Dubai Courts establishes two new courts to address securities-related disputes
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Dubai Courts establishes two new courts to address securities-related disputes

Dubai Courts establishes two new courts to address securities-related disputes

Dubai Courts also announced the formation of a law enforcement committee for the emirate’s financial market

Dubai Courts

On Saturday Dubai Courts announced the formation of a law enforcement committee for Dubai’s financial markets and the establishment of two new courts within its Commercial Court to expedite the resolution of disputes related to securities.

The directives to do so were issued by 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.

The new courts will focus on dispute resolution in securities, shares, bonds, and similar financial instruments.

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 and enhance the protection of investors and participants in the financial market.

The Chief Judge of the Commercial Court added that the new courts will feature a remote litigation system. The Courts will introduce an interactive technology-based system that can be 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, according to news agency WAM.

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 authorisation for officials, including judges, court staff, advocates and experts to access the courts’ information system, and registration and review of cases. This will reportedly prevent unauthorised individuals from accessing case information and documents without permission.

In related developments, in August, a special court focused on combating money laundering was set up in Dubai within the Court of First Instance and Court of Appeal.

Read: New court in Dubai to fight money laundering cases

It followed the establishment of the Executive Office of the Anti-Money Laundering & Countering the Financing of Terrorism (AML/CFT) by Sheikh Mohammed to oversee the implementation of the UAE’s National AML/CFT Strategy and National Action Plan (NAP).

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