– Dubai is the one arbitration seat, and DIAC the one heart from the Center East, Africa, and South Asia within the world high 10 rankings
– DIAC handles greater than 5,000 circumstances with a complete worth exceeding AED100 billion prior to now three a long time
Jehad Kazim: The excessive rankings achieved by each Dubai and DIAC replicate the worldwide enterprise neighborhood’s confidence within the metropolis as a number one arbitration hub
The Dubai Worldwide Arbitration Centre (DIAC) introduced that it has secured excessive rankings within the GAR 100 Information Report, revealed by International Arbitration Evaluate (GAR), essentially the most extensively learn and influential publication within the subject.
The report ranks Dubai because the fifth hottest arbitration seat worldwide by case quantity, surpassing greater than 405 arbitration seats and cities, together with New York and Geneva. It additionally locations Dubai ninth by way of the entire worth of arbitration circumstances performed, outperforming greater than 405 arbitration seats and cities, together with Seoul and Frankfurt.
DIAC itself was ranked because the tenth most lively arbitration centre globally primarily based on the variety of circumstances dealt with and ninth by way of case worth, outperforming over 315 arbitration centres worldwide.
In keeping with the report, Dubai is the one arbitration seat, and DIAC the one arbitration centre from the Center East, Africa, and South Asia (MEASA) area to be included within the world high 10 rankings.
Jehad Kazim, Govt Director of DIAC, mentioned that the excessive rankings achieved by each Dubai and DIAC replicate the worldwide enterprise neighborhood’s confidence within the metropolis as a number one arbitration hub, immediately supporting the aims of the Dubai Financial Agenda D33.
Kazim added that DIAC operates below a fastidiously 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 imaginative and prescient of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to place DIAC among the many world’s high 5 arbitration centres within the coming years.
Over the previous three a long time, DIAC has dealt with greater than 5,000 circumstances with a complete worth exceeding AED100 billion, mentioned Kazim. The centre supplies a strong authorized framework and dependable enforcement mechanisms for arbitration awards, attracting a various vary of advanced, high-value disputes.
Since 2022, DIAC has additional enhanced its companies by introducing up to date arbitration guidelines, reforming its arbitration court docket, and increasing its board of administrators. Dedicated to environment friendly and neutral dispute decision, DIAC ensures honest outcomes for all events.
The GAR 100 Information Report is a complete evaluation derived from GAR’s annual GAR 100 information, which identifies the world’s main legislation corporations with arbitration practices. Overlaying greater than 11,200 arbitration circumstances from 2015 to 2023, the report supplies key insights into case volumes, institutional efficiency, and person preferences in arbitration.
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