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Malaysia closer to achieving preferred Islamic arbitration hub goal

Posted on 03 September 2012

Malaysia is closer to achieving its goal to be the preferred destination for arbitration as it introduces Islamic Arbitration Rules and Fast Track Arbitration Rules. This was revealed by Datuk Sundra Rajoo, the director of the Kuala Lumpur Regional Centre for Arbitration (KLRCA).
Currently, Hong Kong and Singapore are the sought-after locations in the region for arbitration settlement. Arbitration is where parties in a dispute decide to settle their differences with an impartial person (the arbitrator) sitting in to listen and award. This method of not going to the court to settle usually saves time and money but the decision by the arbitrator is final………………………………………..Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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