International Banking and Financial Disputes in Reliance with Alternative Dispute Ersolution (ADR): Methods of Settlement

Development and international banking and financial relations provide many opportunities for developing countries to play a more active role in the global economy and increase their profits through their participation in international markets. Despite the variety of opportunities arising from international financial and banking relationships, there are many challenges in this area. One of the most important challenges is how to resolve disputes related to international banking and financial affairs. To address the claims in this area, new approaches have been proposed, which are somewhat different from the traditional legal and judicial approaches that are called “Alternative Dispute Resolution" (ADR). In these methods, the disputant’s parties seek specific mechanisms that, while paying the lowest cost and providing their points of view and satisfaction, can make fair and equitable decisions. This article examines the effectiveness of ADR procedures as an extended model for resolving banking and financial disputes by examining different ways of solving disputes in the field of international economics. Hence, identification of competent authorities to address these disputes and explaining the role of ADR methods in resolving disputes arising from financial and banking issues are among the most important goals of this study. The results of this research prove that using ADR methods is the most appropriate and desirable method among various methods of resolving economic disputes for international banking and financial affairs.