|September 11, 2012|
Previously published on September 2012
On April 16, 2012, a new Saudi arbitration law was issued by Royal Decree No. M/34 and subsequently approved by the Bureau of Experts at the Council of Ministers in the Kingdom of Saudi Arabia. The new law, which came into force 30 days after its publication in the Official Gazette on June 8, 2012, replaced the previous arbitration law issued by Royal Decree No. M/46 on April 25, 1983 and supplemented by an Executive Regulation dated June 22, 1987. While the new arbitration law is also likely to be supplemented by an Executive Regulation, it is already significant in that it represents a more comprehensive and independent approach to arbitration than has previously existed in the Kingdom.