His Majesty approves creation of arbitration centre
BANDAR SERI BEGAWAN
HIS Majesty Sultan Haji Hassanal Bolkiah Mui’zzaddin Waddaulah, the Sultan and Yang Di-Pertuan of Brunei Darussalam, has approved the establishment of Brunei Darussalam Arbitration Centre, the Prime Minister’s Office (PMO) announced yesterday.
The centre will promote the adoption of arbitration and mediation services in resolving commercial issues and disputes as a speedier alternative to the usual settlement through civil proceedings in court, the PMO said in statement.
It added that the centre is established to provide arbitration facilities as well as administrative services and mediation to meet the needs of domestic and international consumers. The centre is an independent and non-profit centre with a broad mandate necessary to administer domestic and international arbitration in Brunei Darussalam.
It will also have its own board of directors and will be located on the 8th Floor of the Brunei Economic Development Board headquarters on Jalan Kumbang Pasang, the statement added.
The Brunei Times