The visit aimed to introduce the Chamber’s Commercial Dispute Settlement Center and showcase the services it offers as an effective alternative mechanism for resolving business disputes. The discussion emphasized the importance of promoting awareness of such options as a proactive step before resorting to legal proceedings. The delegation presented the Center’s operating model, highlighting its role in accelerating dispute settlement, preserving business relationships, and supporting a healthy commercial environment, particularly in light of the CBB’s regulatory oversight of the financial, banking, and insurance sectors.
Nass highlighted the Chamber’s commitment to fostering a culture of effective settlement, which plays a vital role in reinforcing Bahrain’s position as a stable and attractive economic hub. He stressed the importance of integrating dispute settlement mechanisms within financial procedures to bolster confidence and reflect the Kingdom’s dedication to transparency and investment-friendly reforms.
In response, Governor Humaidan welcomed the initiative and expressed the Central Bank’s openness to exploring avenues of collaboration with the Center. He affirmed the CBB’s support for alternative dispute settlement mechanisms that enhance the efficiency and sustainability of Bahrain’s financial ecosystem.
The meeting was also attended by the Chamber’s First Vice-Chairman Khalid Najibi, President of the Center’s Board of Trustees and Executive Committee Member at the Bahrain Chamber Basim Alsaie, and CEO of the Bahrain Association of Banks Dr. Waheed Al Qassim.
It is worth noting that the Commercial Dispute Settlement Center serves as a specialized entity dedicated to mediation and settlement of disputes that may arise among Chamber members or between members and external parties. Headquartered at Bahrain Chamber, the Center offers mediation and settlement services between Chamber members and other parties. It is overseen by a Board of Trustees, a Supervisory Committee, and a General Secretariat, and operates in line with the highest international standards. Its mission is to deliver swift, flexible, and confidential dispute settlement, promote a culture of mediation, support economic security, and develop national expertise in globally recognized alternative settlement methods.
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