Standard Bank Sponsors Private Sector Arbitration Centre Symposium
The symposium will feature high-profile speakers from Malawi, Kenya, and the Southern African Development Community.
LILONGWE, Malawi— Standard Bank Plc has donated K5 million to sponsor the inaugural Awareness and Membership Symposium of the Malawi International Arbitration Centre (MIAC), writes AfricaBrief Reporter.
The two-day symposium, starting Thursday at the Bingu International Conference Centre, aims to familiarize the private sector and key stakeholders with MIAC, a private sector-driven arbitration and dispute resolution body.
Norah Nsanja, Standard Bank's Head of Legal and Governance, said the bank's partnership with MIAC aligns with its purpose of promoting national growth.
"We believe in effective dispute settlement in matters of commerce and investment, hence our support of this week's symposium," Nsanja said.
In a joint statement, MIAC and Malawi Confederation of Chambers of Commerce and Industry (MCCCI) President Wisely Phiri and Malawi Law Society (MLS) President Patrick Mpaka said MIAC aims to institutionalize arbitration and alternative dispute resolution in Malawi.
"Its unique feature is that it is a legally sanctioned wholly private initiative that actively promotes collaboration and recognition by state parties and multilateral institutions at national, regional, and international levels," the statement read.
The symposium will feature high-profile speakers from Malawi, Kenya, and the Southern African Development Community.
MIAC, incorporated on Sept. 7, 2023, is a joint venture between MCCCI and MLS, reflecting growing efforts to enhance dispute resolution mechanisms in Malawi's private sector.