The UAE Ministry of Economy has released a draft of the Federal Arbitration Law for consultation, which, replacing the provisions of the Civil Procedure Code regarding arbitration, is likely to be enacted within a year, with minor amendments and absent strong objections.
The scope of this proposed law is quite wide, covering arbitrations governed by UAE procedural law as well as rules of the arbitral centre under which arbitration is being conducted. UAE has, as yet, not adopted the UNCITRAL Model Law on International Commercial Arbitration and the draft law is largely based on the Egyptian arbitration law.
