Abstract
The Customer Dispute Resolution Scheme (CDRS) is the primary dispute resolution mechanism for financial disputes involving retail clients in the Qatar Financial Centre (QFC). As the QFC has grown the CDRS has also correspondingly developed. The Qatar Financial Centre Regulatory Authority (QFCRA) is currently reviewing the CDRS rules in an effort to further improve the performance of the tribunal. In support of this initiative, this paper reviews the regulatory framework underpinning the tribunal and offers recommendations as to how best to tighten and clarify the applicable rules and regulations. Similar tribunals are growing in popularity in many other parts of the world. As the prevalence of these tribunals increases, our understanding of the relationship between these bodies and the broader legal and regulatory environment also continues to develop. This paper contributes to the expanding body of research and literature on these types of forums, and places this emerging ADR trend specifically in the context of Qatar.
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