DIFC Courts solidifies its position as the leading English language dispute resolution forum in the region – Business – Economy and Finance

The Dubai International Financial Centre (DIFC) Courts have released their annual figures for the full year of 2023, showcasing significant achievements and growth in their operations. The English-language, common law judiciary has continued to grow and establish itself as a preferred forum for resolving disputes for global businesses, SMEs, and individuals.

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, highlighted the international nature of the DIFC Courts’ caseload, indicating that international businesses with interests in the Middle East region view Dubai and the DIFC Courts as their first choice for dispute resolution. This reflects the success of the DIFC Courts in aligning with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to position Dubai as a leading financial hub with global standards in judicial dispute resolution.

In 2023, the main Court of First Instance (CFI) of the DIFC Courts handled 111 cases with a total case value of AED16.5 billion. The average case value across CFI cases was AED228.8 million, demonstrating the significance and complexity of the disputes being resolved. The Arbitration Division of the DIFC Courts also saw a total case value of AED13.4 billion, with an average case value of AED955.2 million.

The cases brought before the CFI covered various sectors such as banking and finance, real estate, retail, and manufacturing, involving disputes related to breach of contract, insolvency, arbitration agreements, and employment. The enforcement claims filed in 2023 totaled 325, reinforcing the Courts’ reputation for providing certainty and enforceable judgments for businesses.

The Small Claims Tribunal (SCT) of the DIFC Courts recorded 522 cases in 2023, primarily related to disputes in breach of contract, property and tenancy, employment, and banking and finance. The total value of claims in the SCT reached AED52 million, indicating its increasing popularity for SME-related dispute resolution. The average case value at the SCT in 2023 was AED105,000, reflecting a 9% increase from the previous year.

Zaki Azmi, Chief Justice of the DIFC Courts, expressed pride in the Courts’ performance in 2023, noting increases in both the volume and value of cases as a testament to the trust placed in the forum for resolving diverse disputes. The strategic partnerships forged by the DIFC Courts with Dubai Chambers and Ras Al Khaimah Digital Assets Oasis (RAK DAO) aim to support Dubai and the UAE’s economic ambitions and enhance awareness of the Courts’ digital economy services.

The surge in registrations of Wills through the Wills Service in 2023, with over 1,500 Wills registered, signifies a 26% increase from the previous year. Additionally, the total number of Probate applications related to Wills rose by 21% in 2023, demonstrating the growing demand for ancillary services offered by the DIFC Courts.

Overall, the DIFC Courts’ achievements in 2023 reflect their commitment to providing efficient and transparent dispute resolution services in line with the UAE’s economic goals and the vision of Dubai’s leadership. The continued growth and success of the Courts position them as a key player in the global financial and legal landscape.