ACCI, DIFC Courts sign MoU to support businesses in the UAE

The Ajman Chamber of Commerce and Industry (ACCI) and the Dubai International Financial Centre (DIFC) Courts have signed a Memorandum of Understanding with a vision to promote collaboration, knowledge sharing, and information exchange on matters of common interest, in order to support the UAE business community.

The MoU was signed by Abdullah Saeed Al Nuaimi, Board Member, Ajman Chamber of Commerce and Justice Omar Juma Al Mheiri, Deputy Chief Justice of DIFC Courts, at the headquarters of Ajman Chamber.

The signing ceremony was also attended by Abdullah Al Muwaiji, Chairman, and Salem bin Ahmed Al Nuaimi, Deputy Chairman of ACCI, and Justice Nassir Al Nasse -the DIFC Courts.

As stated in the MoU, the cooperation will involve the promotion of the DIFC Courts’ efficient and independent English language common law system, including promotion of the DIFC Courts Wills Service, as well as the exchange of experiences and information between both sides.

The two parties further agreed on the importance of launching awareness campaigns aimed at the business community, as well as promoting the services provided by both parties, whilst providing each other with statistics, publications, periodicals, indications, laws, and regulations governing their public services for the benefit of the end-users.

Abdullah Saeed Al Nuaimi applauded Ajman Chamber’s efforts to provide an attractive and sustainable business environment that upholds legal rights and enhances the Emirate’s economic competitiveness, stressing that the MoU will provide new ground for direct cooperation between the Ajman Centre for Commercial Conciliation and Arbitration and the DIFC Courts.

He also commended the efforts of the federal and local authorities associated with judicial affairs in enhancing the competitiveness of the economic sector whilst ensuring and preserving legal rights in a way that supports the continuity of businesses and the growth of the private sector in the country.

He stressed the importance of the MoU and its role in diversifying legal services to protect businesses’ interests and consolidate the economic position of Ajman, highlighting the Chamber’s efforts to collaborate with various local and federal agencies to achieve their common goals.

Justice Omar Juma Al Mheiri praised the efforts of the Dubai and the UAE in providing a legal environment that stimulates each individual sector, as well as the wider economy. He affirmed that the DIFC Courts is very active with ensuring that all UAE entities and agencies receive the support and expertise of the DIFC Courts, to deliver value-added services and promote growth and sustainability plans for all parties.

The UAE’s DIFC Courts administers a unique English-language common law system - offering swift, independent justice to settle local and international commercial or civil disputes.

The Courts, based in Dubai, provide certainty through transparent, enforceable judgments from internationally recognised judges, who adhere to the highest global legal standards.

The DIFC Courts is independent from, but complementary to, the UAE’s Arabic-language civil law system - offering a choice that strengthens both processes while ensuring public access to world-class justice.

The DIFC Courts was established under laws enacted by the late Sheikh Maktoum Bin Rashid Al Maktoum, Ruler of Dubai in September 2004. The laws establishing the DIFC Courts are designed to ensure that the DIFC Courts provide the certainty, flexibility and efficiency expected by Court users. The Courts’ community-focused approach encourages early settlement, while their successful track record supports Dubai’s growing status as an international business hub.

In October 2011, a decree of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister of the UAE and Ruler of Dubai, opened the DIFC Courts’ jurisdiction to businesses from all across the GCC region and beyond to provide the international business community with access to one of the most advanced commercial courts in the world.

The DIFC Courts serves to develop the UAE national workforce and enhance the competitiveness of Emirati advocates. The DIFC Courts is spearheading training programmes predominantly aimed at local Emirati lawyers, which offer knowledge of, and qualifications in, the English-language common law system.

The DIFC Courts Wills Service is a joint initiative of the Government of Dubai and the DIFC Courts that gives non-Muslims investing and living in the UAE the option to pass on their assets and/or appoint guardians for their children, in accordance with the instructions in their Will.

The Wills Service was established by Resolution No.4 of 2014 issued by His Highness Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, the President of the Dubai International Financial Centre (DIFC), and its authority re-affirmed by Dubai Law No.15 of 2017 issued by his Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, regulating inheritance, Wills and Probate for non-Muslims.