International Arbitration in Arab States Dissertation

International Arbitration in Arab States - oratory ExampleThe primary entropy consist of statutes and cases providing direct evidence of the arbitrement law and practices. Secondary data consist of textbooks, journal articles, and other publications relevant to international mercenary arbitrament, and arbitration in the Arab Middle East. enquiry results indicate that Islamic law has significant influence on attitudes, laws and practices relative to arbitration and international arbitration in the Arab Middle East. However, while Egypt and Jordan have made significant progress in modernizing their arbitration laws to go increased international trade, Saudi Arabia, the most conservative Islamic state in the region is fight to make these accommodations. Although a new law is currently underway in Saudi Arabia, its future is groping given the long history of ambivalence toward international commercialized arbitration informed by unsatisfying experiences highlighted by the ARAMCO d ecision in 1958. Despite Egypts progress it has also recently taken a step backward with the Ministry of Justices Decree of 2008. This Decree mandates that all arbitral awards are reviewed in secrecy by the Ministry of Justice.... 90 Elsaman, 2011, p. 8). Globalization has also increased the extent to which all states interact with one a nonher in international commerce and international trade. As a result, states recognizing the inadequacy of domestic courts to deal with international commercial disputes have increasingly turned to international commercial arbitration as a more executable method of resolving domestic disputes. However, according to Gemmell (2006), due to Islamic traditions and influences, the Islamic Middle East which is generally the Arab Middle East has not fully embraced a modern system of international commercial arbitration (p. 169). Of particular concern is the fact that although arbitration is consistent with Islamic tradition, enforcing international comm ercial arbitral awards in the Arab Middle East can be problematic. A number of national courts in the Arab Middle East, especially Islamic courts have been averse to enforcing international commercial arbitral awards on the grounds that the award is irreconcilable with public policies or more particularly, Islamic law and traditions (Elsaman, 2011, p. 8). This is arguably a loophole facilitated by international commercial arbitration itself. The New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, 1958 (hereinafter the New York Convention) permits member states to revoke enforcement of an award if it is found to be contrary to public policy (New York Convention, Article V(2)(b)). Complicating matters, the New York Convention does not define the phrase public policy. International commercial arbitration in the Arab Middle East is largely influenced by Islamic law and traditions more broadly known as sharia law compliant laws and traditions (Kutty, 200 6, p. 566). Sharia in this regard