"Custodian of the Two Holy Mosques King Abdullah has allocated around $ 2 billion (SR 7.5 billion) for the development of the Saudi judicial system with special reference to the field of international commercial arbitration, thereby representing one of the leading developments in the International Chamber of Commerce (ICC).
Khalid Al-Nowaiser, chairman of the Saudi Commercial Arbitration Committee, made this announcement yesterday at a meeting here of members of his committee with visiting officials from the International Court of Arbitration in Paris.
Jose Ricardo Feris, deputy secretary-general of the International Court of Arbitration at the International Chamber of Commerce (ICA-ICC) in Paris, led the delegation."
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