The final standing committee for the Saudi Arbitration Centers will be formed, the Council of Saudi Chambers (CSC) announced March 9.
Per the Council of Ministers decree, the arbitration centers have now been moved from the Ministry of Justice to CSC.
Chair of the standing committee will be CSC Assistant Secretary General of Legal Affairs Saud Al Meshari, with Faisal Al Kheraijy, legal consultant, to serve as secretary. CSC Chairperson Dr. Abdulrahman Al Zamil voiced his approval of the newly elected leaders, noting their extensive experience in their individual fields. The McKinsey Global Institute ranks Saudi first the Arab Region economy and 10th worldwide, which speaks to the importance of collaboration within the Kingdon, Al Zamil noted.
Standing committee members include Abdullah Al Falaj, CSC; Abdulaziz Al Duhaim, Ministry of Commerce; Osama Al Zaid, Ministry of Justice; Ayedh Al Otaiby, SAGIA; and Abdulnasser Al Sehebani. Members of expertise are Abdulaziz Al Mhanna, Nasser Al Dawood and Yassin Khayat.
In addition to allowing CSC to work with the standing committee to assemble the arbitration centers’ boards rather than the Ministries of Justice and Commerce, the Council of Ministers also permitted more powers and duties to the standing committee of Arbitration Centers. Those responsibilities include preparing a list of licensed arbitrators within the kingdom for interested parties to review and select from. The extra duties will now be completed, in addition to the committee’s original tasks of setting guidelines for arbitrators’ fees and expenses -- as well as standards to approve arbitrators in licensed centers and approving licenses to create arbitration center branches.