KIGALI - The Parliamentary Standing Committee on Foreign Affairs has finalized the revision of a bill establishing the Kigali International Arbitration Centre (KIAC).
According to the Chairperson of the Committee that revised the bill, Gideon Kayinamura, Kigali International Arbitration Centre, which will also target commercial disputes in the region, is also intended to ease the backlog of cases in Rwandan commercial courts.
Justice Minister, Tharcisse Karugarama, tabled before parliament the bill early this year and said that when voted into law, “the initiative will go a long way in facilitating business operations in the country”.
According to the bill a copy of which The New Times obtained, arbitrators will be persons with versatile experience in arbitration matters.
The Centre, to be supervised by the Private Sector Federation, will be supported initially by the government but will eventually source its own funds. The centre will be independent, non profit and with an international stature.
It will also promote opportunities for educating the public through the media, public lectures, and seminars on the subject of arbitration and alternative dispute resolution.
“The centre shall establish an International Arbitral Advisory Committee whose functions shall be to advise the centre on matters relating to international commercial arbitration and to recommend to the centre - persons who, in the committee’s opinion are qualified to carry out the duties of arbitrators in international commercial arbitration,” reads the bill.