27/09/2021
The National Committee of Saudi Arbitration Centers issues its decision licensing the Asharqia Chamber Arbitration Center
The Permanent National Committee of Saudi Arbitration Centers issued its decision to license the Asharqia Chamber Arbitration Center, in the context of promoting a culture of institutional arbitration following the highest international standards and providing an arbitration environment outside the scope of the public judiciary that is stimulating and attractive to capital.
The head of the Asharqia Chamber, Abdul Hakim bin Hamad Al-Ammar Al-Khalidi, said that the expansion in general in the issuance of licenses for arbitration centers supports the aspirations of the Kingdom’s vision 2030 by consolidating the values of governance and transparency and contributes to increasing the Kingdom’s attractiveness to investors, pointing out that it represents a fundamental pillar in supporting the business sector and one of the important paths to decide and adjudicate commercial disputes, which eases the burdens on the public judiciary.
Al-Khalidi went on to say that the Chamber’s endeavor to establish an arbitration center comes within its mission to support and develop the economic and development work of the business sector and within the framework of its comprehensive strategy by providing integrated services to the business community in the field of dispute resolution and settlement and comes as a culmination of the Chamber’s efforts in the field of arbitration since the launch of arbitration in the Kingdom. That the center will work to create the appropriate atmosphere for institutional arbitration in the eastern region by providing an attractive justice platform characterized by the speed in the completion and settlement of disputes.
Al-Khalidi stressed that the center was established to be the first choice for companies and institutions based in the eastern region, and a group of experienced and competent people in the fields of arbitration, conciliation, and dispute resolution will be based on it, and that it will work to spread the culture of arbitration and conciliation among the business community through seminars. It also provides several advisory services related to how to write arbitration and conciliation agreements or provide support services to select the best elements to carry out the task of arbitration and conciliation and publish research and studies in Publications of the Chamber on topics related to arbitration and conciliation.
