BIAC holds dialogue on arbitration

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From Left to Right: Barrister Rokanuddin Mahmud, former Chief Justice Md. Tafazzul Islam, BIAC Chairman Mahbubur Rahman, Dr. Kamal Hossain, BIAC Chief Executive Dr. Toufiq Ali, former Attorney General Barrister Fida M Kamal, Ms. Nina Mocheva IFC, Washingt

FE Report Bangladesh International Arbitration Centre (BIAC) organised a dialogue on Saturday at Ruposhi Bangla Hotel on "Saying YES to Arbitration". Four BIAC trainees Jaharat Adib Choudhury, Manal Mohammed, Nabil Ahsan and Margub Kabir spoke on different aspects of the theme selected for them. Earlier chief executive BIAC Dr. Toufiq Ali described the objectives of organising the dialogue and the overall format of the event. The dialogue is being held to encourage those who have received the training and to create a broader awareness," he said. The dialogue was moderated by eminent jurist Dr. Kamal Hossain. Senior lawyer Barrister Rokanuddin Mahmud and former Attorney General Barrister Fida M Kamal made important statements as discussants. Among others, former Chief Justice Md. Tofazzul Islam, representative of International Finance Corporation (IFC) Washington Nina Mocheva, Mohiuddin Ahmed of UPL, Altafur Rahman of ICB Islamic Bank spoke on various aspects of the topic. Chairman of BIAC Mahbubur Rahman thanked the moderator, discussants, participants and guests for attending the event and thereby promoting arbitration in the country. The audience comprised of representatives of law chambers, junior or mid career lawyers and representatives of companies. Arbitration is used as an alternative dispute resolution (ADR) method outside the court system in most of the developed and major developing countries, BIAC sources said. With over 2.4 million cases pending in courts in Bangladesh, as on January 1, 2013, and the country's complex court procedures, foreign companies and investors are discouraged to enter into commercial deals with Bangladeshi partners. Serious local businesses also consider our court system as a hindrance, they said.