The launch of «Mediation and Arbitration Center» for the Union of Arab Banks .. Trabhi: The importance of being the first reliable and specialized

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The launch of «Mediation and Arbitration Center» for the Union of Arab Banks .. Trabhi: The importance of being the first reliable and specialized


13/03/2019






The Union of Arab Banks announced the activation and launch of the "Mediation and Arbitration Center" at the Union, whose regulations were amended and approved by the Union's Board of Directors (20 Arab countries) at its 106th meeting held in Beirut on 14/11/2018. »Accredited internationally. 
President of the Association of Banks in Lebanon and Chairman of the Executive Committee of the Union of Arab Banks Joseph Tarbi, Chairman of the Arab Arbitration Commission and member of the Supreme Arbitration Council of the Mediation and Arbitration Center Abdulhamid Al-Ahdab, Chairman of the Supreme Judicial Council Lebanon, member of the Higher Arbitration Council of the Mediation and Arbitration Center, Judge Ghaleb Ghanem, Press Syndicate President Awni Al-Kaaki, Secretary-General of the Union of Arab Banks, Wissam Fattouh.
After his welcoming speech, Tarbih spoke about the Center for Mediation and Arbitration, saying: "The center is the first and most trusted institution to provide alternative means of resolving banking disputes. It seeks to resolve all local and international disputes in a distinguished and expeditious manner, Through a distinguished elite of the largest Arab and European arbitrators, whose number has so far reached 38 internationally accredited arbitrators. The Center's system also noted the possibility of using arbitrators from outside its approved list for arbitration between the parties after the approval of the Supreme Council of Arbitration, The mediation and arbitration procedures in front of this center are less expensive and cost-effective.
The mediation and arbitration center of the Union of Arab Banks is launched by its advanced system, which is the most prestigious and most efficient system, and its general secretariat and management, who are determined to have a distinguished position among the Arab arbitral institutions, and the great capacities that are stored or derived from either the Union of Arab Banks itself or from the constellation of arbitrators Who have so far registered on its regulations or from its various bodies, including the Supreme Council of Arbitration, has ... 
that it receives requests for mediation and arbitration, whether between banks alone or between them and others, but all other applications whose owners wish to resolve their disputes In the end, resorting to it eliminates an idea that has long prevailed: foreign arbitrators sometimes tended to slander Arab rights, especially in investment contracts and big concessions.
Al-Ahdab made a speech in which he said: The huge investments need arbitration because it guarantees a set of freedoms from the choice of judge, to the country of arbitration and arbitration law chosen by the opponents. Arbitration at the international level has become the basis, while the judiciary is the branch. Therefore, it was necessary to have an arbitration council at the level of Arab banks to meet the urgent need, because banking arbitration needs law professionals specialized in banking laws.