The Euro-Med Economic Banking Summit 2023
For a Sustainable Euro – Mediterranean Economic Relationship
24 – 25 May, 2023 Peninsula Hotel Paris – France
The use of Arbitration & ADRs to provide efficient and innovative access to justice in the international banking and trade sectors
26th of May, 2023 International Chamber of Commerce (ICC) Premises Paris – France
The globe is facing an unprecedented combination of geopolitical tensions, market segmentation, high inflation (in particular energy and food prices), intensifying climate risks, food insecurity, anticipated recession, and mounting public debts. These developments pose considerable risks with long-term repercussions for developing and developed economies and will shape the future of the socio-economic landscape and relationships in the near future.
The Euro-Mediterranean region is in fact at the epicenter of those global challenges, mainly regarding energy and food security risks, and climate change, in addition to economic growth, sovereign debt, and social development.
The repercussions of those events are widely spread across countries and regions, and cannot be confronted by countries individually, and solving them could be beyond the capabilities of many countries on both sides of the Mediterranean.
This calls for boosting cooperation between Euro-Mediterranean countries, where it has become crucial for them to pave the way for more sustainable collaboration in order to co-face these challenges and harmonies their policies that pour eventually into achieving energy and food security in the region, facilitate trade, investment and capital between its northern and southern parts, and partnering in climate-related projects.
In parallel, the development and increased complexity of financial and banking operations and relationships, and the mounting reliance on digitalization and the fast digital transformation, all are giving more importance to Arbitration as an alternative means to solve financial and banking disputes in the era of the digital economy.
Therefore, and to cover the above topics, the Union of Arab Banks aims to organize the Euro-Med Economic and Banking Summit 2023, under the title “For a Sustainable Euro-Mediterranean Economic Relationship”, in Paris – France, on May 25, 2023, to represent a high-level platform that gathers the Euro-Mediterranean economic, financial, and banking decision makers to discuss the means to draw a roadmap for achieving a sustainable relationship that helps the region to alleviate the repercussions of the increasing common challenges.
Moreover, the Union of Arab Banks in collaboration with the International Chamber of Commerce will organize, on May 26, 2023, a forum entitled “The Use of Arbitration and ADRs to provide efficient and innovative access to Justice in the international banking and trade sectors”, at the headquarters of the International Chamber of Commerce, Paris, to discuss the relevance of arbitration in resolving disputes arising in the financial sector in the era of digitalization, mainly regarding smart contracts, automated commerce, artificial intelligence, cybersecurity, and Blockchain technology.
UAB-ICC JOINT CONFERENCE
26th of May, 2023 International Chamber of Commerce (ICC) Premises Paris – France
الخلفية:
The Union of Arab Banks and the International Chamber of Commerce will collaborate on organizing an Arbitration Conference titled:
“The Use of Arbitration and ADRs to provide efficient and innovative access to Justice in the international banking and trade sectors”
Which will coincide with the last day of the International Arab Banking Summit on May 26th, 2023.
The conference will take place at the headquarters of the International Chamber of Commerce in Paris, and it aims to reduce the traditional perception of financial institutions being hesitant to use arbitration to resolve disputes in the banking and financial sectors, especially after it has gained significant importance in resolving financial and banking disputes, particularly in recent times.
It will address the use of arbitration as a means of resolving disputes that may arise in the context of Islamic finance, it will also explore the effectiveness of arbitration as an alternative dispute resolution mechanism for dealing with such disputes.
It will also focus on arbitration and discuss its suitability for resolving issues arising in the digitized financial sector, such as smart contracts, automated trading, artificial intelligence, cyber security, and blockchain technology.
This conference represents the first step towards cooperation between the Union of Arab Banks and the International Chamber of Commerce in the field of banking and commercial arbitration. Additionally, it seeks to enhance legal dialogue between Arab and European nations and provide a platform to discuss the latest arbitration legislation both regionally and internationally.
