UAE: Experts discuss importance of arbitrage to improve economic environment – News

Sharjah International Commercial Arbitration Center ‘Tahkeem’ hosts panel discussion as part of Dubai Arbitration Week

Participants in the panel discussion organized as part of the Dubai Arbitration Week.  — Photo supplied

Participants in the panel discussion organized as part of the Dubai Arbitration Week. — Photo supplied

Published: Wed 23 Nov 2022 00:26

Sharjah Center for International Commercial Arbitration ‘Tahkeem’ hosted a panel discussion titled ‘Horses for Courses’ as part of the fourth edition of Dubai Arbitration Week 2022. The discussion focused on arbitration and its importance in improving the economic environment of the country, as well as a discussion on the important practices followed in the field of arbitration.

The session was attended by Dr. Asma Al Rasheed, a member of Tahkeem’s executive committee; Mohieeldin Elbana, Founder and CEO of Qaf Legal; and Robert Sliwinski, attorney for Al Suwaidi & Company.

The session began with an introductory presentation on the Sharjah Center for International Commercial Arbitration. The presentation included an introduction to the working mechanisms and nuances observed in arbitration cases, the quality of services provided by the center in accordance with modern international arbitration standards, and the importance of arbitration in promoting economic stability. , increase investment in the country and guarantee a safe and exemplary investment environment.

The panel discussed and analyzed a wide range of topics, including best practices in the arbitration industry both locally and internationally, the types of cases that arbitrators routinely review, and the efficiency of the arbitration process. Differences between the administrative process of cases handled by local courts compared to arbitration institutions were also explained.

The session participants highlighted that the option of resorting to arbitration centers instead of courts has recently gained popularity, preferred by many investors and owners of large companies due to the multiple advantages and facilities that arbitration offers them. Panelists provided examples of disputes that had been resolved through arbitration and highlighted the role of arbitrators during the process. The scope of the faculties of the arbitrators to intervene in the procedures followed in the arbitration in diverse cases and controversies was additionally discussed.

Dubai Arbitration Week is one of the region’s leading annual events related to the exhibition and discussion of the most important specialized niche topics related to arbitration locally and internationally. The week-long event highlights the effectiveness, flexibility, and impact on the business landscape of vital arbitration-related laws, and how these laws greatly contribute to the continued and sustained growth of the business sector at the local level.

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