Dubai is seeking to become a leading global centre for alternative dispute resolution.
This comes as His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, approved a decree on Sunday forming the Board of Directors of the Dubai International Arbitration Centre.
The Centre is targeting the resolution of disputes for businesses both locally and internationally.
Sheikh Mohammed directed the newly formed Board to develop the Centre into one of the world’s top five arbitration bodies in the next three years, and ensure it maintains the highest standards of efficiency and transparency.
Under the decree, the Board will be chaired by Dr. Tarik Humaid Al Tayer, and Dr. Ahmed Saeed Al Suwaidi will be the Vice Chairman.
Other members of the Board include Ahmed Saeed Belyouha, Ahmed Mohammed Al Rasheed, Jehad Abdulrazzaq Kazim, Abdulaziz Mohammed Al Marri, and Graham Kenneth Lovett.
Launched in 2004, DIAC is the largest arbitration centre in the Middle East, and since 2007, the Centre has handled 2,500 cases.
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