The Organisation of Islamic Cooperation Arbitration Centre (OIC-AC) is pleased to inform of entering into the Memorandum of Understanding (MoU) with the Russian Institution of Modern Arbitration (RIMA).
The Russian Arbitration Center (RAC) is a subdivision of RIMA, whose activities are aimed at developing and popularising arbitration in Russia, as well as increasing the attractiveness of Russian jurisdiction as a place of doing business and a place for resolving civil disputes. Established in 2017, RAC is one of the leading arbitral institutions in Russia, which administers arbitration proceedings involving parties and arbitrators from all around the globe. RAC performs a wide range of functions, including administration of domestic and international arbitration; administration of arbitration of corporate disputes; assistance to ad-hoc arbitration; support for mediation, and other alternative dispute resolution methods.
In the MoU, the OIC-AC and RIMA agreed, among other things, to develop ADR methods and to promote a culture of arbitration by cooperating between the institutions.
Dr. Alper Çağrı Yılmaz, Acting Secretary-General, and Yulia Mullina, the RIMA General Director participated in the MoU signing.
