by Saud Al-Ammari and Tim Martin
The Kingdom of Saudi Arabia changed its arbitration law earlier in 2012 with the enactment of its New Arbitration Law 1433H (2012G) (the New Arbitration Law). On April 9, 2012, the Council of Ministers approved the New Arbitration Law and a Royal Decree on the law was issued on April 16, 2012. On Friday, June 8, 2012, the law was published in the official gazette (Um Al-Qura). In accordance with Article 58 of the New Arbitration Law, the law came into force after 30 days from the date of its publication, which was July 9, 2012, corresponding to 19 Sha’baan 1433H. The prior law was the Arbitration Law dated 1403H (1982G) (the Old Arbitration Law). The local business community used the Old Arbitration Law infrequently and multinational companies avoided it because it was seen as difficult and inefficient in resolving business disputes within the country. [Read more…]