The Dubai International Financial Centre (DIFC) Courts have released their figures for the first six months of 2024, reflecting continued growth in case numbers for the region’s premier forum for English-language dispute resolution. Additionally, there has been an increased uptake of ancillary services, such as the tejouri digital vault service, as Dubai’s paperless mandate drives demand for secure digital storage of administrative documentation.
Strong financial performance
The total value of cases across all divisions in the first half of 2024 was AED1.05 billion ($285.86 million), with 480 cases filed. In the main Court of First Instance (CFI), 57 cases were filed, with a total value of AED1.02 billion and an average case value of AED39.3 million.
Commitment to innovation and efficiency
Justice Omar Al Mheiri, director of the DIFC Courts, stated, “Following a record year for the DIFC Courts in 2023, we have continued to see strong uptake of core and ancillary services for the first six months of 2024. We are committed to further research and development of innovative, efficient, and cost-effective mechanisms to assist our court users, while maintaining judicial excellence through case management and our skilled bench of judges.”
Contributing to UAE’s global competitiveness
The UAE’s recent top-ten global competitiveness ranking is a testament to the dynamism of the shared economy, with the report specifically noting the UAE’s effective dispute resolution mechanisms as an essential underpinning of its economic segments. As the DIFC reflects on its 20-year anniversary in 2024, the DIFC Courts remain confident that their mandate continues to enable businesses to flourish and people to interact in a stable and predictable environment, supporting federal and local strategic goals.
Diverse sectoral representation
Claims brought before the CFI involved a wide range of sectors, including banking, finance, real estate, construction, manufacturing, retail, intellectual property, and pharmaceuticals, with disputes related to breach of contract, employment, and outstanding payments.
Read more: Dubai launches new mixed-use development project ‘DIFC Square’
Strong performance in small claims tribunal
The Small Claims Tribunal (SCT) also saw strong operational capacity, with 265 claims filed, totaling AED27.2 million, and an average claim value of AED109,000. Claims were driven primarily by disputes involving breach of contract, employment, and property/tenancy.
Embracing digital transformation
Reinforcing increased efficiency through its digital and paperless strategy, the DIFC Courts issued 100 percent of Orders and Judgments digitally, with 913 Orders and 85 Judgments in the first six months of 2024. Additionally, 96 percent of hearings in the CFI were conducted remotely, while the SCT and Court of Appeal recorded 100 percent and 75 percent remote hearings, respectively.
Wills service and tejouri digital vault
The Wills Service, established in 2015 through a partnership between the DIFC Courts and the Government of Dubai, registered 810 Wills in the first half of 2024, a 6 percent increase compared to the same period in 2023, and issued 9 Probate orders. Since its inception, the Wills Service has registered over 11,000 Wills.
The tejouri digital vault service, launched in 2022, has recorded a over 20 percent increase in the number of registered digital vaults in the first half of 2024. tejouri provides a secure platform for storing and transmitting life admin files, utilizing advanced cryptography and Distributed Ledger Technology.
Sustainability initiatives
In recognition of its commitment to sustainability, the DIFC Courts were awarded the Green Certificate by Moro Hub, a subsidiary of Digital DEWA, for adopting Moro Hub’s Green Cloud in 2023 to meet its expanding digital infrastructure needs.
Jurisdictional clarity, international cooperation
In April 2024, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, issued Decree No. (29) of 2024 on the ‘Judicial Authority for Resolving Jurisdictional Conflicts between DIFC Courts and Judicial Authorities in the Emirate of Dubai’. The new Rules and Procedures from the Tribunal are expected to provide further clarity to court users.
Additionally, in May 2024, the DIFC Courts cemented relations with The Law Society of Hong Kong through a cooperation agreement, aimed at fostering investor confidence and facilitating access to justice between the two leading common law institutions and financial centers.
For more economy news, click here.
