The Middle East, as a central hub for global trade, regularly sees substantial high-value disputes involving sophisticated entities. It has a well-developed legal services market, regulatory regimes that do not prohibit third party funding, and legal systems—including innovative free-zone jurisdictions—that are increasingly arbitration-friendly and aligned with international legal standards, particularly regarding recognition and enforcement of foreign awards.
As a global litigation funder, Woodsford regularly receives inquiries from parties involved in Middle-East related proceedings and we expect the frequency of these inquiries to grow substantially in the coming years. As such, lawyers and arbitrators involved in high-value litigation and arbitration in the region, should begin to familiarise themselves with how litigation funding works in practice and the many advantages offered by partnering with a litigation funder like Woodsford.
This short white paper provides an overiew of litigation funding, reviews its permissibility in the region, details the latest rules and guidelines and assesses whether litigation funding is fundamentally consistent with the basic tenets of Islamic finance.
You can download the full whitepaper here.