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Article (176) Dispute Resolution

(a) Dispute Resolution Committee shall be established in the Central Bank and shall have the exclusive authority for settling disputes between the Licensees. The Committee shall be formed by a resolution to be made by the Council every three years as follows:
i. Three judges of the High Court of Appeals to be delegated by the High Judiciary Council. The Committee shall be chaired by the most senior judge among the three.
ii. Two of the senior officials of the Central Bank or two qualified personnel with high calibre in finance services to be nominated by the Governor.
The two members of the Committee, other than the judges, shall take oath before the chairman of the Committee to the effect that they will carry out their mission sincerely and with conscience, and to participate in the discussions of the committee without having the right of voting with respect to the decisions issued by the committee.

The decisions of the Committee shall be explained and reached by majority vote; however, in case of a tie vote the chairman's side shall have the casting vote. Such decisions, after drafting the same by the clerks of the said court, shall have the force of a resolution issued by the High Court of Appeals,

The execution judge shall undertake the implementation of the decisions taken by the committee pursuant to the provisions of the Civil and Trade Procedure Law.

The Committee may decide to hear the witnesses and to assign experts to investigate all documents relevant to the dispute and take all measures necessary to settling thereof.

The Minister of Justice, in agreement with the Council, may issue a resolution to specify the procedures to be followed in presenting a dispute before the Committee and the manner of delivering the Committee's decisions to the relevant parties, and the remuneration of the members of the Committee.
(b) The Council may issue Regulations establishing appropriate schemes under which disputes between Licensees and others can be resolved amicably.