QICCA registered cases amounting to nearly QR3bn in 2023
The Peninsula
Doha, Qatar: Secretary General of the Qatar International Centre for Conciliation and Arbitration (QICCA) of Qatar Chamber, Ibrahim Shahbik, stated th...
Doha, Qatar: Secretary-General of the Qatar International Centre for Conciliation and Arbitration (QICCA) of Qatar Chamber, Ibrahim Shahbik, stated that the Centre made significant achievements last year. He emphasized its vital role in promoting the arbitration within the Qatari legal and business community since its establishment in 2006.
In a statement, Ibrahim Shahbik said that commercial arbitration is one of the most effective Alternative Dispute Resolution. He noted that it is based on speedy, specialized, and efficient means in settling disputes between the parties.
Elaborating on QICCA’s accomplishments in 2023, Shahbik noted that the value of cases received by the Centre last year amounted to approximately QR3bn, and that most cases registered by the centre related to construction and contracting contracts.
He said that an arbitral awards for nearly 35% of the total number of cases were rendered last year, while nearly 40% of those cases are not yet finalized.
Shahbik pointed out that Qatari arbitrators presented more than 50% of those appointed to hear arbitration proceedings in 2023. Additionally, 70% of the arbitral proceedings conducted under QICCA rules for 2023 were in English, in accordance with the parties' agreement.