Foreign investors urged to follow BIAC rules, use Dhaka as venue of arbitration

The call was given by M Shahidul Haque, Senior Secretary, Legislative and Parliamentary Affairs Division, while presenting a keynote paper on ‘New Innovations in ADR by arbitral institutions’ in the two day long 2nd International ADR Conference beginning on 13 May 2019 in Bangkok.The event is jointly organized by Thailand Arbitration Center (THAC) and BIAC and being participated by delegates from around 20 countries and 50 organizations, law firms and a number of experts on ADR from throughout the globe. In his deliberation the Senior Secretary lauded the role of BIAC by helping banks and financial institutions through its arbitration and mediation processes, thus making substantial contribution in letting businesses grow in Bangladesh. He also emphasized the need of updating rules for resolution of commercial disputes outside the court. He said that user friendly laws are the prime need of time to attract more FDIs in the country. A 17 member delegation from Bangladesh is participating at the Conference representing Bangladesh Bank, City Bank, Janata Bank,Krishi Bank, Islami Bank Bangladesh, IDCOL and Jurischolar Associates, along with Tarique Afzal,M D of AB Bank and BIAC Director Akmall Azad