Prince Bandar Bin Salman praises the services of the Saudi Center for Commercial Arbitration

Published Date: 19/02/2017

HRH Prince Bandar Bin Salman, Advisor to the Custodian of the Two Holy Mosques, Chairman of the Saudi Arbitration Team and Honorary Chairman of the GCC Commercial Arbitration Center and Dr. Fahd Bin Ahmed Abu  Hemayd, deputy minister of Commerce and Investment for rules and regulations visited the headquarters of the Saudi Center for Commercial Arbitration in order to see the services provided by SCCA in the commercial arbitration field and discuss ways of arbitration development in the Kingdom.

On their arrival, they were received by Mr. Fahd Al-Qassim, the SCCA Chairman of Board of Director and Mr. Majid Al-Rasheed, the SCCA's CEO, where HRH and deputy minster made a tour to see the SCCA's facilities. They saw the high-quality furnishings, including the arbitration and mediation rooms equipped with modern technical means in order to settle disputes such as interpretation platform, video-conferencing cameras and other modern equipment.

They listened to a detailed explanation presented by Mr. Majid Al-Rasheed, the CEO, about the SCCA and its services in the field of arbitration, mediation and training as the SCCA represents the Kingdom in the relevant regional and international forums.  Mr. Majid indicated the high quality furnishings and international standards through which the SCCA can provide its various services, including the rapid and cheap dispute settlement through arbitration and mediation conducted by neutral arbitrators and mediators instead of referring such disputes to court whether inside the Kingdom or abroad. He also indicated the training services as the SCCA holds training courses on alternative dispute resolutions and the bodies that benefit from arbitration, mediation and training services provided to practitioners, arbitrators, lawyers and mediators, whether locally or internationally.

HRH Prince Dr. Bandar Bin Salman and Dr. Fahad Abu Humaid, praised the Saudi Center For Commercial Arbitration, its significant services and modern furnishings, which will, in turn, enable and activate the commercial arbitration in the Kingdom to be a preferred option in the alternative commercial dispute resolutions. They affirmed that this matter is in line with the Saudi Vision 2030, which aims to increase foreign investment through developing and preparing an investment atmosphere by regulations and laws encouraging local and foreign investors.