BANGLADESH INTERNATIONAL ARBITRATION CENTRE
The Institution for Alternative Dispute Resolution
He also mentions the report with recommendations that was submitted to Bangladesh Bank jointly by ABB and Bangladesh International Arbitration Centre and yet to be acted on.
“Mr. Hussain, also former vice chairman of Association of Bankers, Bangladesh (ABB) has sought judiciary system reform to speed up the recovery process of classified loans, saying that it would also help improve financial health of the banks.
“The quality of audit along with stronger due diligence, post disbursement monitoring as well as expanded use of arbitration as a way of resolving disputes with customers will have to be improved to curb the rising trend of default loans in the banking sector of Bangladesh,” the senior banker said while explaining how to face the challenges of NPLs.
The arbitration act needs to be amended in this regard, he said, adding that a joint team of ABB, BIAC (Bangladesh International Arbitration Centre) and central bank has already submitted recommendations to the Bangladesh Bank (BB) in 2019.”
Read the full interview here: https://today.thefinancialexpress.com.bd/…/meghna-bank…