© Koninklijke Brill NV, Leiden, 2011 DOI: 10.1163/157302511X551455 Arab Law Quarterly 25 (2011) 221-228 brill.nl/alq Arab Law Quarterly Jurisdiction over Banking Disputes in Saudi Arabia Zuhair S. Al-Herbish * Legal Counsel, Riyadh, Saudi Arabia Abstract The establishment of the Committee for the Settlement of Banking Disputes (CSBD) was a milestone in the development of the Saudi Arabian banking system. Its mere existence as a dispute settlement forum for eligible claims has provided the Kingdom’s commercial banks with a signiﬁcant measure of assurance that their valuable services to the Kingdom’s economy will not be derailed through lengthy litigation by non-specialized entities. In the opinion of the author, however, the role of the CSBD can be signiﬁcantly enhanced and reinforced by the implementation of two measures: restructuring the CSBD so that it has two levels; and establishing various ‘ﬁrst instance’ committees of the CSBD in the King- dom’s major commercial hubs in the interest of speedy settlement of eligible disputes. Keywords jurisdiction; banking dispute; Committee for the Settlement of Banking Disputes (CSBD); Saudi Arabia 1. Introduction The role of commercial banks in developing and developed countries alike cannot be over-emphasized. Commercial banks are, indeed, the pillars of any economy; acting
Arab Law Quarterly – Brill
Published: Jan 1, 2011
Keywords: banking dispute; Committee for the Settlement of Banking Disputes (CSBD); jurisdiction; Saudi Arabia
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