Dubai, (IINA) : The Organization of Islamic Cooperation (OIC) and the Dubai-based International Islamic Center for Reconciliation and Arbitration (IICRA) signed a Memorandum of Understanding (MoU) aimed at establishing partnership between the two sides on investment and trade conflicts, exchange of expertise, consultations and information and organization of symposia, conferences, and specialized training programs.

The signing ceremony took place on Monday at the headquarters of the OIC General Secretariat in Jeddah. OIC Secretary General Dr. Yousef A. Al-Othaimeen and Mr. Majid ibn Bashir Al-Mahairi, chairman of Board of Trustees, signed the MoU.

Under the MOU, the two sides will organize joint educational activities to create awareness about reconciliation and arbitration and encourage recourse to them as some of the tools for encouraging and protecting investments among member states. The center will also provide specialized training programs on the legal and religious aspects of arbitration and Islamic financial transactions.