Tuesday 22 November 2022 – 10.08pm
SHARJAH, November 22, 2020, WAM / Sharjah Center for International Commercial Arbitration “Tahkeem” underlined the importance of arbitration in improving the economic environment in the country by building true partnerships between the government and the private sectors that stimulate the provision of a competitive, fruitful and environmentally friendly environment which encourages continuation in this field.
This occurred during a dialogue session organized by the Center in collaboration with the British Royal Society of Certified Arbitrators, as part of the activities of the Dubai Arbitration Week in its fourth session, at the Waldorf Astoria Hotel in the Dubai International Financial Centre.
The session – moderated by the lawyer Natasha Zahid, Legal Director of Clyde & Co. Allen – was attended by Dr. Asmaa Al-Rasheed, member of the Executive Committee of the Center, the lawyer Mohieddin Al-Banna – President and Founder of Qaf Law Firm and Attorney Robert Sliwinsky – Legal Counsel at Al-Suwaidi & Partners Law Firm.
Ahmed Al-Ajla, director of the Sharjah International Commercial Arbitration Center “Tahkeem” gave an introductory presentation on the center during the session, which included the introduction of the working mechanisms used to deal with applicable arbitration cases, the quality of the services provided by the center in line with modern international arbitration standards and the importance of arbitration in enhancing the economic and investment stability in the country and ensuring a safe and typical investment environment.
The session touched on the nature of the relationship between arbitration and the territorial courts, since it is a homogeneous and complementary relationship that has produced numerous positive results in the interest of all the parties, both in terms of public interest and of institutions and individuals, or even in terms of improving the economic environment of the state.
The session addressed a wide range of specialized arbitration issues and topics, including best practices in the arbitration industry locally and internationally, the types of cases considered by arbitrators, the efficiency of the arbitration process, and the differences between the administrative process of cases considered by local courts versus arbitral institutions.
The session participants stressed that the option of going to arbitration centers instead of going to the courts has become a preferred option for many investors and large company owners due to the many benefits and easing provided to them by presenting a number of examples of disputes which have been resolved through arbitration as well as highlighting the role of arbitrators in arbitration and the degree of flexibility in dealing with arbitral rules and the scope of their powers to intervene in the procedures followed in arbitration in various cases and disputes.
Awad Mukhtar / Batoul Kashwani / Asim Al-Khouli
