Given a considerable surge in Covid-19 cases, International Islamic Centre for Reconciliation and Arbitration (IICRA) has held virtually its administrative meeting represented by 26th Executive Committee meeting, 29th Board of Trustees meeting, and 14th General Assembly meeting, on Wednesday dated 30th of December 2020 corresponding to 14 Joumada Al Oula 1442 H.
The Chairman of the Board of Trustees Professor Jasim Ali Alshamsi welcomed all IICRA members and highlighted the importance of their participation in IICRA Administrative Meeting 2020. The Executive Committee Meeting started and was chaired by Mr. Imad Al-Din Al-Fateh, representative of the Islamic Development Bank followed by Professor Jasim Ali Alshamsi who chaired the Board of Trustees Meeting and General Assembly Meeting respectively, in the presence of the Ministry of Finance representative in the United Arab Emirates (the host country of the headquarter of IICRA) Mr. Yousuf Mohammed bin Hajar in his capacity as Deputy Director of International Financial Relations and Organisations.
The Chief Executive Officer of IICRA, Mr. Rami Sulaiman Ibrahim, thereafter has submitted the annually report of IICRA activities and also presented the work plans for the year 2021 such as the launching of e-services to settle the disputes through institutional reconciliation and arbitration in a manner that does not contradict the provisions of Islamic Shari’ah.
The challenges that IICRA is currently going through, have minutely been discussed in the presence of all IICRA members including the impact of Covid-19 pandemic on Alternative Dispute Resolution (ADR) as well as the latest developments in IICRA Arbitration and Reconciliation Rules and its Agreements. The members of the Board of Trustees and General Assembly praised the efforts of executive management for its achievements and calling on all IICRA members to continue their unyielding support for IICRA as it has become one of the most important infrastructure institutions in the Islamic financial industry.