It will also discuss the procedures involved in enforcement and how these can pose a challenge to the foreign arbitrators. In clear terms, non-conformity with the Islamic Law will lead to rejection of the application for a foreign arbitral award by the Kingdom of Saudi Arabia. Here the paper will attempt to answer the question “What policies should the Kingdom of Saudi Arabia consider taking up in order to address the limitations and difficulties faced in enforcement of foreign arbitral awards?” The proposal here shall outline the rationale or background of the problem specified by the question and after explaining this, it will outline the research method to be taken in order to reach our desired inference. This will be followed by targeted literature review and a provisional chapter outline for the contents. Elaboration of the proposal The proposal outlines the path that will be adopted by the dissertation which will focus on the Saudi Arbitration Law 1983 and the Rules for its Implementation (IR) in 1985 in order to understand and analyze the legal dimensions of the arbitration procedures under the Saudi government. It will take up a study of scholarly books and articles to provide an account of the role of Islamic schools in the Saudi legal framework and the specific articles of the law which pose a challenge to foreign arbitrators. The Code of Commercial Court of 1350H in 1950 made provisions for the conflicting sides to reach a solution to mutual disputes or disagreements. Other authentic articles available online have helped in throwing light on the legal framework and the reason behind the initiation of the need for the presence of a neutral entity or an independent arbitral forum. The renowned dispute between the Arabian American Oil Company (ARAMCO) and the government of Saudi initiated the foreign arbitrators to consider the necessity of reconsidering the Shari’ah as the sufficient framework of law to govern the energy disputes arising form complex issues and therefore the law could not serve as a governing one2. However a delve into the way the religion of Islam influences all decisions of the Saudi government can enable one to understand that the country is sceptical to some extent in enforcing foreign arbitral awards especially when they concern non-Saudi law of governance. Some new policies such as Article 3 of Arbitration Law in 1983 were passed owing to the economic boom of 1970 which brought about foreign companies’ investments in the nation. The Article 3 brought a shift in the position of the government towards international arbitration. Attempts have been taken to regulate the national arbitration law regarding settlement of commercial disputes3. Keeping such proceedings in the backdrop, the proposal attempts to determine the key setbacks and limitations posed during the implementation of foreign arbitral awards in the nation. This will set the ground of justification for addressing the research question framed in the previous section. The process of close scrutiny of the issue present in the doctrines of the law might determine certain sensitive concerns which might deteriorate the effectiveness of commercial arbitration system in the nation. Research Methodology The research will undertake a combination of three specific approaches or methods. The first is the “
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Provisional title and brief summary of proposal The provisional title of the paper can be “A Critical overview of the enforcement of foreign arbitral awards in Saudi Arabia”. The aim of the dissertation will be to understand the limitations in enforcement of foreign arbitral awards for settlement of commercial disputes in Saudi Arabia, keeping in mind the conventions and prerequisites for the process involved…
Foreign Direct Investment (FDI) inflows is a significant source of economic development in developing economies such as Saudi Arabia. FDI inflows not only provide a source of capital, but it also involves the transfer of technologies, human capital and opens up market access opportunities with respect to goods and services.
A Critical Analysis of the Government’s Strategies for Attracting Foreign Direct Investment in Saudi Arabia Abstract Saudi Arabia’s Foreign Direct Investment (FDI) performance has been characterised as significant, but does not live up to the Kingdom’s full potential (UNCTAD, 2004).
ground of Saudi Arbitration Law The ARAMCO Award Current Position on the Enforceability of International Arbitration Chapter 4 :The Impact of Public Policy in the Enforcement of Foreign Arbitral Awards Public Policy under the Shari’a Law Interest Gharar Saudi Arabian Public Policy and NYC Analysis of Award can be Resisted on the Basis of Public Policy Award Rendered by Non-Muslim Arbitrators Conclusion Chapter 5: Complications in the Saudi Legal Systems & Foreign Arbitration Background of Saudi Legal Structures Insufficient Laws Concerning the Legal Environment The Practical Side of the Enforcement of Foreign Arbitral Awards in Saudi Arabia (Cases and Principles) Conclusion Chapter 6: Compa
Undoubtedly, this has given a rise in FDI volume and was accompanied by a considerable change in its composition. It has been noticed that in the countries, particularly undertaking privatisation of various public enterprises, investments in the form of mergers and acquisitions have experienced a rapid growth than those investments in the new Greenfield investments.
The aims and objectives of the dissertation have been given along with the hypothesis. Moreover, the methodology used to conduct the research is detailed. Lastly the whole structure of the report is defined so that the reader has an understanding of the flow of the dissertation.
A Gantt chart detailing the Work Plan is also included. 2.0 Statement of the Problem Foreign arbitration or the foreign arbitral awards is critical in the effective governance of the global system. It is crucial in the international legal system since it provides international bodies the legitimacy and authority to enforce rules and mechanisms that effectively resolve inter-state differences.
Abstract This dissertation is an inquiry into the differences existing between international commercial arbitration and arbitration pursuant to Sharia law as it is practiced in the Kingdom of Saudi Arabia. The substantial and procedural disparities between the two have in the past constrained the participation of Islamic countries in the global economy, limiting their potential for speedier progress and conversely creating barriers in trade and exchange between them and other countries.
The various arbitration conventions available are efficient and offer different approaches to solving disputes, particularly in an increasingly integrated global system. This study aims to describe arbitration and arbitral enforcement in Saudi Arabia. The country has established historical and legal foundations for this dispute settlement mechanism, which are the Arbitration Law of 1983 and the Rules for the Implementation of Saudi Arabian Arbitration Regulation decreed in 1985.
The principles according to which some Islamic schools abide by are incompatible with the practices of international arbitration; however, there are other Islamic schools whose interpretations are consistent with the international practices, which are permissible for Muslims to follow or adopt.2 Arbitration as a contemporary legal system for settling international disputes was relatively recently introduced in the Islamic world, most of which had dealt with oil disputes.3 For many years and in some cases until today, countries in the Arab region which operate under Islamic rule have not fully developed a legal system implementing arbitration, leaving the general impression that the courts in
As the study highlights the conflict theory discusses on how certain interactions take place through conflict. People are involved in conflict to acquire more and more power. The social gap between these two sectors of the society can never be eliminated. Money is an effective mechanism which is responsible for this unending conflict between rich and poor.
9 pages (2250 words)Essay
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