The Dubai International Financial Centre (DIFC) Courts: A Specialised Commercial Court in the Middle East

13 Pages Posted: 23 Sep 2018

See all articles by Harold Koster

Harold Koster

Erasmus University Rotterdam; University of Dubai; Government of the Netherlands - Court of Appeal

Mark Beer Obe

Dubai International Financial Centre

Date Written: January 22, 2018

Abstract

The Dubai International Financial Centre came into existence in 2004 and has since developed into a world class financial centre. Established in order to attract foreign investment and to make Dubai an international hub for commercial and financial transactions, the DIFC is an independent jurisdiction under the UAE Constitution, with its own civil and commercial laws, mostly based on common law. The DIFC Laws are modelled on the best practices of the world’s major financial jurisdictions and embody the best of international financial and commercial law. DIFC’s laws and regulations are developed and administered by the Dubai International Financial Centre Authority (DIFCA) and the Dubai Financial Services Authority (DFSA) and are written in English. Importantly, the DIFC has also its own Courts, the Dubai International Financial Centre (DIFC) Courts: a specialised commercial court in the Middle East operating exclusively in English and based on common-law principles. In this article, we will discuss and analyse the function of the DIFC Courts.

Keywords: DIFC Courts; Dubai; UAE

JEL Classification: K

Suggested Citation

Koster, Harold and Obe, Mark Beer, The Dubai International Financial Centre (DIFC) Courts: A Specialised Commercial Court in the Middle East (January 22, 2018). Available at SSRN: https://ssrn.com/abstract=3237126 or http://dx.doi.org/10.2139/ssrn.3237126

Harold Koster (Contact Author)

Erasmus University Rotterdam ( email )

3000 DR Rotterdam
Netherlands

University of Dubai ( email )

AL MAKTOOM STREET
Dubai, 14143
United Arab Emirates

Government of the Netherlands - Court of Appeal ( email )

Amsterdam
Netherlands

Mark Beer Obe

Dubai International Financial Centre

Gate Building Level 14th
Sheikh Zayed Road
Dubai
United Arab Emirates

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