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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Commercial Arbitration Center in 2019

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KABEER YOUSUF -


MUSCAT, Nov 26 -


The work on establishing the Commercial Arbitration Center is progressing fast and it will be operational next year, according to participants at the Second Conference of the Omani Business Law Forum held on Monday.


The establishment of the centre in accordance with the Royal Decree No. 26/2018 was accelerated by a founding committee under the chairmanship of Dr Abdullah bin Mohammed al Saidi, Minister of Legal Affairs.


“The importance of the Commercial Arbitration Center in the Sultanate lies in the need for alternative ways to resolve commercial disputes rather than through judiciary, which comes in the forefront of arbitration,” said Qais bin Mohammed al Yousuf, Chairman of the Chamber of Commerce and Industry of Oman.


Commercial arbitration centres help resolve disputes through specially appointed arbitrators by the parties in dispute rather than through courts.


The meet was organised by LexisNexis, a specialised legal research and publication company, in cooperation with Omani Lawyers’ Association and British Omani Lawyers’ Association.


Dr Mohammed bin Ibrahim al Zadjali, Chairman of the Omani Lawyers’ Association, in his speech, said: “Omani Lawyers’ Association takes pride in participating in the conference at a time when legal solutions become so important in our day-to-day life.” Paul Sheridan, Chairman, British Omani Lawyers’ Association, said the conference contributes to the exchange of views on the latest developments in business law in the Sultanate and enriches the experiences of participants in the new legislations.


Jamie Gibson, partner manager at the office of Trowers & Hamlins Law Firm in the Sultanate, presented the first working paper in which he spoke about foreign investment in the country.


Cheryl Cairns, from the same Law Firm, presented the second working paper entitled ‘Arbitration and Dispute Resolution’.


“Arbitration is one of the most important alternative ways of resolving disputes rather than the judiciary in terms of speed. Moreover, arbitration is less expensive,” she said.


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