UAE: Ras Al Khaimah Courts (RAK Courts) and Abu Dhabi Global Market Courts (ADGM Courts) entered into an agreement today to collaborate on efforts and initiatives that enhance the legal and judicial services and uphold the high judicial standards in the United Arab Emirates (UAE).  The Memorandum of Understanding (MoU) was signed by H.E Chancellor Ahmed Mohammed Al-Khattari, Chairman of Ras Al Khaimah Courts Department and Ahmed Ali Al Sayegh, Chairman of Abu Dhabi Global Market and Lord Hope of Craighead KT, Chief Justice of ADGM Courts.

RAK Courts and ADGM Courts share a mutual goal and commitment to developing and maintaining innovative, effective and internationally-aligned judicial services that ensure timely, impartial and transparent justice to litigants and courts users in the UAE.   The MoU will enable both Courts to develop and implement effective procedures for the reciprocal enforcement of judgments, decisions and orders, including arbitral awards respectively ratified or recognised by either Court. As part of the collaboration, ADGM Courts and RAK Courts will explore innovative solutions and technology to offer electronic court case management, electronic sharing of relevant and vital information and research, and to deliver improved court services to litigants and court users

Among others, the MoU also formalises the arrangement for sharing of expertise and best practices in legal and judicial matters for the development of their respective procedures, operations and services.  The new partnership will also allow RAK Courts and ADGM Courts to discuss potential related matters and decisions in cross-jurisdictional civil and commercial disputes.

H.E Chancellor Ahmed Mohammed Al-Khattari, Chairman of Ras Al Khaimah Courts Department, said: “I am delighted to sign an important agreement between the courts of Ras Al Khaimah Courts and the ADGM Courts because Abu Dhabi is a world-class investment center that attracts many mega-corporations, and support the integrated and co-related economic activities in the UAE. The agreement will further safeguard and reinforce the confidence of investors and businessmen in the judicial and administrative expertise from both Courts, as well as, enable ease of implementation of judgments and judicial declarations.  We wish this MoU will benefit the industry and everyone in the community.”

Lord Hope of Craighead KT, Chief Justice of ADGM Courts said: “We are glad to deepen our relationship with RAK Courts through this new partnership. This marks another significant milestone in the development and governance of the UAE’s judicial ecosystem. ADGM Courts believes that greater collaboration and judicial cooperation with like-minded partners will serve to fortify the local and global community’s confidence in the UAE judicial system and in turn, bolster the growth of the economy through more business and trade.” 

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About Abu Dhabi Global Market 
Abu Dhabi Global Market (ADGM), an international financial centre located in the capital city of the United Arab Emirates, opened for business on 21st October 2015.  In keeping with the Abu Dhabi’s Economic Vision, ADGM is a natural extension of Abu Dhabi’s role as a reliable and responsible member of the global financial community. Strategically situated in Abu Dhabi, home to one of the world’s largest sovereign wealth funds, ADGM plays a pivotal role in positioning Abu Dhabi as a global centre for business and finance that connects the growing economies of the Middle East, Africa and South Asia.

ADGM’s three independent authorities, the Registration Authority, the Financial Services Regulatory Authority and the ADGM Courts, enable registered companies to conduct business in a zero-percent tax environment and operate with confidence within an international regulatory framework with its own independent judicial system and legislative infrastructure based on the Common Law.

Established by a UAE Federal Decree as a broad based financial centre, ADGM’s foundation is anchored on three of Abu Dhabi’s strategic strengths - private banking, wealth management and asset management and will continually expand its financial services in response to the needs of its businesses and marketplace.

ADGM is located on Al Maryah Island, a 114-hectare development that is home to world-class business and lifestyle facilities such as the Rosewood and Four Seasons Hotels and Residences, the first ever specialty Cleveland Clinic Hospital outside of USA, luxury retail at the Galleria Mall, and grade-A offices spaces to meet Abu Dhabi’s long-term development and economic needs. All these complement ADGM’s international financial centre position as a vibrant destination in the capital city in Abu Dhabi. For more details of ADGM, please visit www.adgm.com  or follow us on Twitter : @adglobalmarket and Linked : ADGM

© Press Release 2017