Michael Hwang and Essa Kazim at the signing
Dubai in key dispute resolution services deal
DUBAI, UAE, December 13, 2015
The Dubai Financial Market (DFM) and DIFC Dispute Resolution Authority (DRA) have signed a deal to help provide companies listed on Dubai’s main bourse greater access to a broad range of commercial dispute resolution services.
The duo will collaborate closely to enable DFM and its member companies to fully utilise the DRA’s suite of services. They will also develop an international outreach programme to jointly promote DFM and DRA services to international investors and companies.
The agreement was signed by chairman of DFM, Essa Kazim, and Michael Hwang, head of the DRA and chief justice of the DIFC Courts, according to a statement.
The DRA administers justice and legal excellence within the DIFC and is the gateway to a suite of services available to businesses.
Its divisions, which include the DIFC Courts; DIFC-LCIA Arbitration Centre; DIFC Wills and Probate Registry; and Academy of Law; work in partnership with other departments in the emirate to enable businesses to resolve their commercial disputes, while developing UAE legal talent and protecting individuals investing or living in Dubai.
Commenting at the signing, Kazim said: “This significant step underlines DFM’s relentless efforts to lay out the necessary framework for cooperation and jointly working with concerned institutions to further enhance Dubai’s favourable and attractive environment for investment.”
“This arrangement will further strengthen market participants’ confidence in DFM’s world-class business environment which plays an integral part in fortifying Dubai’s leading position as a dynamic international financial centre,” he added. -TradeArabia News Service
