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The Union of Arab Banks launches a center for banking and commercial arbitration DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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The Union of Arab Banks launches a center for banking and commercial arbitration Empty The Union of Arab Banks launches a center for banking and commercial arbitration

Post by claud39 on Mon Sep 23, 2019 7:40 am

The Union of Arab Banks launches a center for banking and commercial arbitration




23/09/2019





The Union of Arab Banks launches a center for banking and commercial arbitration Rc_156921894176_23



The Union of Arab Banks has launched a center for mediation and arbitration in dealing with important legal issues that are closely related to commercial and banking investment. Be a framework and guide for solving problems and disputes. He pointed out that the Union seeks to provide an opportunity to see the importance of the Center for Mediation and Arbitration in dealing with important legal issues closely related to investment banking and commercial, and financing contracts for companies, individuals and financial institutions, and the characteristic of these relations of a banking and financial nature of some complexity in terms of inability Interlocutors in complex banking transactions.

He pointed out that the Center is the first reliable and specialized in providing alternative means of resolving banking disputes, and works to settle all local and international banking disputes within a framework of speed and effectiveness, and provide justice among the litigants, through a distinguished elite of Arab and European arbitrators, who exceeded the number of 100, The Center's system allows the use of arbitrators outside the approved list to arbitrate between the parties after the approval of the Supreme Council of Arbitration, in addition to the mediation and arbitration procedures are less expensive and less time in resolving disputes.

Wissam Hassan Fattouh, Secretary-General of the Union of Arab Banks, said that the world is witnessing a tremendous development of the arbitration system in investment, commercial and banking cases in all the countries of the world as an alternative judicial system to settle commercial, civil and economic disputes, and the increasing resort to mediation and arbitration centers to resolve disputes at the local and regional levels. Arbitration in recent years has become a distinct way to resolve disputes through the resort to justice, and accepted by the majority of banking, commercial and investment institutions because of its positive advantages.

He explained that the Union of Banks touched the losses incurred by banks, either because of the slow issuance of judicial decisions in some countries, or because of the troubled situation of these countries reflected negatively on the functioning of banking, commercial and investment, as conflicts remain pending before the judiciary for long periods of time He pointed out that the mediation and arbitration center of the Union of Arab Banks, opened its doors today to be a mediator and governance among banks, to save them a lot of time and money, and to provide them with a reliable and specialized arbitration platform to Priority all banking disputes, and we have every confidence in the Arab Arbitrators mediation and arbitration accredited internationally who will believe justice and the realization of the right.

He said that the culture of arbitration has become an important method for countries seeking to increase economic growth and attract capital, especially as it has become the best means of resolving disputes, if there are factors of speed, confidence and knowledge, pointing out that the conference aims to strengthen the Arab banking dialogue and open channels to discuss banking legislation And the role of legal affairs departments in banks to protect the rights and interests of banks and financial institutions in the face of these international legislations. It is very important to compare the Arab banking situation to discuss and monitor the points of intersection and difference between Arab banking systems and legislations.






http://www.uabonline.org/en/news/arabicnews/15751578158115751583157516041605158915751585160115/67987/0
claud39
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The Union of Arab Banks launches a center for banking and commercial arbitration Empty Arab Center for Dispute Resolution and Banking Settlement

Post by claud39 on Mon Sep 23, 2019 7:42 am

Arab Center for Dispute Resolution and Banking Settlement


23/09/2019





The Union of Arab Banks launches a center for banking and commercial arbitration Rc_156922043685_23





The Union of Arab Banks has established an international center for mediation and arbitration to receive applications and files for arbitration in cases of disputes and bank settlements Arab and international, and includes 31 international arbitrators accredited.

He told Al-Eqtisadiah, Wissam Hassan Fattouh, Secretary-General of the Union of Arab Banks, that the Center for Mediation and Arbitration has been officially activated and is now ready to resolve any disputes or settlements between Arab banks as well as foreign banks, and we are working to become reliable in resolving banking disputes.

He noted that the Statute of the Center had been approved, which included in its articles all the UNCITRAL international arbitration procedures and rules, and provided a solid list of internationally accredited senior arbitrators, which had so far included 31 international arbitrators.

He added, `` The Center's system can use arbitrators outside the approved list to arbitrate between the parties, provided that the approval of the Supreme Council of Arbitration, in addition to the mediation and arbitration procedures before this center are less expensive and deliberate prices '', stressing that the Center is now ready to receive arbitration applications.

Fattouh explained that the center will reduce the costs incurred by Arab banks when submitting files or cases to settle with other banks in international arbitration centers outside the Arab region, noting that the center will work to settle all local and international disputes effectively, following the method of neutrality and justice among the litigants.

He stressed that the Center adopts confidentiality in everything that goes on during its arbitration sessions, and the guarantee is that its Supreme Council enjoys full neutrality towards banks, financial institutions or individuals, which gives the Center more credibility, and the procedures of mediation and arbitration before the Center were simplified in order to enable all banks Financial institutions or individuals can resort to it and make use of its services easily and without any complications.

Fattouh said that the services of the Center for Mediation and Arbitration will be provided to banks and financial institutions, members and non-members of the Union, and the community of business, investment, and the Arab, regional and international economy, through resolving and settling banking and commercial disputes, in addition to spreading the culture of mediation and arbitration between banks, institutions and commercial companies. And investment at the local, regional and international level.

He pointed out that the Center is also concerned with holding conferences, seminars, seminars and training to spread the culture of mediation and arbitration, and to provide legal advice and services in the fields of mediation and arbitration, pointing out that the Center - by its competence - will organize during this September a special conference on mediation and arbitration, held at the headquarters The League of Arab States, to publicize its policy, objectives and tasks.







http://www.uabonline.org/en/news/arabicnews/16051585160315861593158515761610160416041576157816/68014/0
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