Font Size

- Aa +

Wed 17 Oct 2018 03:35 PM

Font Size

- Aa +

Abu Dhabi's financial hub launches arbitration centre

Abu Dhabi Global Market says the ADGM Arbitration Centre has officially started full operations

Abu Dhabi's financial hub launches arbitration centre
Ahmed Al Sayegh, chairman of ADGM.

Abu Dhabi Global Market (ADGM), the international financial centre in the UAE capital, on Wednesday announced that its arbitration hearing facility, the ADGM Arbitration Centre, has officially started full operations.

The ADGM Arbitration Centre aims to enhance the arbitration infrastructure and landscape in MENA with its service offering and facilities, raising the standards of dispute resolution and business confidence in the region.

The centre caters to the ongoing strong demand for arbitration as parties’ preferred form of dispute resolution for their commercial or civil disputes, state news agency WAM reported.

Anchored in the financial free zone of Abu Dhabi, the ADGM Arbitration Centre offers facilities for local and global parties to resolve their disputes through arbitration or mediation without geographic constraints, it added.

Ahmed Al Sayegh, chairman of ADGM, said: "The ADGM Arbitration Centre strengthens Abu Dhabi’s position on the global map as a strategic centre for arbitration services that appeal to businesses and individuals from around the world. The centre’s offering is set to further advance the UAE’s dispute resolution landscape, foster new business opportunities, and boost investment opportunities in the capital."

Linda Fitz-Alan, CEO of ADGM Courts, added: "We are very pleased to open the Arbitration Centre, which once again reinforces ADGM’s role as a first mover in the region and places Abu Dhabi alongside the world’s existing major centres for arbitration.

"As an independent jurisdiction with its own civil and commercial laws, independent courts and with many of the world’s leading law firms present, ADGM is in a very strong position to support the requirements of users even more broadly with the addition of these arbitration and mediation facilities."

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.