Mohammed Bin Rashid issues decree to merge Emirates Maritime Arbitration Centre and DIFC Arbitration Institute into DIAC

Mohammed Bin Rashid issues decree to merge Emirates Maritime Arbitration Centre and DIFC Arbitration Institute into DIAC

In his capacity as the Ruler of Dubai, Vice President and Prime Minister of the UAE His Highness Sheikh Mohammed Bin Rashid Al Maktoum has issued Decree No. (34) of 2021 on the Dubai International Arbitration Centre (DIAC).

The Decree dissolves the Emirates Maritime Arbitration Centre and the Dubai International Financial Centre Arbitration Institute and merges their operations and assets into the Dubai International Arbitration Centre (DIAC), an autonomous non-profit institution that provides regional and international business communities with world-class arbitration services. 

The new Decree supports Dubai’s efforts to enhance the efficiency of its alternative dispute resolution sector and reinforce its growing status as a global arbitration hub. Pursuant to the Decree, the ownership of real estate, assets, funds, staff, financial allocations and membership base of the two dissolved arbitration centres will be transferred to the Dubai International Arbitration Centre. Dubai Courts and DIFC Courts will continue to hear claims, applications and appeals related to any arbitration proceedings conducted in tribunals of the dissolved arbitration centres.