The i-Arbitration Rules 2017 (the “i-Rules”) which came into effect on 9thJune 2017 are a set of rules which are designed to effectively cater to the ever-growing needs and demands of commercial transactions premised on Islamic principles.
The i-Rules provides a certain and predictable legal framework to solving disputes from contracts involving Shariah principles, allowing parties the autonomy and flexibility of international commercial arbitration. The i-Rules are an innovative effort aiming to resolve disputes arising from any contract that contains Shariah (Islamic Law) issues. The i-Arbitration Rules first drew international recognition in 2012 after receiving the prestigious Global Arbitration Review Award for ‘Innovation by An Individual or Organisation’ where the i-Arbitration Rules was lauded as the first set of arbitration rules in the world that catered exclusively to the resolution of disputes arising from commercial contracts containing Shariah issues. The most striking feature of the Rules is the clear platform it sets for Islamic and non-Islamic parties to a dispute enabling them to arbitrate a Shariah complaint agreement under a non-Muslim tribunal and yet provide for the determination of the Shariah principles involved. Parties also enjoy the administrative services and benefits offered by AIAC as the administrator of disputes under the i-Rules. These rules are also offered in multiple languages to accommodate international parties, and are a helpful addition to the dispute resolution options available to parties.With the Centre’s transformation to the Asian International Arbitration Centre in 2018 and driven by an Asian-International market, amendments to the i-Arbitration Rules will follow suit. These amendments will ensure that the integrity of the core principles subscribed to in the i-Arbitration Rules and the modalities and nuances of Shariah Law are maintained whilst continuous efforts are undertaken to extend our reach beyond South East Asia.