The Bahrain Association of Banks (BAB) and Dar Al-Qarar, a commercial arbitration centre, have discussed cooperation in the field of arbitrator rehabilitation and preparation. 

 

BAB Chairman of the Board of Directors Adnan Ahmed Yousif met Tariq Al Shamimri, Secretary-General of the Commercial Arbitration Centre for the Cooperation Council for the Arab Guild States ‘Dar Al-Qarar,’ recently to discuss ways to reinforce collaboration between the two parties within the framework of the centre’s services to the financial and banking sectors in the fields of arbitration in commercial and investment issues in the GCC states.

 

During the meeting, the two parties noted Dar Al-Qarar’s mission of providing qualified arbitrators to the Bahraini and Gulf markets.

 

Conflict resolution

Yousif noted the role of the Dar Al-Qarar Centre in serving the financial, banking, commercial and economic sectors through mediation and arbitration services that contribute to conflict resolution through settlement without resorting to law suits, and to serve the economic and investment environment in the GCC states.

 

“BAB is eager to expand its collaboration with Dar Al-Qarar by developing a long-term working methodology that will benefit both parties, especially given Al Shamimri’s significant role in leading the work of this centre and merging international experience with local expertise in the GCC countries to achieve contemporary best practices in the field of arbitration,” said Yousif.

 

Al Shamimri said the collaboration with BAB would broaden the horizons of Dar Al-Qarar in its work to develop the legal and arbitration environment in the Gulf states as a whole. In addition to providing advanced international arbitration that helps resolve disputes in the best way, it contributes to supporting the commercial sector and attracting foreign investment by providing a successful and accessible means of arbitrating trade disputes following best international practice.

 

Arbitration training

“Our philosophy of training at the centre stems from a vision that sees the energies of qualified youth as an opportunity to complete their legal and arbitration capacity and increase their knowledge to take responsibility for resolving commercial, financial and investment disputes through arbitration. This is done by providing trainees with the latest methods of arbitration,” Al Shamimri said. 

 

Dar Al-Qarar has distinguished itself since its inception in March 1995 in Bahrain through its interest in developing a programme for the rehabilitation and preparation of arbitrators.-- TradeArabia News Service