Maldives International Arbitration Center Has Officially Been Launched

A ceremonial event in partnership with Commercial Law Development Program, took place at Crossroads Maldives yesterday where Maldives International Arbitration Center was officially launched where The Chief Guest being the Chief Justice of Maldives, Muthasim Adnan, Attorney General, Justices of the High Court and other government officials were in attendance.

The Chairman of MIAC, Shahdy Anwar also graced the ceremony by highlighting the groundwork that has been done since 2019 after the current board was appointed, including the training of arbitrators, introducing an online case management poral and developing Modern Rules of Arbitration. The immediate past Global President of the Chartered Institute of Arbitrators, Francis Xavier and Special Counsel of Commercial Law Development Program, Zmarak Khan also addressed the invitees at the ceremony.

Arbitration is a form of Alternative Dispute Resolution in which the parties work out the disputed issue without going to court. An impartial third party, known as an Arbitrator, is chosen by the parties to listen to their case and make a decision. Speaking at the ceremony, the Chief Justice highlighted the importance of arbitration and the judicial system in place where the discharging the supervisory function of the courts under the Arbitration act effectively in order to enable speedy resolution of commercial disputes.