India vs Pakistan
India and Pakistan have not played a full series for more than a decadeReuters

The International Cricket Council (ICC) has confirmed that it has created a dispute panel to hear Pakistan's compensation claim against India for refusing to play a bilateral series.

The Pakistan Cricket Board (PCB) is seeking $70m (£49m) from the Board of Control for Cricket in India (BCCI) as compensation for lost revenue due to India's refusal to play Pakistan.

The PCB and the BCCI signed a memorandum of understanding in 2014 under which India and Pakistan would play six bilateral series between 2015 and 2023.

However, India has refused to play a full series against Pakistan, citing political tension between the two countries.

The ICC said a three-member panel will hear PCB's complaint at a hearing in Dubai in October this year and that the decision of the panel will be "non-appealable".

"The International Cricket Council today confirmed that the Hon Michael Beloff QC will chair the dispute panel in the matter of proceedings between the Pakistan Cricket Board and the Board of Control for Cricket in India," the governing body said in a statement.

"The decision of the dispute panel shall be non-appealable and shall remain the full and final decision in relation to the matter and binding on all parties."

The announcement comes after the Asian Cricket Council, whose president is former PCB chairman Shahryar Khan, shifted the 2018 Asia Cup from India to the UAE due to political tensions between India and Pakistan.

"The ACC deliberated on the matter and decided that this was the best way forward," PCB chairman Najam Sethi told ESPNcricinfo. "All decisions were unanimous. All participants agreed to support the return of international cricket to Pakistan subject to certain constraints.

"That's why the ACC annual general meeting will be held in Lahore and the BCCI has pledged to participate in it like all other ACC members.

India have not played Pakistan in a full series since the 2008 terror attacks in Mumbai, although the two countries played a short one-day series in India in 2012/13.