​Maktoum bin Mohammed reviews Dubai International Arbitration Centre’s 2023 annual report

• DIAC records significant increase in cases, bolstering Dubai’s status as a trusted global destination for dispute resolution
• DIAC’s role in bolstering investor confidence through transparent and efficient dispute resolution mechanisms contributes to the Dubai Economic Agenda and the UAE Centennial 2071 plan
• His Highness: DIAC exemplifies efficient, high-quality services that meet the evolving needs of the arbitration and business communities, reinforcing trust in our legal system

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE, reviewed the 2023 annual report of the Dubai International Arbitration Centre (DIAC), the region's largest and leading alternative dispute resolution (ADR) institution. The report highlighted yet another transformative year marked by substantial growth and global expansion for DIAC, as evidenced in a significant increase in cases within its purview, thus bolstering Dubai’s status as a trusted global destination for dispute resolution.

HH Sheikh Maktoum stated: “Guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the emirate is solidifying its position as a top-five global hub for arbitration and dispute resolution. This strengthens business confidence and attracts investment, directly supporting the Dubai Economic Agenda (D33) objective of doubling Dubai's economy and establishing it among the world's top three urban economies.”

His Highness further emphasised that the exceptional performance of the DIAC in 2023 reflects ongoing efforts to build a robust and transparent legal system aligned with international best practices, ensuring efficient dispute resolution through alternative means. His Highness commended DIAC officials for their dedication that had helped achieve the improved outcomes. “We remain committed to supporting DIAC's continued success in delivering justice to all parties, globally,” he concluded. “DIAC exemplifies efficient, high-quality services that meet the evolving needs of the arbitration and business communities, reinforcing trust in our legal system.”

• Preferred destination

His Excellency Dr. Tariq Humaid Al Tayer, Chairman of the Board of Directors, DIAC, said, “The growth and development of the Centre could not have been achieved without the dedication and hard work of our people. Their determination and perseverance have brought about much of the recognition that the Centre has earned over the past year. As we celebrate our 30th anniversary in 2024, our focus continues to be on embracing innovation and increasing efficiency to ensure that Dubai is the preferred destination for dispute resolution.”

DIAC recorded 355 new cases in 2023, a 4.4% increase from the previous year, with total claims exceeding AED5.5 billion ($1.497 billion). The highest amount relating to a dispute was AED1,094,554,000 ($298,040,486).

• Cost-effective services

Key sectors that benefited from DIAC’s expertise included construction, real estate, banking and finance, logistics and transport, tourism, media, and technology and telecommunication. The steady growth in cases at DIAC reflects the increasing popularity of ADR within the commercial sector, where DIAC has established a strong reputation for its efficient and cost-effective arbitration and mediation services.
DIAC joined the Global Arbitration Review’s white list, and is the only arbitration centre in the UAE and one of only three in the Middle East and Africa regions to achieve this distinction.

Parties from 49 countries, including Saudi Arabia, the UK, India, China, Germany, Singapore, Nigeria, and the USA, chose DIAC, reflecting its global status and the trust it has built with international parties. This international trust underscores DIAC’s standing as a leading international arbitration centre. 

• Enhanced operational efficiency

In 2023, DIAC witnessed significant governance enhancements, including the reformation of its Arbitration Court, the appointment of Jehad Kazim as Executive Director (the first woman to lead the institution), and Robert Stephen as Registrar. These changes, alongside investments in the casework team, have enhanced DIAC's operational efficiency.

To support continuous improvement, DIAC launched a stakeholder and user survey, gathering feedback and insights for future enhancements. By delivering world-class ADR services, DIAC enhances Dubai’s reputation as a business-friendly commercial hub that ensures excellence and fairness are integral to its dispute resolution process.

• Strategic alliances

The Centre also expanded its global reach by forging strategic alliances with key regional and international stakeholders, in line with its goal to advocate for ADR as a preferred method for dispute resolution, share expertise and best practices, and contribute to the development of the arbitration ecosystem.

Reflecting its strong and active stance on inclusion, diversity, and equality, 31% of all arbitrators appointed by the Arbitration Court last year were women. Notably, when the Arbitration Court selected arbitrators, this percentage increased to 47%, reaching near parity, aligning with DIAC's commitment to driving positive change and promoting gender parity within the arbitration system.

DIAC has been considerably active in events and training as well. The Centre supported Dubai Arbitration Week, which included 102 events and hosted significant international events such as the 22nd International Congress of Maritime Arbitrators (ICMA XXII) 2023 and the Inter-Pacific Bar Association (IPBA) 2023 Annual Meeting and Conference in Dubai. The Centre also collaborated with various educational institutions to offer courses designed to help nurture the next generation of arbitration professionals. Additionally, aiming to advance arbitration education and develop greater capacity within the field of ADR, DIAC has introduced new training initiatives, including the DIAC 3 Stage Training Programme, which culminates in a professional diploma in international arbitration.

As DIAC celebrates its 30th anniversary in 2024, the Centre remains dedicated to advancing the field of dispute resolution. DIAC’s role in bolstering investor confidence through transparent and efficient dispute resolution mechanisms contributes to the Dubai Economic Agenda D33 and the UAE Centennial 2071 plan. DIAC is committed to setting new benchmarks in arbitration excellence and enhancing its position as a leading arbitral institution not only in the Middle East, Africa, and South Asia (MEASA) region but also on the global stage, establishing itself as a world leader in the ADR field.

Established in 1994, the Dubai International Arbitration Centre (DIAC) is the largest arbitral institution in the Middle East, Africa, and South Asia (MEASA) region. As an independent, non-governmental, and not-for-profit organisation, DIAC provides comprehensive dispute resolution services to parties across various industries worldwide. With nearly three decades of experience, DIAC has continually evolved to meet the needs of the global business community. Since 2022, DIAC has introduced updated arbitration rules, reformed its Arbitration Court, and expanded its Board of Directors to enhance its services further. DIAC is committed to resolving disputes efficiently and impartially, ensuring fair outcomes for all parties involved. For more information, visit diac.com.