The UAE ’s Pilgrimage to International Arbitration Stardom

The UAE ’s Pilgrimage to International Arbitration Stardom The last two decades have witnessed a growing interest and participation of the Gulf Cooperation Council ( GCC ) states in international arbitration as they have also joined the New York Convention and the Washington Convention. Still, scepticisms abound as to the efficacy of international arbitration in the GCC states. However, Dubai is considered to have the potential of being a Middle East business hub as it is modernising its arbitration law and practice in light of international developments. Forward thinking and innovative pro-arbitration institutions like the Dubai International Arbitration Centre ( DIAC ) - the leading arbitration centre in the UAE ; the Dubai International Financial Centre ( DIFC ) - a common law free zone within Dubai with its own sets of laws, including the DIFC Arbitration Law, and its own court system ( DIFC Courts) both of which are separate from Dubai and UAE laws and judicial systems; and the DIFC - LCIA Arbitration Centre, have turned Dubai into a growing propitious arbitration hub (i.e. a pro-arbitration and pro-enforcement jurisdiction) in the Middle East. While doubts continue to be raised with regard to the role and influence of the Shari’a on the arbitration process and on the enforceability of arbitral awards in Dubai, an examination of recent developments and trends in the arbitration rules and case law in Dubai reveals a promising environment for international arbitration, except for a few cases that followed formalistic grounds for denying enforcement. Recent cases from the UAE , and especially from Dubai, reveal a new attitude pervading the UAE judiciary that is more welcoming of the New York Convention and that is less likely to interfere with the merits of an arbitral award. However, the new UAE Draft Federal Arbitration Law is yet to be enacted. The article provides a critical appraisal of the recent legislative and institutional developments and international arbitral practice in the UAE and assesses Dubai’s prospect to be a Middle East business hub. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of World Investment and Trade Brill

The UAE ’s Pilgrimage to International Arbitration Stardom

Loading next page...
 
/lp/brill/the-uae-s-pilgrimage-to-international-arbitration-stardom-STg0Rh2tjw
Publisher
Brill
Copyright
© 2014 by Koninklijke Brill NV, Leiden, The Netherlands
Subject
Articles
ISSN
1660-7112
eISSN
2211-9000
DOI
10.1163/22129000-01502006
Publisher site
See Article on Publisher Site

Abstract

The last two decades have witnessed a growing interest and participation of the Gulf Cooperation Council ( GCC ) states in international arbitration as they have also joined the New York Convention and the Washington Convention. Still, scepticisms abound as to the efficacy of international arbitration in the GCC states. However, Dubai is considered to have the potential of being a Middle East business hub as it is modernising its arbitration law and practice in light of international developments. Forward thinking and innovative pro-arbitration institutions like the Dubai International Arbitration Centre ( DIAC ) - the leading arbitration centre in the UAE ; the Dubai International Financial Centre ( DIFC ) - a common law free zone within Dubai with its own sets of laws, including the DIFC Arbitration Law, and its own court system ( DIFC Courts) both of which are separate from Dubai and UAE laws and judicial systems; and the DIFC - LCIA Arbitration Centre, have turned Dubai into a growing propitious arbitration hub (i.e. a pro-arbitration and pro-enforcement jurisdiction) in the Middle East. While doubts continue to be raised with regard to the role and influence of the Shari’a on the arbitration process and on the enforceability of arbitral awards in Dubai, an examination of recent developments and trends in the arbitration rules and case law in Dubai reveals a promising environment for international arbitration, except for a few cases that followed formalistic grounds for denying enforcement. Recent cases from the UAE , and especially from Dubai, reveal a new attitude pervading the UAE judiciary that is more welcoming of the New York Convention and that is less likely to interfere with the merits of an arbitral award. However, the new UAE Draft Federal Arbitration Law is yet to be enacted. The article provides a critical appraisal of the recent legislative and institutional developments and international arbitral practice in the UAE and assesses Dubai’s prospect to be a Middle East business hub.

Journal

Journal of World Investment and TradeBrill

Published: Apr 9, 2014

Keywords: Dubai International Arbitration Centre; Dubai International Financial Centre; enforcement; foreign arbitral award; international arbitration; public policy; setting aside; Shari’a; United Arab Emirates

There are no references for this article.

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Search

Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly

Organize

Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.

Access

Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve

Freelancer

DeepDyve

Pro

Price

FREE

$49/month
$360/year

Save searches from
Google Scholar,
PubMed

Create folders to
organize your research

Export folders, citations

Read DeepDyve articles

Abstract access only

Unlimited access to over
18 million full-text articles

Print

20 pages / month