FNC approves draft law on setting up reconciliation centrer for civil and commercial disputes

The Federal National Council (FNC) endorsed today during its first ordinary session of 16th legislative chapter a draft federal law setting up the conciliation and reconciliation centres in civil and commercial disputes.

The session was headed by Dr. Amal Abdullah Al Qubaisi, Speaker of the FNC. And it was attended by Sultan bin Saeed Al Mansouri, Minister of Economy, Sultan bin Saeed Al Badi Al Dhahiri, Minister of Justice, Najla bint Mohammed Al Awar, Minister of Community Development, and Noura bint Mohammed Al Kaabi, Minister of State for Federal National Council Affairs.

The FNC stressed the importance of the bill in promotion of investment and business environment in the country through reaching easier and quick amicable settlements without the cost incurred in such disputes, particularly with regard to small and medium-sized enterprises, which play an important role in the revitalisation of the national economy.

Source: WAM