Becoming A Member Of The Board Of Trustees Of The International Islamic Cooperation Organization, Arsjad Rasjid: This Is An Honor For Kadin

JAKARTA - Chairman of the Indonesian Chamber of Commerce and Industry M. Arsjad Rasjid was appointed a Member of the Board of Trustees of The Organization of Islamic Cooperation Arbitration Center (OICAC) at the First OICAC Board of Trustees Meeting which was held Thursday, October 7 last week.

OICAC was formed by Islamic countries that are members of the Organization of Islamic Cooperation (OIC).

"This is an honor for us as well as for the Kadin organization," said Arsjad in a written statement, quoted from Antara, Wednesday, October 13.

The appointment is expected to be a major milestone for the development of Indonesia's sharia economy.

Kadin, said Arsjad, will continue to strengthen its relationship with the Islamic Chamber of Commerce, Industry and Agriculture (ICCIA) and the OIC to promote international trade among its member countries.

"OICAC is the first and only OIC Arbitration Center. The purpose of its establishment is to resolve international disputes among OIC countries and subsequently serve the private sector in member countries," explained Arsjad.

OICAC will also serve commercial and investment dispute resolution through arbitration and other Alternative Dispute Resolution (ADR) methods agreed by the parties such as mediation, adjudication, and others.

In addition to appointing Arsjad Rasjid, ICCIA President Abdullah Saleh Kamel also appointed other members of the Board of Trustees, including Muhammed Musaev, Ahmar Bilal Soofi, Sheikh Khalifa Bin Jassim AlThani, Hashem Salah Matar, Hassan Abd Al Moneim Al Badawi and Ibrahim Jokouni.

OICAC, headquartered in Istanbul, Turkey, is tasked with facilitating access from member countries to the center and establishing offices in different OIC member countries and non OIC member countries that will function directly under the auspices of the center.

The objectives of the Central OICAC are to facilitate the settlement of commercial and investment disputes referred to the center, involve individuals or legal entities from OIC member countries and non-OIC member countries, promote arbitration, and make proposals on legal reform and dispute resolution practices in countries. member of the OIC.