Institutional Membership

"IICRA membership spans more than 70 regional and international Islamic financial institutions including the largest Islamic banks, finance, insurance companies and businessmen supporting the Islamic Economy. The membership supports IICRA to achieve its objective to be the ideal global platform in resolving financial disputes with compliance of Islamic Sharia Law."


Advantages:

IICRA offers many advantages to its members summarized as follows:

  1. The Membership of IICRA shall grant the right to attend the meetings of the General Assembly of the Institution and to vote for the decisions by made that Assembly as the supreme authority in IICRA in accordance with the power set forth in Article 5, paragraph (c) of the IICRA rules.
  2. IICRA offers free training courses for the professional members which help them develop and enrich their legal expertise. Members can also enjoy special discount on the fees of specific events organized by the IICRA periodically.
  3. IICRA provides information through publications on arbitration in general and on the latest arbitration decisions sent to the members to help in consolidating and forming the contracts and their terms. This will avoid many future disputes and eliminate many of the uncertainties that might be expected in the future. Members will benefit from receiving such publications without any obligation to pay any fees.
  4. IICRA provides its services in writing and drafting of contracts and agreements that the parties wish to be compatible with along with the provisions of Islamic Sharia Law and that too in a manner which ensures of proper contracts structure preceded by discreet examination and review by the competent bodies of the institution. IICRA may also provide a service for the review of previous contracts and amend them in case the parties’ desire. The average fee is applied to the formation, review and examination of contracts under the provisions of Islamic Sharia Law on the members of the institution.
  5. IICRA offers its members the opportunity to host the meeting in its headquarters located in the heart of Dubai, United Arab Emirates without any rental fees for meeting rooms or procedural expenses.
  6. Members may also submit requests to IICRA for legal assistance to study and audit, provided that the applications submitted must include the objectives of IICRA.
  7. IICRA offers free subscription to its members in a semi-annual magazine issued by the institution and also free publications issued by IICRA on the latest arbitration decisions and updates.

Conditions:

  1. Membership is available to all financial, commercial, industrial, banking and investment institutions globally wishing to support Islamic economy and work within its framework.
  2. Membership is a contribution and support for IICRA activities in legal and arbitral fields and however it does not have any privileges for its members.
  3. The acceptance of membership application is subject to the prior approval of IICRA Board of Trustees.