Minister of Justice and Minister of Commerce and Investment inaugurate Saudi Centre for Commercial Arbitration
Published Date: 17/04/2016
Their Excellencies the Minister of Justice Dr. Waleed Mohammed Al Samani, Minister of Commerce and Investment Dr. Majid Abdullah Al Qasabi, Minister of Health Dr. Tawfiq Fawzan Al Rabiah; Minister of Housing Mr. Majed Abdullah Al Hogail, and Vice President of the Board of Grievances, Ali Abdulrahman Alhammad, in the presence of a number of key deputy ministers, inaugurated the headquarters of the Saudi Center for Commercial Arbitration in the building of Council of Saudi Chambers of Commerce in Riyadh, which will be the first of its kind in the kingdom. This will be accompanied by a dedicated forum themed “Institutional Arbitration – Reality and Expectations” on Monday, 2 Muharram 1438 AH, corresponding to October 3, 2016 AD and includes a number of workshops and discussions.
For his part, the Chief Executive Officer of the Saudi Center for Commercial Arbitration Mr. Majid Al-Rasheed expressed his appreciation and pride to H.E. the Minister of Justice and H.E. the Minister of Trade and Investment to participate in the inauguration of the headquarters of the Center. He declared that the Center supervises arbitration proceedings in related commercial and civil disputes as well as representing the Kingdom in the field of arbitration, locally and internationally.
Mr. Al-Rasheed reported that the Center has completed and put in place the requisite ADR infrastructure, including the rules, procedures and standards related to its areas of competence, and finished the development of facilities and halls provided for the sessions according to the best international practices and standards. Further, all the center’s professional staff has completed extensive ADR training, including the Case Management of arbitration and mediation cases at the New York-based International Center for Dispute Resolution (ICDR). Mr. Al-Rasheed confirmed that arbitration and mediation are the preferred ways for investors and business people to settle disputes. The Center is also developing a predictable and attractive regulatory environment for foreign and local investment in Saudi Arabia, by proactively removing obstacles and difficulties related to the settlement of trade disputes between parties.
Mr. Al-Rasheed added that Saudi Centre for Commercial Arbitration provides a number of alternative dispute resolution services in both Arabic and English, including arbitration, mediation and related specialized training. He noted that the Center created a number of strategic and technical partnerships, in particular with the International Centre for Settlement of Disputes (ICDR) of the American Arbitration Association (AAA). They participated in drafting arbitration and mediation rules as well as standards of ethical conduct (for arbitrators, mediators, parties and employees). They also contributed to a number of workshops and training activities with the Center’s team to work in accordance with the public policy of the Kingdom of Saudi Arabia, and its ambitious Vision 2030.
Mr. Al-Rasheed confirmed that the Forum following the inauguration of the headquarters will be the first of its kind in terms of investigating key aspects of the profession of commercial arbitration in the Kingdom. Experts and participants will discuss the state of the arbitration industry domestically and internationally, available opportunities and potential challenges, comparing the practices related to the management of arbitration procedures in a timely and cost effective manner, the building of local capacities in the field of arbitration and raising the level of practice in this profession. It will also discuss the factors involved in gaining the confidence in and the support of the business sector for the arbitration industry.
Further, a Seminar will be held on the 3rd of Muharam 1438 (4th of October 2016) that will discuss the reality and the expectations for the enforcement of foreign and domestic arbitral awards in the Kingdom and will examine the best practices in this regard.
The Saudi Centre for Commercial Arbitration was established by Ministerial Cabinet Resolution No. (257) dated 06/14/1435 AH, (14th April 2014), and shall supervise the arbitration proceedings related to commercial and civil disputes that the parties agree on settling in the Center, as required by the rules in force and consistent with the civil and commercial judicial principles. Disputes involving personal status, administrative, criminal cases and issues in which conciliation is not legal, shall not be within the jurisdiction of the Center.
The Center’s formal launch marks the beginning of the SCCA’s outreach campaign to all key stakeholders: businesses, consumers, lawyers, arbitrators, mediators and other professionals. Mr. Alrasheed encourages all those interested in learning more to contact the center directly.