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Digital Dispute Settlement Provides Appropriate Environment for Saudi Private Sector

One of the sessions of the International Judicial Conference on Monday, in Riyadh, in the presence of a group of legal experts (Asharq Al-Awsat)
One of the sessions of the International Judicial Conference on Monday, in Riyadh, in the presence of a group of legal experts (Asharq Al-Awsat)
    Riyadh - Bandar Al-Mosalam and Mohammed Halal
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Digital Dispute Settlement Provides Appropriate Environment for Saudi Private Sector

One of the sessions of the International Judicial Conference on Monday, in Riyadh, in the presence of a group of legal experts (Asharq Al-Awsat)
One of the sessions of the International Judicial Conference on Monday, in Riyadh, in the presence of a group of legal experts (Asharq Al-Awsat)

International experts have warned of the biases of artificial intelligence rulings in the judicial system, stressing the importance of providing modern technologies with correct data and updated information, to ensure fair and equitable decisions for all parties.

In a session on data analysis within the International Judicial Conference on Monday, a group of international jurists pointed to the importance of digital transformation in the Saudi justice system and in dispute settlement.

The experts noted that Saudi Arabia was able to keep pace with the massive and rapid development in technology by reducing time and effort and providing a justice environment suitable for all parties, including the local and foreign private sectors.

Wang Ju, a law professor and director of the Big Legal Data Lab in China, said that research and development were underway to employ artificial intelligence technologies in addressing complexities in judicial systems.

He also stressed the need to integrate technical and ethical information to make modern technologies capable of issuing fair judgments.

Another session on Monday highlighted the future of alternative dispute solutions in light of the digital transformation, with the participation of a number of international experts in legal affairs. Those pointed to the importance that workers in the judicial field understand the latest technologies and use them appropriately to accelerate the pace of business and ensure high quality of services.

Yousef Alghamdi, Director of the Saudi Justice Ministry’s Remote Reconciliation Platform, said that the Ministry of Justice has rich experience in digital transformation and modern technology, enabling it to keep pace with rapid technological development.

He added that the ministry has launched several initiatives aimed at providing a sustainable system, qualified capabilities, and high-quality services supported by social awareness.

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Egypt, IMF Hold New Discussions to Alleviate Citizens’ Financial Burdens

Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)
Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)
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Egypt, IMF Hold New Discussions to Alleviate Citizens’ Financial Burdens

Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)
Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)

Egypt and the International Monetary Fund (IMF) have agreed to review their joint credit facilitation program to ensure that no additional burdens are placed on citizens.

Egyptian Prime Minister Mostafa Madbouly reiterated the government’s commitment to “maintaining a flexible exchange rate in coordination with the central bank to safeguard the progress achieved in this area.” He expressed hope that the meetings with the IMF delegation in the coming days would “conclude the fourth review of the economic reform program.”

Following a meeting on Sunday between President Abdel Fattah al-Sisi and IMF Managing Director Kristalina Georgieva in Cairo, the Egyptian Presidency announced that Georgieva expressed her “full understanding of the significant challenges Egypt faces amid regional and global developments.”

In March, Egypt signed an $8 billion extended financial support package with the IMF, which requires reducing subsidies on fuel, electricity, and essential goods and allowing the Egyptian pound to float.

In late October, Sisi warned that his government might need to reassess its program with the IMF if international institutions do not account for the extraordinary regional challenges the country is facing. He cited a nearly 60% drop in Suez Canal revenue due to security tensions in the Red Sea as an example.

During the meeting with Georgieva, Sisi expressed Egypt’s commitment to continuing its cooperation with the IMF, building on progress to boost economic stability and reduce inflation. However, he stressed the need to acknowledge recent challenges Egypt has faced due to regional and international crises, which have impacted foreign currency reserves and budget revenues.

Sisi reiterated that the government’s primary focus is on alleviating pressures on citizens, particularly by controlling inflation and curbing rising prices, while also continuing efforts to attract investments and empower the private sector to drive employment and growth.

Georgieva, in turn, commended Egypt’s recent efforts and the reform program being “carefully implemented with a focus on the most vulnerable.” She highlighted the progress in macroeconomic indicators despite unprecedented current challenges, noting that this has been reflected in positive assessments from international credit rating agencies, improved credit ratings, and increased investments.

She expressed her “full understanding of the significant challenges Egypt faces amid regional and global developments” and emphasized the IMF’s commitment to working with the Egyptian government to identify optimal reform paths.