Mohammed bin Rashid approves formation of Dubai International Arbitration Centre

Mohammed bin Rashid approves formation of Dubai International Arbitration Centre

DUBAI, 7th November 2021 (WAM) - His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, approved a decree on Sunday forming the Board of Directors of the Dubai International Arbitration Centre (DIAC), directing them to establish Dubai as a leading global centre for alternative dispute resolution as per the highest standards of efficiency and transparency.

Under the Decree, the Board will be chaired by Dr. Tarik Humaid Al Tayer, and Dr. Ahmed Saeed Al Suwaidi will be the Vice Chairman.

Other members of the Board include Ahmed Saeed Belyouha, Ahmed Mohammed Al Rasheed, Jehad Abdulrazzaq Kazim, Abdulaziz Mohammed Al Marri, and Graham Kenneth Lovett.

Sheikh Mohammed directed the newly formed Board to develop the Centre into one of the world’s top five arbitration centres in the next three years, and ensure it maintains the highest standards of efficiency and transparency.

H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, said the Decree will contribute to further enhancing Dubai’s growth-friendly environment and competitiveness.

"Dubai is seeking to further improve its business and investment environment and raise its attractiveness as part of the effort