Recently, Dubai's prestigious private business club, the Capital Club, held an event to spread information among its members about the Dubai International Financial Centre Courts (DIFC Courts) and how they contribute to making Dubai a great place to do business.
The DIFC courts were presented by their chief executive and registrar Mark Beer OBE, who began by reminding attendees of the UAE's great achievements in securing the World Expo 2020 and fostering partnerships in the areas of justice, art, education and the empowerment of women. These were things the outside world didn't imagine the Middle East had to offer, he said, and they probably didn't know either that the DIFC Courts are open to all who need business support.
Beer went on to say that though London is still considered among many to be the best place to solve business issues, the Dubai International Financial Centre is emerging as an institution just as worthy of businesses' attention with its courts operating to the highest international standards and using English, the international language.
The courts protect businesses operating in, with and from the Middle East and no claim is too small to bother with - they have a small claims tribunal in which 90% of the claims are settled within three weeks. Many businesses now choose the DIFC Court over courts outside the region, because its decisions are enforceable by treaty across the Middle East. They are also enforceable by treaty in China, France and India and under common law in the courts of Britain, Canada, Australia and other parts of the world.
As Beer puts it, for the first time Dubai has an English language commercial court whose decisions are enforceable worldwide.
Victoria Pennington | Head of Legal & Regulatory | MEA