Egypt's Sovereign Fund partners with Scatec, Fertiglobe to develop green hydrogen facility    IMF sees Egypt's government gross debt hitting 91.4% of GDP in 2021    Egypt to be listed on JP Morgan emerging bond index late January 2022    Egypt hosts regional conference of EU refugee agency EASO    SCOHRE sparks discussion on harm reduction, tobacco control    TikTok hits 1 billion monthly active users worldwide    Egypt to receive first of six high-trains from Spain's Talgo in mid-November    Healthy food brand Abu Auf plans Egypt IPO in Q2-2022    National Bank of Egypt wins licence to open Saudi Arabia branch    Egypt's iron and steel exports jump 197% in 8 months    Ethiopia halts work at its embassy in Egypt for 'economic reasons'    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Over 100 officials resign from Tunisia's main Islamist party    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egyptian court bans use of mosques for political purposes    Brazil calls up 8 EPL players for World Cup qualifying    Refugees in fear as sentiment turns against them in Turkey    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Sisi calls on House, Senate to commence second legislative sessions on 3, 5 October    Huawei Technologies has invested $10 mln over 5 years in innovation centres in Egypt    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    Qa'a play showing at Lycee El Horreya Theatre, Alexandria is a must go    Orange Egypt Introduces Amazon Prime Video    Tokyo Olympics: Cautious opening ceremony, shy start for Egyptians in competitions    Mallawi Museum in Upper Egypt holds recycling workshop for children during Eid Al-Adha    Egypt keen on stable tax policies to attract more investors: Finance Minister    Sudan declares state of emergency as water goes beyond Merowe Dam capacity    Niagara Falls illuminated in Egyptian flag to mark 23 July Revolution anniversary    Capital flows into EM keep recovering after March 2020 slump: Central Bank of Egypt    1 child orphaned every 12 seconds due to COVID-19-associated death: World Bank    Egypt, Japanese Olympic Committee discuss boosting sports cooperation    US emphasises AU's role in mediating Ethiopian damdispute    Ethiopia ready to resume dam talks with no legally binding agreements: Ethiopian official    Sunken city of Thônis-Heracleion in Egypt's Abu Qir bay yields new archaeological treasures    New films, concerts, and destinations for Eid Al-Adha holidays    Egypt, Oman discuss enhancing bilateral economic, investment relations    Al Ahly v Kaizer Chiefs: Cairo giants eye 10th CAF Champions League title    Tunisia hopes to have a UN role in resolving Egypt-Ethiopia dam dispute    APO Group enters new exclusive agreement with Getty Images on African press releases and images    On International Museum Day, Egypt opens two new museums at Cairo Airport    Old Cairo's Al-Fustat will be revamped on Egyptian President's directives    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Kemet Centre for International Arbitration launched in Cairo
80% of investors bring third international party to arbitration over contracts, says Ahmed Fathy Sorour
Published in Daily News Egypt on 23 - 06 - 2021

The Kemet Centre for International Arbitration has been launched in Cairo as the first centre of its kind in Egypt.
Ahmed Fathy Sorour, Head of the centre's Board of Trustees, said that choosing Egypt as the centre's starting point was the result of fruitful cooperation and coordination with several Arab countries.
The Kemet Centre, launched on Tuesday, aims to serve as an investors' destination for its neutrality and transparency, as it boasts legal experts in the fields of banking, investment, and financing.
It will arbitrate in trade and investment disputes, offer legal consultations, and organise training courses to prepare well-qualified arbitrators to advocate before local and international bodies, Sorour added.
The centre will also organise conferences to raise legal awareness, in addition to offering all modern alternatives in resolving disputes and cooperating with other arbitration centres, he added.
Meanwhile, Deputy Speaker of the House of Representatives Mohamed Abou El Enein said that Sorour is a great addition to the Kemet centre, and described Tuesday's launch ceremony as a historical event.
Abou El Enein also said, "About 80% of the investors bring a third international party for arbitration, therefore we are here to announce the launch of the first Egyptian international arbitration centre."
The Kemet Centre will be a part of the international arbitration system, coming in line with the latest global standards, he added.
Safwat El Nahas, Chairperson of the Board of Directors at Kemet, said that the centre works to affirm support for arbitrators, especially those who have economic competencies to enhance transparency.
El Nahas pointed out that Kemet will contribute to fostering ways of investment, supporting cooperation among various bodies, and improving ways of settling disputes among the parties to boost economic relations.
The centre aims to prepare a new generation of arbitrators to support fields of international arbitration, he added.
During the ceremony, he underlined that the centre will have six branches across the Arab region, and will look to increase them in the future. He affirmed that the Arab presence at the centre's launch ceremony supports Arab cooperation and the centre's ideas.
Mohamed Al-Suhaim, Jeddah's public prosecutor, said the centre's launch comes in line with the great importance placed on trade and international cooperation. He made note of the increase in Saudi investments in Egypt due to its recent economic reforms.
Al-Suhaim asserted the importance of international trade which requires Arab arbitrators to achieve integration among countries in the region.
Meanwhile, head of the Arab Parliament Adel Al-Assoumi voiced his support for the Kemet Centre, which contributes to protecting investors, and added that the centre brings together pioneering legal experts at the Arab level.
The centre has announced the formation of its board of trustees, which is headed by Sorour, and includes: former Minister of Justice Ahmed El Zend; Mohamed Reda Shawkat, President of the Cairo Court of Appeal; Ibrahim El Henedi, former Minister of Transitional Justice; Mohamed Abou El Enein, Deputy Speaker of the House of Representatives; Maged El Sherbiny, former president of the Academy of Scientific Research and Technology (ASRT); Abdel Hamid Al-Bishri, Sudan's former ambassador to Djibouti; and Alaa Abed, head of the House of Representatives' transport committee.
The Board of Directors includes: Safwat El Nahas, former head of the Central Agency for Organization and Administration (CAOA); Samir Jawid, Head of the Egyptian Arbitration Centre; and Ahmed Saad El-Din, the House of Representatives' Deputy Speaker.
Moreover, the centre's Board of Directors announced its CEOs at its headquarters abroad: Ibrahim Hassan Al Molla, who took over the affairs of the centre's headquarters in Dubai; Salman Lotfi Ali for the Abu Dhabi and Sharjah headquarters; Abdel Wahab El Bahi for the Tunis headquarters; Fayez Sanhay for the Kuwait headquarters; Bishri for Sudan; Mohammed Al Shidi for Oman; and Mohammed bin Abdallah for Saudi Arabia.

Clic here to read the story from its source.