Latest news with #DubaiInternationalArbitrationCentre
Hi Dubai
13-03-2025
- Business
- Hi Dubai
Dubai's Arbitration Hub Ranked Among Global Leaders in GAR 100 Report
The Dubai International Arbitration Centre (DIAC) has secured notable positions in the prestigious GAR 100 Data Report, solidifying Dubai's role as a global arbitration hub. Published by the influential Global Arbitration Review (GAR), the report ranks Dubai as the fifth most popular arbitration seat worldwide by case volume, surpassing over 400 arbitration seats, including major cities like New York and Geneva. Additionally, Dubai ranks ninth globally in terms of the total value of arbitration cases, outperforming cities such as Seoul and Frankfurt. DIAC itself earned recognition as the tenth most active arbitration centre, based on the number of cases handled, and ninth for case value. This places DIAC ahead of more than 315 arbitration centres globally, reflecting the growing trust in Dubai's arbitration ecosystem. Notably, Dubai is the only arbitration seat and DIAC the only centre from the Middle East, Africa, and South Asia (MEASA) region included in the top 10 rankings. Jehad Kazim, Executive Director of DIAC, emphasized that these achievements align with Dubai's ambitions outlined in the Dubai Economic Agenda D33. He attributed the centre's success to the strategic oversight of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum and His Highness Sheikh Mohammed bin Rashid Al Maktoum, positioning DIAC among the world's top arbitration centres in the coming years. With over 5,000 cases handled, totaling more than AED 100 billion in value, DIAC continues to offer a robust legal framework for arbitration, attracting complex, high-value disputes. Recent reforms, including updated arbitration rules and an expanded board, ensure DIAC remains at the forefront of dispute resolution globally. News Source: Emirates News Agency
Emirates 24/7
12-03-2025
- Business
- Emirates 24/7
Dubai secures top rankings in GAR 100 Data Report on international arbitration
- Dubai is the only arbitration seat, and DIAC the only center from the Middle East, Africa, and South Asia in the global top 10 rankings - DIAC handles more than 5,000 cases with a total value exceeding AED100 billion in the past three decades Jehad Kazim: The high rankings achieved by both Dubai and DIAC reflect the international business community's confidence in the city as a leading arbitration hub The Dubai International Arbitration Centre (DIAC) announced that it has secured high rankings in the GAR 100 Data Report, published by Global Arbitration Review (GAR), the most widely read and influential publication in the field. The report ranks Dubai as the fifth most popular arbitration seat worldwide by case volume, surpassing more than 405 arbitration seats and cities, including New York and Geneva. It also places Dubai ninth in terms of the total value of arbitration cases conducted, outperforming more than 405 arbitration seats and cities, including Seoul and Frankfurt. DIAC itself was ranked as the tenth most active arbitration centre globally based on the number of cases handled and ninth in terms of case value, outperforming over 315 arbitration centres worldwide. According to the report, Dubai is the only arbitration seat, and DIAC the only arbitration centre from the Middle East, Africa, and South Asia (MEASA) region to be included in the global top 10 rankings. Jehad Kazim, Executive Director of DIAC, said that the high rankings achieved by both Dubai and DIAC reflect the international business community's confidence in the city as a leading arbitration hub, directly supporting the objectives of the Dubai Economic Agenda D33. Kazim added that DIAC operates under a carefully structured work plan overseen by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance of the UAE. The plan aligns with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to position DIAC among the world's top five arbitration centres in the coming years. Over the past three decades, DIAC has handled more than 5,000 cases with a total value exceeding AED100 billion, said Kazim. The centre provides a robust legal framework and reliable enforcement mechanisms for arbitration awards, attracting a diverse range of complex, high-value disputes. Since 2022, DIAC has further enhanced its services by introducing updated arbitration rules, reforming its arbitration court, and expanding its board of directors. Committed to efficient and impartial dispute resolution, DIAC ensures fair outcomes for all parties. The GAR 100 Data Report is a comprehensive analysis derived from GAR's annual GAR 100 guide, which identifies the world's leading law firms with arbitration practices. Covering more than 11,200 arbitration cases from 2015 to 2023, the report provides key insights into case volumes, institutional performance, and user preferences in arbitration. Follow Emirates 24|7 on Google News.
