CSC Forms new Standing Committee for Saudi Arbitration Centers

The Council of Saudi Chambers (CSC) announced forming the final Standing Committee for Saudi arbitration centers, now relocated from the Ministry of Justice to CSC as per the Council of Ministers decree (No.107).
Assistant Secretary General of Legal Affairs at CSC Dr. Saud Al Meshari was elected Chair of the Standing Committee, with legal consultant Faisal Al Kheraijy as Secretary. CSC Chairperson Dr. Abdulrahman Al Zamil commended the newly elected members, noting their vast experience in their respective fields. Al Zamil explained that arbitration is an important part of the Kingdom due to its significant involvement in world economy (it ranks first in the Arab Region and 10th worldwide as per to McKinsey Global Institute).

Members of the Standing Committee include: Osama Al Zaid (Ministry of Justice), Abdulaziz Al Duhaim (Ministry of Commerce), Dr. Ayedh Al Otaiby (SAGIA), Abdulnasser Al Sehebani and Abdullah Al Falaj (CSC). In addition to Abdulaziz Al Mhanna, Dr. Nasser Al Dawood, Yassin Khayat as members of expertise.

It is worth noting that the Council of Ministers allowed more powers and responsibilities to the Standing Committee of Arbitration Centers, including preparing a list of licensed arbitrators in the Kingdom for concerned bodies to review and choose from. In addition to enabling CSC to form the arbitration centers’ boards in cooperation with the Standing Committee instead of the Ministries of Justice and Commerce. These extra powers are added to previous ones, which include approving licenses to create arbitration center branches, setting standards to approve arbitrators in licensed centers, and setting guidelines for arbitrators’ fees and expenses.