MUSCAT : The symposium emphasised 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 His Excellency Dr. Abdullah Mohammed Al Saidi, Minister of Justice and Legal Affairs, and was attended by His Excellency 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 the Oman Commercial Arbitration Centre will host the ‘Muscat Arbitration Days’ conference from December 2-4 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.

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