TAHKEEM, Sharjah Media City sign cooperation agreement

The Sharjah International Commercial Arbitration Centre, TAHKEEM, has concluded a cooperation agreement with Sharjah Media City, Shams, under which TAHKEEM shall provide dispute resolution services through commercial arbitration for free-zone companies and institutions registered in the media city.

The agreement was signed by Abdulla Deaifis, Chairman of the Executive Committee of the Sharjah International Commercial Arbitration Centre and Dr. Khalid Omar Al Midfa, Chairman of Sharjah Media City, in the presence of Sheikh Sultan bin Ahmed Al Qasimi, Chairman of the Sharjah Media Council; Abdullah Sultan Al Owais, Board Chairman of Sharjah Chamber of Commerce and Industry; and a number of officials and executives from both sides.

The signing of the agreement comes within the framework of the two parties' keenness to strengthen their partnership relations, ensure mutual coordination and integration and consolidate their joint efforts to serve their clients with the ultimate goal of ensuring sustainable progress and prosperity for the emirate of Sharjah and its business sector.

Commenting on the signing, Abdulla Deaifis said, "Since TAHKEEM's establishment, we have been endeavouring to develop its mechanism, rules and executive regulations in a way that meets aspirations of all types of public and private sector companies and to enhance the expertise and skills of our registered arbitrators in order to consistently advance the centre's services to a higher level of professionalism and practical quality with the aim of optimising the performance of various business sectors in the emirate and the entire country."

"We are delighted to sign this first-of-its-kind agreement with Sharjah Media City, which is one of the most important free zones in the emirate that incorporates a wide range of companies and institutions. Shams is a business incubator for several business disciplines and fields which require a legal entity that ensures their confidence in the commercial and business environment of Sharjah, and serves as an arbitral reference in the event of disputes, in emulation of developed world cities," he added.

Dr. Al Midfa said, "We are pleased to have an arbitration centre present with us in the media city, in such a grand legal form that emphasises the importance and status of the centre and its role. We are aware of TAHKEEM’s advanced levels of expertise, efficiency and knowledge in various legal fields, including dispute settlement services through commercial arbitration. Therefore, we wholeheartedly believe in the credibility of TAHKEEM's roles and efforts in managing the legal issues of the companies and institutions registered in Shams."

He added, "Shams always strives to select its partners based on prior knowledge and firm confidence in their capabilities, reflecting the importance of joint work and cooperation to ensure that the aspired success and contribute to achieving qualitative additions to the emirate of Sharjah in various sectors, such as media investment.

"Sharjah Media City is a new model in the world of free zones, where different needs of media and investment professionals are sufficiently and professionally met and fulfilled. As a global innovation centre, Shams represents a transformation in the concept of free zones and provides integrated services through smart, innovative systems in all its transactions. This is in order to streamline business for dealers, including individuals and institutions, by relying on innovative concepts at work, in terms of speed, performance and management."

TAHKEEM will conduct awareness campaigns, including several joint meetings, workshops and conferences on the legal aspects of dispute settlement and resolution processes for all companies and institutions registered with Shams, along with providing print and electronic material and collaterals on the definition and nature of arbitration.