Dubai is setting up a dedicated court to handle commercial disputes in the digital economy, according to His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and President of the Dubai International Financial Centre (DIFC).
The new court will focus on dispute resolution in “complex technical fields” and is part of the strategy to strengthen Dubai’s position as the world’s leading destination for businesses.
“Today, within the Dubai Financial Centre courts, we launched a court specialised in the digital economy to deal with commercial disputes in complex technical fields,” the deputy ruler of Dubai said on Twitter.
The digital economy has exploded since the onset of the coronavirus pandemic. Driven primarily by a shift in consumer behaviour, e-commerce spending has skyrocketed, nearing $5 trillion in 2021 and expected to reach around $6.4 trillion by 2024.
Within the Middle East, Visa estimated that the e-commerce market size will reach $48.6 billion next year, up from $26.9 billion in 2018.
(Reporting by Cleofe Maceda; editing by Daniel Luiz)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021