Bangladesh International Arbitration Centre (BIAC) celebrated its 6th Founding Anniversary on Saturday, 7th October, 2017.

Bangladesh International Arbitration Centre (BIAC) – country’s first and only Alternative Dispute Resolution (ADR) institution, has stepped into its 7th year of functioning. As part of its 6th anniversary celebration, a Seminar on “Doing Business Index: ADR in Effective Enforcement of Contracts” was held on Saturday, 7th October, 2017 at the Pan Pacific Sonargaon, Dhaka. The Seminar was presided over by Mr. Mahbubur Rahman, Chairman BIAC.

 

Chief Guest Hon’ble Mr. Anisul Huq, MP, Minister for Law, Justice & Parliamentary Affairs assured of blending the joint efforts of the Government and BIAC to create a congenial atmosphere for speedy dispute resolution, and the Government has taken a decision in principle to incorporate appropriate clauses for arbitration and mediation in all Government contracts. The Ministry will initiate a proposal soon in this regard.

Mr. Fazle Kabir, Governor of Bangladesh Bank and Mr. Kazi M. Aminul Islam Executive Chairman of the Bangladesh Investment Development Authority (BIDA) were present as special guests on this occasion.

 

Mr. Chou Sean Yu, Chairman Chartered Institute of Arbitrators (CIArb) Singapore, one of the foreign Speakers shared his experience on the practice and implementation of International Arbitration in Singapore and in the region. Mr. Anil Xavier, President of the India Institute of Arbitration and Mediation (IIAM) another foreign Speaker highlighted the appropriateness of ADR in resolving commercial disputes because of its efficiency. Both Speakers emphasised on the growing need for an ADR institution in Bangladesh to cater to cross-border commercial disputes given the increasing foreign investor interest in Bangladesh and BIAC’s role in meeting this need.

 

Mr. Mohammad Shahidul Haque, Senior Secretary, Legislative & Parliamentary Affairs Division, Barrister Nihad Kabir, President of the Metropolitan Chamber of Commerce & Industries (MCCI), Dhaka, Managing Director and CEO of the City Bank Limited, Mr. Sohail R.K. Hossain, Barrister Ajmalul Hossain QC, Mr. M. Masrur Reaz, Senior Economist, IFC, World Bank Group and Ms. Nina Mocheva, Senior Financial Sector Specialist, Debt Resolution & Insolvency, World Bank Group were present as panelists.

 

Mr. Muhammad A. (Rumee) Ali CEO of BIACstarted the session with a welcoming note while Mr. Mahbubur Rahman, Chairman of BIAC moderated the session. Former Chief Justices and Justices, diplomats, senior lawyers, senior government officials, managing directors of banks, distinguished business leaders and prominent businessmen, country representatives of international organisation and media personalities also participated at the Seminar.