Standard Bank sponsors private sector Arbitration Centre

Standard Bank Plc has sponsored K5 million towards the inaugural Awareness and Membership Symposium of the Malawi International Arbitration Centre (MIAC), a private sector driven arbitration and dispute resolution body.

The symposium takes place from September 5th-6th, 2024 at the Bingu International Conference Centre (BICC) in Lilongwe, aiming to familiarize the private sector and other key stakeholders with MIAC’s establishment and dealings.

Speaking when she presented the sponsorship, Standard Bank Head of Legal and Governance Norah Nsanja said the bank’s partnership with MIAC aims to promote efficient dispute resolution in Malawi in line with its purpose of promoting national growth.

“Standard Bank applauds the vision behind establishment of MIAC, which is private sector led and recognises the sector as engine of growth. We believe in effective dispute settlement in matters of commerce and investment, hence our support of this week’s symposium.

In a joint statement touting this week’s meeting, MIAC and MCCCI President Wisely Phiri and MLS President Patrick Mpaka said establishment of MIAC aims to institutionalise arbitration and alternative dispute resolution in Malawi and enhance access to justice through efficient non-adjudicatory measures in the service of local business and the broader business communities of Southern Africa and internationally.

“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,” reads the statement.

The symposium will have several high-profile speakers drawn from Malawi, Kenya and SADC.

MIAC is a joint venture private company limited by guarantee incorporated by the Malawi Confederation of Chambers of Commerce and Industry (MCCCI) and the Malawi Law Society (MLS) on 7th September 2023.

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