Majid Mamduh Kamel, Secretary General of the Organization of Islamic Cooperation Arbitration Center (OIC-AC), stated that they received the first arbitration application as the centre.
According to the statement made by the center, lawyers, law practitioners and arbitration center officials from different countries came together at the Uzbek Arbitration Week held on September 10-15.
Making a speech at the event, Secretary General Kamel gave information about the center to the participants.
Stating that the center is authorized to offer alternative dispute resolution methods to the parties in resolving trade, investment and Islamic finance disputes and that its authority covers the whole world, Kamel stated that the center received its first arbitration application when it actually started operating.
Kamel noted that cooperation between the world's leading arbitration centers is necessary for the development of international arbitration.
WHAT IS OIC-AC?
The Arbitration Center of the Organization of Islamic Cooperation, headquartered in Istanbul, serves as an international alternative dispute resolution centre.
The Center operates in accordance with the Host Country Agreement between Turkey and the Islamic Chamber of Commerce, Industry and Agriculture.