The General Assembly of the Arab Union for International Arbitration said on Monday that the first Arab court of international Arbitration for settlement of investment and commercial disputes will be based in Cairo.

The court will be chaired by Dr. Ahmed Fathi Sorour, who was the Speaker of the People's Assembly of Egypt from 1990 until the Egyptian Revolution of 2011. 

Dr Hassan Hamad was chosen as the court's general secretary and Mohamed Abul-Enein as vice chairman.

Egypt was chosen to be the headquarters of the court as it is one of founding members of the Council of Arab Economic Unity (CAEU). 

The court includes 10 circuits, including a circuit to settle economic and investment disputes.

The court will have representatives, who form the Court Board of Trustees, in all Arab countries.

Source: MENA