SHIAC announces its affiliation to the European Court of Arbitration in the official annual meeting of the European Court of Arbitration in Valencia November 2008.
SHIAC was officially accepted as a Chapter of European Court of Arbitration.
We would like to present you with our latest investment in Sharm el Sheikh. As a law firm with international clients we realized the necessity of introducing an Arbitration Court, “Sharm El Sheikh International Arbitration Centre (SHIAC)”, seated in Sharm El Sheikh.
The basic principles of Arbitration have a long tradition in the Islamic world, especially in the application of Commercial Arbitration Procedures. Some Islamic states have a long history of experience of Arbitration dating back to centuries ago. In the 1970’s until the beginning of the 1980’s the strong dependence on the oil export business and foreign investors have in fact led to a dominance of contracts and Arbitration Awards given based on an international legal system. This badly regarded behavior under the international legal system resulted in a period of friction. In these times forces like nationalism, pan-arabism and unresolved conflicts in the area, have produced a sentiment against these foreign attitudes and values, which were considered as incompatible with Islamic tradition. As a result of this political view, domestic Arbitration did not participate in the development of modern International Arbitration Systems.
In the modern era of International Arbitration these periods of negative sentiment towards Islamic jurisdiction came to an end. Nowadays Islamic countries have increasingly accepted and supported the idea of International Arbitration, based on mutually developed rules in accordance with Islamic core values.
In recent decades, Sharm El Sheikh has established itself as a new international pole for peace processes in the world. Important peace accords have been concluded in Sharm El Sheikh, which has also been of great importance to the Arab world.
In addition, Sharm El Sheikh has become very attractive for tourism. International Hotel Organizations have recognized the increasing demand and have made substantial investments, enabling other business and infrastructure to grow.
For that reason, we are convinced that the services of a Local Arbitral Institution for Dispute Resolution will, in a better form, satisfy the demands of regional markets and also support local jurisdiction.
With our new approach, “Sharm El Sheikh International Arbitration Centre (SHIAC)”, aims to establish itself as a court centre of Excellence for Commercial Arbitration, Mediation and Conciliation as well as to promote Arbitral education programs and to provide legal advice. The Egyptian Arbitration Law No. 27/1994 underlies our future activities.
Most importantly, we see the great advantage of SHIAC in the form of strict confidentiality, impartiality, flexibility, efficiency, control and cost performance in comparison to litigation in national courts.
Lawyer – Court of Cassation