Awj Signs a Strategic Memorandum of Understanding with the International Islamic Centre for Reconciliation and Arbitration (IICRA), Dubai, to Advance Institutional Islamic Arbitration in Palestine and the Region
As part of its vision to establish specialized institutional solutions in the fields of finance and arbitration, and in line with its commitment to advancing alternative dispute resolution in accordance with Shariah principles and international best practices, Awj Financial Consulting, Advisory and Arbitration Company has signed a Strategic Memorandum of Understanding (MoU) with the International Islamic Centre for Reconciliation and Arbitration (IICRA), Dubai.
The MoU was signed on behalf of Awj by Dr. Fadi Mahmoud Abu Diak, Founder and General Director of the company, while H.E. Dr. Rami Suleiman Abu Daqa, Secretary General of IICRA, represented the Centre. The agreement reflects both parties' commitment to establishing a long-term institutional partnership dedicated to promoting reconciliation and arbitration in accordance with Islamic Shariah while responding to contemporary legal and economic developments.
The Memorandum of Understanding establishes a strategic framework for cooperation in several key areas, including:
Settlement of financial and commercial disputes in accordance with Islamic Shariah principles.
Institutional arbitration, reconciliation, and alternative dispute resolution.
Specialized legal and arbitration consultancy services.
Professional development and capacity building.
Academic research and knowledge-based initiatives in the field of Islamic arbitration.
Under the MoU, both parties will collaborate in referring disputes to be administered under IICRA's arbitration framework, organizing joint professional training programs, conferences, seminars, and workshops, exchanging legal and technical expertise, nominating arbitrators and subject-matter experts, and implementing collaborative research initiatives aimed at advancing institutional Islamic arbitration at both the regional and international levels.
This partnership carries particular significance for Palestine, where there remains a pressing need to strengthen the culture of arbitration and reconciliation as efficient, fair, and timely mechanisms for resolving disputes amid current judicial and economic challenges. The initiative is fully aligned with the Palestinian Ministry of Justice's efforts to encourage institutional arbitration as a strategic alternative to conventional litigation.
In this context, the agreement further reinforces Awj's growing role in building institutional bridges between Palestine and leading international organizations, facilitating the transfer of global professional expertise to the Palestinian market for the benefit of both individuals and institutions.
It is also noteworthy that Dr. Fadi Abu Diak is a certified arbitrator accredited by the Palestinian Ministry of Justice and has successfully completed several specialized training programs in arbitration and reconciliation offered by IICRA in Dubai. This professional background adds considerable practical depth to the partnership and reflects a relationship founded on direct expertise and specialized knowledge.
The MoU also represents a continuation of Awj's expanding portfolio of distinguished international partnerships, most notably its recent strategic cooperation agreement with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). Together, these initiatives reflect the company's long-term strategy of building an integrated ecosystem that combines Islamic finance, institutional arbitration, governance, professional advisory services, and internationally accredited training.
Both parties affirmed that this partnership marks an important step toward strengthening institutional Islamic arbitration as an effective instrument for delivering justice, enhancing confidence, safeguarding rights, and promoting economic stability, while remaining fully consistent with the principles of Islamic Shariah and internationally recognized professional standards.
Finally, the parties agreed to officially launch the First Joint Certified Islamic Arbitrator and Expert Program, which will be delivered online via Zoom. The program is regarded as one of IICRA's flagship professional qualifications and has been offered successfully for many years. Full details regarding the program, registration procedures, and schedule will be announced through Awj's official channels in due course.
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