Maritime industry wants Dubai arbitration centre

A maritime arbitration centre may soon be created in Dubai, based on a recommendation being prepared by a think tank, which has emphasized the need for such because of the increasing maritime trade in the region.

Dr. Ibrahim Hassan Al Mulla, founder and general manager of the Emirates International Law Centre (EILC) said his company is recommending an administered arbitration, as against an ad hoc, system that is compliant to Islamic rules. "Our idea is to revive the Islamic arbitration, which covers a wide range of topics," he added, stressing that maritime arbitration systems worldwide mostly cover only the amicable settlement of commercial disputes. But the Islamic maritime arbitration system, he said, covers a wide range of related disputes, such as political, criminal, personal, civil and trade relations. "This is a very old system, but will still be very effective in settling various disputes," Al Mulla said. An ad hoc arbitration requires parties to make their own arrangements for the selection of arbitrators and the designation of rules and procedures while an administered arbitration has an independent agency to manage dispute resolutions. Al Mulla said that having a maritime arbitration centre would boost regional and international trade through Dubai, as this provides the business operations security that foreign investors are looking for. He also said that maritime trade accounts for 75 per cent of the world's total trade. EILC has organized the three-day Maritime Arbitration Conference, which ended yestersay in Dubai and has attracted experts and industry players from across the region, Asia and Europe. Dubai is part of an international arbitration jurisdiction involving at least 150 other nations.

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