When financial arbitration is inspired by strategies from the sporting world

When financial arbitration is inspired by strategies from the sporting world
When financial arbitration is inspired by strategies from the sporting world

What are the qualities of a good referee? The question was on the agenda today, during the first morning of the 8th edition of the Casablanca Arbitration Days. In terms of Pierluigi Collinapresident of the Referees Commission of the FIFA and emblematic figure of sports arbitration, talent is the first quality that a referee must have. Collina, who spoke at this edition under the theme “The new frontiers of arbitration: sport and finance”, adds that engagement is also important. In addition, he emphasizes, you have to be “ready to work harder every day.” His mantra? “Always be one step ahead.” Then, you have to be well prepared, he insists.

So how did he prepare throughout his career? “Maintain good health, anticipate how the match will be played and collect as much information as possible about players and previous matches,” he shares. Preparation is critical, emphasizes Pierluigi Collina. Because “you cannot make biased decisions!”, he concludes.

In addition to preparation, you must have and maintain self-confidence, insists the arbitration specialist. And precisely, this confidence comes from preparation, he explains. A mind of steelfueled and maintained by physical, mental and technical preparation, is the key to successful quality refereeing.

And then, adds the arbitration specialist, keep in mind that there will always be difficult days. “Bad decisions will be made due to inattention or any other reason. What I say to my young referees today is that we must assume the consequences of these decisions.” Of course, says Collina, there are mistakes that kill (professionally), for others, “they will make you stronger,” he promises. Either way, Collina warns, “avoiding responsibility won’t make you better.”

Regarding the current state of thefootball refereeingCollina points out that current technology helps referees carry out their task better. However, this global figure in sports arbitration remains convinced that even if technologies, such as AI (artificial intelligence), significantly improve the quality of arbitration, they will never end up replacing the referee. Furthermore, Collina congratulated Morocco on the progress made in football and refereeing. He placed special emphasis on those of the women’s teams.

This flagship event, organized jointly by the Casablanca International Mediation and Arbitration Center (CIMAC) and Casablanca Finance City Authority (CFCA), stands out as an unmissable event “for legal professionals (lawyers, judges, arbitrators, mediators), economic decision-makers, public regulators and experts in finance and insurance and business leaders,” explains Hicham Zegray, secretary general of CIMAC during his intervention. “It is a laboratory of ideas and solutions to multiple challenges,” declared Saïd Ibrahimi, CEO of Casablanca Finance Authority.

More than 200 international specialists in commercial and financial arbitration are taking part in this event. This edition particularly highlights the strategic role of arbitration and mediation in improving the business climate in Morocco. The parallel with the sporting world is intended to be a way to draw inspiration from the good practices adopted in the sporting world to continue to make rapid decisions, under pressure, with rigor and in complete transparency.

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