Istanbul becomes the seat of a new OIC arbitration authority

A Turkish presidential circular has formalized the legal status of the OIC Arbitration Centre in Istanbul, positioning the city as a dispute-resolution hub for commerce among the 57 OIC member states. Arbitration is unglamorous infrastructure, which is precisely why it matters: cross-border trade and investment follow enforceable contracts, and for decades commercial disputes between Muslim-majority countries have been settled in London, Paris, or Singapore under foreign law. A credible OIC seat — with recognized awards, competent arbitrators, and state backing — keeps that legal work, expertise, and precedent inside the bloc. The circular is a legal step, not yet a track record; the Centre now has to win cases parties could have taken elsewhere. But this is what institution-building looks like: slow, procedural, and more consequential than a summit communique.

This is a QeRN summary by Ahmed Qerni. Read the original at OIC Arbitration Centre: https://www.oic-ac.org/news/historic-presidential-circular-elevates-istanbul-as-a-global-dispute-resolution-hub-oic-arbitration-centre-takes-center-stage/.