Maktoum bin Mohammed Evaluates the Dubai International Arbitration Centre's 2023 Annual Report

Photo : Dubai government media office

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the First Deputy Ruler of Dubai and the Deputy Prime Minister and Minister of Finance of the UAE, recently reviewed the 2023 annual report of the Dubai International Arbitration Centre (DIAC), the region’s largest and leading institution for alternative dispute resolution (ADR). The report highlights a transformative year characterized by substantial growth and global outreach for DIAC, evidenced by a significant rise in the number of cases, reinforcing Dubai’s position as a trusted global destination for resolving disputes.

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In his remarks, Sheikh Maktoum emphasized that, guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai, the emirate is solidifying its status as one of the top five global hubs for arbitration and dispute resolution. This progress is crucial for enhancing business confidence and attracting investment, directly supporting the Dubai Economic Agenda (D33), which aims to double the emirate's economy and rank it among the world’s top three urban economies.

Sheikh Maktoum further stated that DIAC's exceptional performance in 2023 reflects ongoing efforts to develop a robust and transparent legal system that aligns with international best practices. This focus ensures efficient dispute resolution through alternative means. He commended the dedication of DIAC officials, which has significantly contributed to the improved outcomes achieved over the past year. “We remain committed to supporting DIAC's continued success in delivering justice to all parties, globally,” he concluded. “DIAC exemplifies efficient, high-quality services that meet the evolving needs of the arbitration and business communities, reinforcing trust in our legal system.”

His Excellency Dr. Tariq Humaid Al Tayer, Chairman of the Board of Directors at DIAC, expressed that the Centre’s growth and development are attributed to the dedication and hard work of its team. Their determination has significantly contributed to the recognition that DIAC has earned over the past year. As the Centre prepares to celebrate its 30th anniversary in 2024, its focus will remain on embracing innovation and enhancing efficiency to ensure that Dubai continues to be the preferred destination for dispute resolution.

In 2023, DIAC recorded 355 new cases, marking a 4.4% increase from the previous year. Total claims exceeded AED 5.5 billion (approximately $1.497 billion), with the largest dispute amounting to AED 1,094,554,000 ($298,040,486).

Key sectors benefiting from DIAC’s expertise included construction, real estate, banking and finance, logistics and transport, tourism, media, and technology and telecommunications. The steady growth in cases at DIAC reflects the increasing popularity of ADR within the commercial sector, where DIAC has established a strong reputation for its efficient and cost-effective arbitration and mediation services.

DIAC has also joined the Global Arbitration Review’s white list, becoming the only arbitration centre in the UAE and one of only three in the Middle East and Africa to achieve this distinction.

Parties from 49 countries, including Saudi Arabia, the UK, India, China, Germany, Singapore, Nigeria, and the USA, have chosen DIAC, underscoring its global status and the trust it has built with international stakeholders. This international trust reaffirms DIAC’s standing as a leading international arbitration centre.

In 2023, DIAC implemented significant governance enhancements, including the reformation of its Arbitration Court. Notably, Jehad Kazim was appointed as Executive Director, becoming the first woman to lead the institution, while Robert Stephen was appointed as Registrar. These changes, along with investments in the casework team, have improved DIAC's operational efficiency.

To promote continuous improvement, DIAC launched a stakeholder and user survey to gather feedback and insights for future enhancements. By delivering world-class ADR services, DIAC enhances Dubai’s reputation as a business-friendly commercial hub, ensuring excellence and fairness in its dispute resolution processes.

The Centre also expanded its global reach by forming strategic alliances with key regional and international stakeholders. This aligns with its goal to advocate for ADR as the preferred method for dispute resolution, share expertise, and contribute to the development of the arbitration ecosystem.

In a reflection of its commitment to inclusion, diversity, and equality, 31% of all arbitrators appointed by the Arbitration Court last year were women. Notably, this percentage increased to 47% when selecting arbitrators for the Court, aligning with DIAC's commitment to promoting gender parity within the arbitration system.

DIAC has remained active in hosting events and training initiatives. The Centre supported Dubai Arbitration Week, which featured 102 events, and hosted significant international gatherings, such as the 22nd International Congress of Maritime Arbitrators (ICMA XXII) and the Inter-Pacific Bar Association (IPBA) 2023 Annual Meeting and Conference in Dubai. Additionally, DIAC collaborated with various educational institutions to offer courses aimed at nurturing the next generation of arbitration professionals. New training initiatives, including the DIAC 3 Stage Training Programme, culminate in a professional diploma in international arbitration, further advancing arbitration education.

As DIAC prepares to celebrate its 30th anniversary in 2024, it remains dedicated to advancing the field of dispute resolution. The Centre’s role in bolstering investor confidence through transparent and efficient mechanisms contributes significantly to the Dubai Economic Agenda D33 and the UAE Centennial 2071 plan. DIAC is committed to setting new benchmarks in arbitration excellence and enhancing its position as a leading arbitral institution in the Middle East, Africa, South Asia (MEASA) region, and on the global stage.

Established in 1994, the Dubai International Arbitration Centre (DIAC) is the largest arbitral institution in the MEASA region. As an independent, non-governmental, and not-for-profit organization, DIAC provides comprehensive dispute resolution services to parties across various industries worldwide. With nearly three decades of experience, DIAC has continually evolved to meet the needs of the global business community. Since 2022, DIAC has introduced updated arbitration rules, reformed its Arbitration Court, and expanded its Board of Directors to enhance its services. DIAC is dedicated to resolving disputes efficiently and impartially, ensuring fair outcomes for all parties involved.

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