BANGLADESH INTERNATIONAL ARBITRATION CENTRE
The Institution for Alternative Dispute Resolution
Mr. Naren Das, Secretary, Legislative and Parliamentary Affairs Division has emphasised broader outlook on Alternative Dispute Resolution (ADR) as the best means of resolving commercial disputes. ‘’We are very much supportive of ADR practices”, he said during his visit to Bangladesh International Arbitration Centre (BIAC) at Kazi Nazrul Islam Avenue in the city on 27 November 2019. The Secretary said that foreign investors tend to choose a third country as a place for arbitration for the sake of neutrality and capability and they do not like the idea of keeping mandatory arbitration clause in commercial contracts. The Government is trying hard so that international arbitrations can be held in Dhaka, the Secretary maintained and opined that mandatory arbitration clause may be inserted at least in contracts between two Bangladeshi parties. He also lauded BIAC’s pioneering role as the only ADR service providing institution in the country. Welcoming the Secretary to BIAC’s new premises, Mr. Muhammad A. (Rumee) Ali, Chief Executive Officer of BIAC praised Government’s recent initiatives towards updating a number of statutes to enable arbitration and mediation as alternative means of dispute resolution. In a briefing session he gave an account of BIAC’s activities in embedding internationally accepted best practices of ADR to help create an ecosystem that fosters investment in the country and is conducive to business. He also briefed the Secretary about the recent achievements of BIAC. He said that a committee formed by the Bangladesh Bank comprising BIAC, Association of Bankers Bangladesh (ABB) and Bangladesh Bank has recently submitted a draft guideline on ADR for Banks which is under active consideration by the Bank. A presentation on emergence and ongoing programmes of BIAC was delivered by BIAC Counsel Ms. Rubaiya Ehsan Karishma. Mr. M A Akmall Hossain Azad, Director, BIAC and officials of BIAC and Legislative and Parliamentary Affairs Division also attended the briefing session.