OIC-AC Unveils its Mediation Rules to Bolster Global Dispute Resolution
Ankara, August 9, 2024 – In a significant stride towards enhancing international dispute resolution, the Organization of Islamic Cooperation Arbitration Centre (OIC-AC) convened its fifth Board of Directors meeting to discuss various proposals on August 9, 2024. Presided over by the President of the Board, Mr. Rifat Hisarcıklıoğlu, the meeting concluded with the unanimous adoption of the “OIC-AC Mediation Rules” along with several other significant initiatives. This pivotal gathering, held in Ankara, was attended by the Vice President of the Board, Dr. Yousef Khalawi, esteemed Board Members Mr. Adil Sani Konukoğlu, Dr. Ibrahim Nihat Bayar, Mr. Mohamed Ridza Bin Mohamed Abdulla, Dr. Fayyad Melfi Aqil Al-Qudah, and key Secretariat officials.
The newly ratified Mediation Rules are poised to transform the landscape of investor-state and commercial dispute settlement. With provisions that enhance the cross-border enforceability of settlement agreements, the OIC-AC is setting a new standard for global mediation practices. This development is anticipated to encourage a greater number of parties to engage in mediation as a means to amicably resolve disputes.
This landmark decision follows the publication of the “OIC-AC Arbitration Rules” in October 2023, further cementing the OIC-AC’s commitment to establishing a comprehensive legal infrastructure for arbitration and mediation. The newly ratified Mediation Rules are expected to complement the existing Arbitration Rules, creating a cohesive and efficient system for international dispute resolution.
In addition to the Mediation Rules, the meeting also spotlighted other pivotal initiatives, such as the adoption of a comprehensive list of arbitrators. This list, which encompasses experts from most of the OIC member countries and other leading arbitrators, stands as a testament to the OIC-AC’s dedication to diversity and inclusivity in the field of arbitration. The list is readily available upon request, offering parties a wealth of choices to ensure fair and impartial arbitration proceedings.
The OIC-AC’s efforts reflect a deep understanding of the complexities of international disputes and a steadfast dedication to fostering a climate of fairness and neutrality. By offering robust tools and resources, the OIC-AC is not only enhancing the efficacy of dispute resolution but also contributing to the stability and predictability that are essential for international trade and commerce.
As the OIC-AC continues to innovate and lead in the realm of investor-state dispute settlement and international commercial dispute resolution, it remains a beacon of hope for those seeking justice in international trade relations. The Mediation Rules are more than a set of guidelines; they are a promise of a more harmonious future for global commercial relations.
ABOUT OIC-AC
The Organisation of Islamic Cooperation Arbitration Centre (OIC-AC) is an international alternative dispute resolution (ADR) Centre. It was established pursuant to its Statute and the Host Country Agreement between Türkiye and the Islamic Chamber of Commerce, Industry, and Agriculture (ICCIA) of the OIC.
OIC-AC, headquartered in Istanbul, aims to assist the parties, i.e., natural, and legal persons from the Member States of the OIC and Non-OIC States, to settle commercial and investment disputes through arbitration and other methods of ADR. To this extent, it has global jurisdiction.
The vision of OIC-AC is to pioneer global economic development by becoming a thought leader and the foremost global centre for ADR in commercial and investment disputes.
The main organs of OIC-AC are the Board of Trustees, the Board of Directors, the Secretariat, and the International Supervisory Board.
