UAE’s draft Arbitration Law approved

The Federal National Council of the United Arab Emirates has approved a draft Arbitration Law. According to the state news agency WAM, the draft law outlines, “The provisions of the law will apply to all arbitrations within the country, as long as the parties agree on not being subject to another arbitration law, and on condition that it should not contradict with the country’s public order and morals and any international commercial arbitration. The parties must agree to be subject to the provisions of the law and any arbitration that arise from conflicts in legal contractual or non-contractual relationships specified by the country’s laws, except if exempted by a specific article.” The law is expected to be enacted in the second half of this year.