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His Highness Sheikh Mohammed bin Saud Bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah and Chairman of the Judicial Council "Financial Tribunal", is a unique and unprecedented global initiative.
In accordance with Law No. 8 of 2018 on the establishment of the Court of Finance as an optional jurisdiction specializing in the settlement of commercial and civil disputes, worth at least one million dirhams, provided that parties agree on the jurisdiction of the court to hear their claim. Chief of the Ras Al Khaimah Courts Department The law included 19 articles providing for the establishment of the Financial Court, its operating mechanism, the number of its judges, the manner of registering cases, the fees, the return period, etc.
Article 15 stipulated that the request for registration of the trial should be based on the court's digital recording system. The newspaper must contain the data provided for by the Code of Civil Procedure and be notified to the defendant. The same article provides that a judge of the courts will invite the parties to the dispute to provide judicial mediation between them.
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