H.E. Dr. Al Qasabi Stressed the Importance of Developing and Speeding up the Settlement of Commercial Papers Dispute Issues.
During a workshop organized by MCI on Thursday, 09.02.2017, attended by H.E. the Minister, Dr. Al Qasabi stressed the need for developing the performance of the Commercial Papers Dispute Settlement Offices. The attendants discussed the major challenges facing such offices and the best ways to improve their performance.
This workshop, attended by the managers and members of the dispute settlement offices in the Kingdom, aims to exchange views and expertise on the challenges and obstacles facing such offices, and the proposed solutions to overcome these obstacles. The participants discussed also the proposed future plans to raise the performance level and to speed up the settlement process to resolve the commercial papers issues, also to have more partnerships with the concerned authorities, as well as to enhance the confidence of traders, investors and commercial papers dealers with such offices. This would be reflected positively on the investment environment in the Kingdom. At the conclusion of the workshop, it was agreed to set up an executive working team to study the challenges, and to examine the solutions and future plans proposed by the participants, and how to fulfill that.
It is worth mentioning that the dispute settlement offices are in charge of settling any disputes in commercial papers, to ensure trust and satisfaction among business dealers, and to achieve justice and equality among litigants. Notably, the dispute settlement offices are working through an integration partnership with the Ministry of Justice, Ministry of Interior and the Bureau of Investigation & Public Prosecution to consolidate efforts and to take action regarding the commercial papers dispute issues.