Legal Advice and Legislation Department announced the dismissal of an arbitration filed against State of Kuwait
ICSID is an international arbitration institution founded in 1966 and established by World Bank Group according to the Convention on the Settlement of Investment Disputes between States and Nationals of Other States to settle the international investment disputes through conciliation and arbitration. Currently there are 163 signatory and contracting states to ICSID convention. The ICSID convention entered into force for Kuwait on 4th March 1979 by virtue of law decree No. 1 issued on 14th January 1979.