Dubai is subject to a comprehensive review to consolidate its global position and give impetus to the economic movement in the emirate."

His Highness added: "The Arbitration Center aims to be the best and fastest option for settling disputes, in a manner that serves the financial and business community in the UAE and the region."

alternative methods

His Highness Sheikh Mohammed bin Rashid Al Maktoum approved the merger of the competencies and powers of the “Dubai International Financial Center Arbitration Institution” and “Emirates Maritime Arbitration Center” within the “Dubai International Arbitration Center”, as a permanent, independent, non-profit body that aims to provide commercial arbitration services and settlement Trade disputes regionally and internationally.

The Dubai International Arbitration Center is a non-governmental center that enjoys legal personality and financial and administrative independence. The new board of directors will work to achieve the center’s objectives to consolidate Dubai’s position as a reliable global center for dispute resolution through alternative means, and enhance the center’s position as one of the best options for parties to disputes to resolve their disputes efficiently and effectively. Through the application of international best practices in the management of alternative dispute resolution procedures, in a manner that serves the financial and business community in the UAE and enhances the elements of excellence in it.

• Mohammed bin Rashid directs the new board of directors to make the center among the top five centers during the next three years.

• The new board of directors will work to consolidate Dubai's position as a reliable global center for resolving disputes through alternative means.

Maktoum bin Mohammed:

• «The economic business environment in Dubai is subject to a comprehensive review to consolidate its global position, and give impetus to the economic movement in the emirate».

2500 cases

Established in 2004, the Dubai International Arbitration Center is the largest arbitration center in the Middle East.

The number of cases examined since 2007 reached 2,500.

The center was selected among the top 10 international arbitration centers in the world, according to the annual survey published in cooperation between Queen Mary University of London and White & Case Law Firm.

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