Standard Bank sponsors private business sector’s arbitration centre

* 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

Maravi Express

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 was opened today and to end tomorrow at the Bingu International Convention Centre (BICC) in Lilongwe, aiming to familiarise the private sector and other key stakeholders with MIAC’s establishment and dealings.

Speaking when she presented the sponsorship, Standard Bank Head of Legal & 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 director and Malawi Confederation of Chambers of Commerce and Industry (MCCCI) president, Wisely Phiri and Malawi Law Society (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 aouthern 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, whose keynote address was delivered by Minister of Justice, Titus Mvalo as guest of honour.

Other speakers include Dr. Wisely Phiri; former Attorney General, Dr. Chikosa Silungwe; MCCI CEO, Daisy Kambalame; MIAC company secretary, Pempho Likongwe and MIAC director, Emily Makuta.

The foreign speakers are Samuel Mbiriri Nderitu, who is board director of Nairobi IAC and Kenya ICC national committee as well as chairman of Arbitration Foundation of Southern Africa-SADC, Des Williams.

MIAC is a joint venture private company limited by guarantee incorporated by the lMCCCI and the MLS on September 7, 2023.