Global Arab Network | Bahrain's Ministry of Justice establishes Alternative Dispute Resolution centre

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Bahrain's Ministry of Justice establishes Alternative Dispute Resolution centre

Global Arab Network - - Hannan Taha

Tuesday, 18 August 2009 22:29

Bahrain_establishes_Alternative_Dispute_Resolution_centre

Bahrain's Ministry of Justice today signed an operating agreement with the American Arbitration Association (AAA), the world's leading provider of conflict management and dispute resolution services, to establish a new Alternative Dispute Resolution (ADR) centre in Bahrain to be known as the Bahrain Chamber For Dispute Resolution (BCDR-AAA).

In a ceremony held at the Bahrain embassy in London, Bahrain's Minster of Justice HE Sheikh Khalid bin Ali bin Abdulla Al Khalifa signed the formal agreement with AAA President & CEO William K. Slate II, which will see AAA best practice adopted by the new BCDR-AAA, set to open later this year.

Bahrain recently enacted legislation which entrenches the role of the BCDR-AAA in domestic law and establishes Bahrain as an attractive, neutral venue for multinational companies seeking to conduct international arbitrations.

Already a long-established financial hub in the Gulf regional, Bahrain believes that its secure and well regulated commercial environment could provide a similar focus across the wider region in the resolution of commercial disputes.

Bahrain Minister of Justice Sheikh Khalid, commented: 'The establishment of the Bahrain Chamber for Dispute Resolution in partnership with the AAA, is a significant step forward, not only for Bahrain, but for the wider Region. The BCDR-AAA will provide users including international legal firms, multi-nationals and governments contracting in the Gulf and beyond, with a purpose-built solution for the rapid, effective and certain resolution of commercial disputes, including arbitration and mediation.'

'As part of Bahrain's Vision 2030, we recognised the need for such a centre, grounded in international best practice, in order to provide industry with an added dimension of surety to commercial transactions and as a vital cornerstone for economic growth. But while the BCDR-AAA will be based in Bahrain, we fully expect it to act as a hub for users around the Gulf seeking a neutral venue for the resolution of their disputes, guaranteeing independence, impartiality and freedom from jurisdictional conflicts. We're immensely pleased to have the AAA as our partners in the BCDR-AAA, who bring with them an enormous pedigree, unrivalled experience and leading international best practice,' he added.

AAA President & CEO William K Slate II added, 'The AAA is delighted to have partnered with the Kingdom of Bahrain in the establishment of the BCDR-AAA. Bahrain holds unique standing within the Gulf region as a centre for commercial transactions, particularly within the financial sector. Its regulatory and commercial environment are second to none within the Region and the establishment of this centre will once again demonstrate Bahrain's foresight and understanding of the needs of the modern business world. I have no doubt that the BCDR-AAA will soon establish itself as the pre-eminent alternative dispute resolution facility within the Gulf and surrounding region.'

Global Arab Network

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