Dubai’s Decree 34 of 2021 (“Decree”) and its appended statute on DIAC (“Statute”) were promulgated on 14 September 2021. The Decree consolidates the local arbitration centres under a new-and-improved DIAC (“DIAC 2.0”), and notably abolishes the DIFC Arbitration Institute (“DIFC-LCIA”), marking the beginning of a new era for arbitration in Dubai. From the outset, DIAC…