Abu Dhabi to introduce economic courts

Abu Dhabi is to open specialised courts to deal with economic and industrial disputes in a move intended to enable the emirate’s legal system to keep pace with developments in business, the Department of Judiciary said Sunday.

The new courts will try cases related to contracting and construction, banking and financial institutions, and investment and industrial disputes, reported state news agency Wam.

The move comes as part of the development strategy of the emirate, which has witnessed massive economic growth in recent years.

“Security and stability are considered among the prime factors which attract investment. Thus they constitute the foundation of any economic development," said Sultan Saeed Al-Baadi, undersecretary of the Department of Judiciary.

"During the past years, the emirate has witnessed substantial growth in the economic life. This has made the new specialised economic courts imperative to resolve cases pertaining to financial, investment and industrial disputes.”

The jurisdiction of each court has yet to be specified, the department said, adding it was working to estimate financial and administrative requirements.

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