Gulf Business
21-02-2025
- Business
- Gulf Business
How DIAC is transforming arbitration with digital solutions
Image: Supplied In a strategic move to modernise dispute resolution, the Dubai International Arbitration Centre (DIAC) has teamed up with Opus 2 to introduce advanced digital tools into the arbitration process. This partnership aims to streamline operations, enhance security, and offer faster, more efficient services. From e-filing to virtual hearings, the collaboration promises to reshape how disputes are handled in the region, making arbitration more accessible, cost-effective, and future-ready. In this interview, Jehad Kazim, executive director of DIAC, shares how these innovations will transform the dispute resolution landscape and support businesses, including SMEs, in navigating legal challenges, and her role as a female leader. As the first Emirati woman to lead DIAC, how do you see your role in shaping the future of dispute resolution in the region? I want to keep strengthening the role of DIAC as a forward-thinking, innovative, and inclusive institution. One of my key priorities is to foster collaboration between institutions, governments, and businesses to enhance the region's dispute resolution framework. Strengthening partnerships across borders and sectors can create more robust, efficient, and cost-effective mechanisms that reflect the region's diverse legal, cultural, and economic dynamics. Furthermore, I am committed to integrating technological advancements into the dispute resolution process. DIAC will continue to innovate by embracing digital platforms for case management and virtual hearings ensuring that arbitration and mediation remain relevant and accessible to all. Another area of focus is diversity and inclusion. I strongly believe that having diverse perspectives in the dispute-resolution process is key to its success. By embracing diversity in all its forms, we ensure that arbitration remains relevant, resilient, and responsive to the needs of all parties involved. Through collaboration, innovation, and a commitment to diversity, I am excited to contribute to the dispute resolution landscape that can meet the evolving needs of businesses, governments, and individuals in the region and beyond. DIAC recently partnered with Opus 2 to introduce digital solutions in arbitration. How will this improve the dispute resolution process? The partnership between DIAC and Opus 2 is a strategic leap into the future of arbitration. By integrating Opus 2's advanced legal technology, we're creating a digital ecosystem that redefines efficiency, accessibility, and security in dispute resolution. At its core, this collaboration introduces a state-of-the-art platform that centralises key functions like e-filing, case registration, and document submission. This eliminates administrative bottlenecks, reduces delays, and ensures seamless collaboration between parties, arbitrators, and the DIAC Secretariat. The platform is designed with scalability and cybersecurity in mind, ensuring it can handle growing caseloads while safeguarding sensitive data. DIAC users will also get access to Opus 2's broader tech suite to support virtual hearings, shared electronic bundles, real-time transcription, and electronic presentation of evidence. By embracing technology, DIAC is positioning itself as a global leader in dispute resolution, offering a modern, efficient, and secure experience that meets the needs of today's businesses and anticipates the demands of tomorrow. What are some of the most common disputes handled by DIAC, and how do you ensure quick and efficient resolutions? DIAC handles a wide range of disputes across key sectors such as construction, real estate, energy, finance, and technology. These industries are the backbone of the MEASA region's economy, and the disputes they generate often involve complex and high-value claims. When it comes to contract types, construction contracts are the most common, accounting for 40 per cent of cases in 2023. Real estate and property contracts follow closely, with disputes typically arising from lease agreements, property sales, or development projects. Other frequent contract types include service and provider agreements, sales and purchase agreements, and partnership and ownership contracts. To provide parties with quick and efficient solutions, the 2022 DIAC Arbitration Rules introduced expedited proceedings to allow parties to resolve disputes faster and at a lower cost, which is particularly beneficial for small-value or straightforward cases. Our panel of arbitrators includes experts with deep industry knowledge, ensuring that disputes are resolved by professionals who understand the nuances of each sector and contract type. How does DIAC support businesses, particularly SMEs, in resolving disputes effectively? SMEs are vital to the regional economy, but they often face unique challenges when it comes to dispute resolution. Limited financial and legal resources can make traditional arbitration daunting. Our panel of arbitrators includes professionals with expertise in industries relevant to SMEs, ensuring that disputes are resolved by individuals who understand their commercial realities. The newly introduced virtual hearings and under-development digital tools reduce logistical burdens and costs, making arbitration more accessible for SMEs with limited resources. Additionally, mediation offers a collaborative and cost-effective alternative, helping parties reach amicable settlements without the animosity and time delays of traditional legal proceedings. By providing reliable and efficient dispute resolution services, we ensure that SMEs can navigate disputes effectively while focusing on their core business activities. With the rise of AI and digital case management, how do you see technology shaping the future of arbitration? The potential of AI and digital case management to transform arbitration is immense. DIAC is actively exploring how these technologies can enhance the dispute resolution process; we are closely monitoring its development and considering how it can be applied to improve efficiency, transparency, and accessibility. AI has the potential to automate routine tasks, freeing up time for arbitrators and legal teams to focus on more complex aspects of a case. Predictive analytics could also provide insights into case trends, helping parties make more informed decisions. Digital case management platforms, like the one we're developing with Opus 2, are already streamlining processes by centralising filings, submissions, and communications. These tools reduce delays and ensure all parties have real-time access to case updates, fostering greater transparency and trust. Looking ahead, we see virtual hearings becoming even more sophisticated, making arbitration more accessible to parties across the globe. Blockchain technology could further enhance security, transparency and automation. While still in the early stages of adoption, blockchain can revolutionise arbitration. What challenges do businesses typically face in arbitration, and what advice would you give to those unfamiliar with the process? Businesses often face challenges in arbitration due to unclear dispute resolution clauses, unfamiliarity with procedural rules, and concerns about costs and delays. To navigate these challenges effectively, taking a proactive and strategic approach is essential. Start by drafting clear and comprehensive arbitration clauses in contracts. Specify the arbitral institution (for example, DIAC), the arbitration rules governing the proceedings, the number of arbitrators, the seat of arbitration, the language of the arbitration and the governing law of contract to avoid procedural uncertainties. Leverage institutional support. DIAC's structured By taking these steps, businesses can minimise risks, reduce costs, and ensure a smoother dispute resolution process, ultimately protecting their commercial interests.
