In light of the Dubai Government’s allowing businesses to use the English language Dubai International Financial Centre (DIFC) Courts for resolving local and international business disputes, the Dubai Chamber of Commerce and Industry, organised a CEO roundtable on the current trends in the Emirate’s legal system, at its premises on Tuesday.
Organised under the title, The Dubai Legal System – New Avenues to Resolve Business Disputes, the seminar panel included Dr. Ahmed bin Hazeem, Director General, Dubai Courts and Dr. Michael Hwang, Chief Justice of Dubai International Financial Centre Courts, and Nassib G. Ziadé, Director, Dubai International Arbitration Centre (DIAC), who shed light on the trends, opportunities and economic highlights of the Emirate’s legal system.
The seminar, which was presided over by H.E. Hisham Al Shirawi, 2nd Vice-Chairman, Dubai Chamber, and moderated by Mark Beer, Registrar of DIFC Courts, was attended by senior management including directors and CEOs from Dubai Chamber member companies as well as representatives of various business groups and business councils operating under the umbrella of the Chamber.
In his welcome address, H.E. Al Shirawi said that the landmark decision by H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai, reflects the Emirate’s efforts in providing a world-class and diverse legal environment to all its investors and business people alike.
“This new decree opens the jurisdiction for commercial cases to be heard at the DIFC Courts. The introduction of the common law system which follows the English language is welcomed by the international business community who can expect clarity and transparency,” said H.E. Al Shirawi.
He added, “The availability of this community-focused approach to an efficient and fair justice system will go a long way in restoring confidence in the investors while also making Dubai an attractive and viable business destination for global businesses,” he said.
H.E. Al Shirawi further stressed that as a regional and global business hub, Dubai has been offering world-class facilities supported by a business-friendly environment and a well-equipped legal system to its multicultural business community. This decision further reflects Dubai’s commitment to supporting investors and businesses both domestically and from around the world, he added.
Dr. Ahmed bin Hazeem, Director General, Dubai Courts, highlighted the Court’s commitment to justice and the rule of law, which he said is at the heart of Dubai’s strategy to serve the business community in line with best international standards.
He further stated that Dubai’s legal system not only contributes to providing stability necessary for the development of trade but also helps in attracting global investors to the Emirate’s safe business environment.
On his part, Dr. Michael Hwang, Chief Justice of Dubai International Financial Centre Courts, said that the expansion of
the DIFC Courts’ jurisdiction is a real boost for the business community as this ruling allows us to work hand in hand with Dubai Courts to support the Emirate’s competitive business environment.
Dr. Hwang also added that the Courts can now offer a wider choice of options to avail world-class judicial system and judiciary to internal as well as external parties including local, regional and global businesses.
Nassib G. Ziadé, Director, Dubai International Arbitration Centre, informed that the roundtable is a timely event taking place at Dubai Chamber which is at the heart of businesses in the Emirate and hosts the Dubai International Arbitration Centre.
All providers of dispute-resolution mechanisms in Dubai complement each other and offer a wide selection of services to the business community while promoting Dubai as a business hub for the whole region and beyond, he said.