The last 12 months have seen a number of important developments in arbitration practice in the Middle East, some comforting to the arbitration community, some controversial. Here, we present a summary of the key themes from 2016, and give our thoughts on what to expect in 2017.
Following changes brought in by a number of other arbitral institutions including the DIFC-LCIA Arbitration Centre, the Dubai International Arbitration Centre is to amend its Arbitration Rules to bring them in line with modern arbitration practice and to ensure its offering remains competitive
The Dubai International Arbitration Centre (“DIAC”) is now implementing its new strategy, designed to develop its international presence and dispel any notion that it is an 'onshore' only institution.
On 27 September 2016, DIAC, arguably the leading arbitration centre based in onshore Dubai, inaugurated a new office in offshore Dubai, situated within the Dubai International Financial Centre (“DIFC”), cementing its new strategy of cooperation with the DIFC Dispute Resolution Authority (“DRA”). Prior to the move, on 20 September 2016, DIAC entered into a memorandum of understanding (the “DIAC-DIFC Memorandum”) with the DRA, the purpose of which is stated as being to “execute, consult, cooperate and exchange information….in areas of mutual interest that will further enhance their respective strategic interests and objectives”.