Saudi Justice Minister showcases arbitration achievements at commercial conference

Saudi Justice Minister showcases arbitration achievements at commercial conference

Saudi Gazette reportRIYADH — Saudi Justice Minister Walid Al-Samaani lauded the Kingdom's advancements in arbitration at the Third Saudi Commercial Arbitration Conference on Wednesday.Expressing gratitude toward the Saudi leadership for bolstering the judiciary, Al-Samaani shed light on significant legislative and digital progress that has enhanced the arbitration landscape in Saudi Arabia.Praising the Kingdom's efficiency, Al-Samaani remarked, "Saudi Arabia stands among the world leaders in the swift enforcement of arbitral awards, facilitated by either the enforcement courts or through rescission claims at the appellate courts."He further clarified that arbitral awards in Saudi Arabia could only be contested through rescission claims at the appellate courts, which function as courts of law without delving into the factual aspects of cases.Highlighting the effectiveness of the Saudi legal system in arbitration matters, Al-Samaani disclosed that over the past three years, the appellate courts and panels have handled more than 4,000 rescission claims related to arbitral awards, affirming 90% of these awards.He also noted the significant monetary value associated with these awards, with foreign arbitral awards exceeding SR1.5 billion (around $400 million) and local awards enforced by the enforcement courts totaling SR3 billion (approximately $800 million). This underscores Saudi Arabia's commitment to upholding and enforcing arbitral