New Saudi Arbitration Centre Signals the Rise of a New Regional and Global Arbitration Hub

Analysis

It is common knowledge that the Kingdom of Saudi Arabia is the largest economy in the Arabian Gulf and has the second largest proven oil reserves in the world. It is less well-known that, in recent years, the Kingdom has developed an advanced arbitration system-starting with the 2012 Arbitration Law based on the UNCITRAL Model Law and now the publication of world-standard arbitration rules by the Saudi Centre for Commercial Arbitration (SCCA). Such developments put the Kingdom on a direct path to becoming a regional and global arbitration hub-including the seat of choice for the many Saudi disputes that, historically, have been determined by other local and international dispute resolution fora.

The context