Symposium
Explores Means of Creating Secure, Transparent Investment Climate for Investors

Muscat,
14 Sep (ONA) — A symposium on commercial arbitration in banking, insurance,
and finance contracts, was today organized by the Oman Chamber of Commerce and
Industry in collaboration with the Oman Commercial Arbitration Centre.

The
symposium emphasized the crucial role of mediation and arbitration in resolving
disputes related to these contracts. The event also highlighted their
fundamental role in fostering an attractive business environment and creating a
secure, transparent investment climate that reassures investors that there are
swift and fair mechanisms for dispute resolution.

The
symposium was held under the auspices of Dr. Abdullah Mohammed Al Saidi,
Minister of Justice and Legal Affairs, and was attended by Faisal Abdullah Al Rowas,
Chairman of the Board of Directors of Oman Chamber of Commerce and Industry
(OCCI).

During
the event, it was announced that Oman will host the “Muscat Arbitration
Days” conference, organized by the Oman Commercial Arbitration Centre from
2-4 December at the St. Regis Al Mouj Muscat.

The
symposium featured several papers on the reality and challenges of arbitration
in banking disputes, arbitration in the banking sector, arbitration in
insurance during international crises, and the importance of arbitration in
banking and insurance contracts.

A
discussion session at the symposium affirmed that building an integrated
arbitration system is an essential pillar for ensuring a stable business
environment and supporting the national economy’s competitiveness. It also
addressed the most significant challenges in settling disputes in banking,
insurance, and finance contracts.

–Ends/AG