Recently, the UAE introduced Federal Law No. (15) of 2023 (The “Amendments”), which substantially revised the previous Federal Law No. (6) of 2018. The Amendments have been strategically crafted to enhance the arbitration processes in the country by addressing various aspects of the arbitration process, such as the selection of arbitrators, the procedures for arbitration, the use of technology in arbitration, and the impartiality of arbitrators.
These Amendments became effective on 16 September 2023, and are in line with the UAE’s goal of establishing itself as a prominent global center for arbitration. This legislative step underscores the UAE’s dedication to the field of arbitration, illustrating the country’s ongoing effort to evaluate and enhance the Federal Arbitration Law in accordance with best practices. This commitment is aimed at ensuring that the UAE remains an appealing choice for those seeking arbitration services, marking another stride in its journey toward becoming an established international arbitration hub.
For more information in this regard, please contact:
Zijad Hanic
Counsel
[email protected]