Dubai Courts has established a law enforcement committee for its financial markets and two new courts within its Commercial Court to quickly resolve the disputes related to securities.
According to the statement, the new courts will focus on dispute resolution in securities, shares, bonds, and other such financial instruments.
Th launch of initiative is intended to strengthen systems for ensuring the timely delivery of justice in the financial industry, as well as to help Dubai’s court system boost its reputation in the worldwide commercial judicial community.
“The establishment of the new courts supports His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai’s directives to introduce new initiatives to support the emirate’s efforts to achieve greater success and excellence in a new phase of growth. The announcement also reflects Dubai Courts’ commitment to constantly enhance the judicial system and ensure high levels of accuracy and speed in delivering justice, which are key to protecting the rights of litigants and enhancing the trust of investors.”
Mr. Khalid Obeid Al Mansouri, Chief judge of the Commercial Court at Dubai Courts said, “The establishment of the new courts reflects Dubai Courts’ efforts to raise the speed and efficiency of dispute resolution, enhance the protection of investors and participants in the financial market and accelerate the market’s development.”
The chief judge remarked that the new courts will feature a remote litigation system that supports Dubai Courts’ aims of transforming itself into a smart judicial system. The courts will introduce an interactive technology-based system that can be easily used by all parties including judges, advocates, experts and litigants.
The smart system will cover all stages of legal processes, starting with the submission of a request. It will also enable users to attach supporting documents and reports, sign with digital signatures and verify the identity of persons involved in hearings and remote legal proceedings. In addition, the remote system can be used to manage all internal procedures and facilitate case management and remote judgments.
The judges and relevant departments can use the online system to track cases, make judgements, and enforce rulings at any time. Mr. Al Mansouri further noted that “Dubai Courts will continue to deploy innovative smart tools and technologies to enhance the judicial process.”