The Ministry of Justice, Islamic Affairs and Endowments has organized a roundtable which provided valuable insights into the latest developments in arbitration in Bahrain and the region.
Singapore International Arbitration center (SIAC) and other Bahrain-based leading financial and legal professionals took part in the discussions and shared their insights on the latest investment trends as well as alternative dispute resolution methods specifically international arbitration and mediation in Bahrain.
The attendees noted that Bahrain has a strong culture of arbitration both ad hoc and institutional.
The participants noted that the majority of contracts in the construction and energy sector has an arbitration clause, highlighting the steady increase in the use of mediation in recent years in Bahrain.
They attributed this trend to the growing awareness of mediation as a cost-effective and efficient method for dispute resolution among businesses operating in Bahrain.
They also noted the choice of Bahrain as the seat of arbitration in high value claims attributing that to the supportive judiciary and the ease of enforceability of the arbitral awards.
Bahrain has all the necessary features for an attractive hub for arbitration and mediation in the region, they said.
They underlined Bahrain’s efforts to promote it as a regional hub for International Commercial Arbitration and to facilitate the dispute resolution process for businesses operating in the region.
Source: Bahrain News Agency (BNA)