Enhancing Technical Expertise In The UAE’s Judicial System Strengthens Global Leadership Position

Abdulaziz Al-Ghurair, Chairman of the UAE Banks Federation (UBF), has expressed support for the recent directives from H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum. These directives aim to regulate the system for vetting and appointing technical experts in Dubai's judicial entities and establish the Dubai Judicial Technical Expertise Centre. Al-Ghurair believes these initiatives will enhance the UAE's status as a leading global economic and financial hub.

Al-Ghurair highlighted that these measures will improve the speed, efficiency, and transparency of the judicial system. They will also provide frameworks for using expert technical opinions in commercial cases. He emphasised that a robust judiciary is vital for strengthening the UAE's appeal as a destination for business and investment.

"Trust in legislative, regulatory, and judicial frameworks is a fundamental pillar for the development of the broader economic sector, particularly the financial and banking industries," stated Al-Ghurair. He noted that the UAE's legislative system creates a safe environment for individuals and institutions, reflected in international rankings and its attractiveness to talent, business, and investment.

The UAE's advanced legislation, such as the Commercial Transactions Law of 2022, provides a comprehensive framework promoting economic activity through transparent rules and contract enforcement. This fosters a favourable environment for investments, supporting both economic and social development efforts in the country.

Al-Ghurair mentioned that developing a competent system and establishing a specialised centre for judicial experts will aid in reaching fair settlements by considering specialised technical perspectives provided by experts to judicial authorities. This step aligns with efforts to attract top talents across various fields by amending provisions for registration on expert lists.

He added that aligning legislative and judicial systems with international best practices enhances transparency and fairness in dispute resolutions. This alignment boosts business community confidence, encouraging investment in the national economy.

UBF's Role in Banking Excellence

"At UBF, we work under the direct guidance of the Central Bank of the UAE to ensure a secure and seamless banking experience for customers," Al-Ghurair stated. He reiterated that amending expert registration provisions would help attract top talents across various fields, broadening expertise scope in different disciplines.

This initiative aims to meet rising demand for judicial services due to rapid economic growth. The move is expected to keep pace with increasing needs resulting from economic expansion.

The new directives are anticipated to significantly contribute to enhancing trust within legislative frameworks. They aim to bolster confidence among businesses while encouraging further investments into the national economy.

With inputs from WAM