Dubai Courts has established two new courts in the Commercial Court in order to speed up settlement of securities-related disputes. It has also announced the establishment of a law enforcement committee for Dubai’s financial markets.
The new entities were created as per the directives of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, and Chairman of the Dubai Judicial Council.
The new courts will focus on dispute resolution in securities, shares, bonds, and other such financial instruments. This launch of the initiative is designed to reinforce mechanisms to ensure the speedy delivery of justice in the financial sector and help Dubai’s judicial system further raise its stature in the global commercial judicial community.
Taresh Eid Al Mansouri, Director General of Dubai Courts, said the establishment of the new courts will support the emirate’s efforts to achieve greater success and excellence in a new phase of growth. The announcement also reflects Dubai Courts’ commitment to constantly enhance the judicial system and ensure high levels of accuracy and speed in delivering justice, which are key to protecting the rights of litigants and enhancing the trust of investors.
Khalid Obeid Al Mansouri, Chief Judge of the Commercial Court at Dubai Courts, said the establishment of the new courts reflects Dubai Courts’ efforts to raise the speed and efficiency of dispute resolution, enhance the protection of investors and participants in the financial market and accelerate the market’s development.
The Chief Judge of the Commercial Court added that the new courts will feature a remote litigation system that supports Dubai Courts’ aim of transforming itself into a smart judicial system. The Courts will introduce an interactive technology-based system that can be easily used by all parties including judges, advocates, experts and litigants.
The smart system will cover all stages of legal proceedings, starting from the submission of a request. It will also allow users to attach supporting documents and reports, sign with digital signatures and verify the identity of persons involved in hearings and remote legal proceedings. Furthermore, the remote system can be used to manage all internal procedures and facilitate case management and remote judgments.
Through the online system, judges and relevant departments can also follow up on cases, issue judgments and enforce rulings around the clock. The system can regulate authorization for officials, including judges, court staff, advocates and experts to access the courts’ information system, and registration and review of cases. This will prevent unauthorized individuals from accessing case information and documents without permission.