Manama, His Majesty King Hamad bin Isa Al Khalifa issued Decree (67) of 2024, establishing the Council for Developing Mechanisms for Resolving International Commercial Disputes in the Kingdom of Bahrain, based on a proposal from the Prime Minister and following the approval of the Cabinet. Article I The Council for the Development of International Commercial Dispute Resolution Mechanisms in the Kingdom of Bahrain shall be established and affiliated to the Cabinet. It shall be under the supervision of a minister designated by a decision from the Prime Minister. The council is referred to as "the Council" in this decree. Article II The Council aims to develop international commercial dispute resolution mechanisms in Bahrain and will focus on the following: 1- Formulating a strategy to promote Bahrain as a regional and international hub for commercial dispute resolution and proposing the necessary policies and priorities for its implementation. 2- Attracting legal expertise in the field of international c ommercial dispute resolution. 3- Coordinating with entities involved in international commercial dispute resolution to implement the strategy. 4- Enhancing capacity building, knowledge exchange, and research on best practices in dispute resolution, and adopting the latest technologies and innovations. 5- Undertaking any other tasks or responsibilities assigned by the Prime Minister. Article III The Council may have an advisory board, the formation, term, responsibilities, and operating procedures of which will be determined by a decision from the Prime Minister. Article IV The Council may seek the assistance of experts and specialists from entities involved in international commercial dispute resolution or any other government body, with prior coordination. Article V The Council will have a Secretary-General appointed by a decision from the Prime Minister. Article VI The Council will operate under internal regulations issued by a decision from the Prime Minister, detailing all necessary matters to enable the Council to achieve its objectives and fulfill its responsibilities. Article VII All government and official entities in Bahrain are required to provide the Council with the necessary data, information, and studies within the specified timeframes to support its operations. Article VIII The Prime Minister and ministers are responsible for implementing the provisions of this decree, which comes into effect the day after its publication in the Official Gazette. Source: Bahrain News Agency
Thursday, November 07, 2024