BIAC holds seminar on resolving investment dispute marking 13th anniversary
The Bangladesh International Arbitration Centre (BIAC) celebrated its 13th founding anniversary on Sunday (26 May) with a seminar held at the Pan Pacific Sonargaon Hotel, Dhaka.
This year's seminar, themed "Resolving Investment Dispute: Strategies for Successful Outcome and Need for a Robust ADR Framework," was attended by prominent figures in law and arbitration, reads a press statement.
Abdul Muyeed Chowdhury, advisor to the former caretaker government of Bangladesh, and Justice Khizir Ahmed Choudhury of the High Court Division, Supreme Court of Bangladesh graced the event as the special guest.
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They emphasised the importance of developing a strong Alternative Dispute Resolution (ADR) framework to effectively resolve investment disputes and also highlighted the government's commitment to supporting initiatives that enhance the arbitration landscape in Bangladesh.
Furthermore, they shared valuable insights, emphasising the judiciary's pivotal role in fostering a conducive environment for ADR practices.
The seminar attracted a diverse array of participants, including former justices such as Justice KM Hassan, and Justice Syed Mahmud Hossain, both former chief justices of Bangladesh, Justice Tariq Ul Hakim, former justice, Appellate Division, Supreme Court of Bangladesh, eminent jurist Shahdeen Malik, esteemed Member of Parliament and founder of Ha-Meem Group, AK Azad, Mr. Kamran T Rahman, president of Metropolitan Chamber of Commerce and Industry, Dhaka, as well as prominent lawyers, corporate representatives, government officials, senior executives from banks and insurance companies, academicians, and media personnel.
Nicky Balani, director, Thailand Arbitration Centre, as keynote speaker, discussed strategies for achieving successful outcomes in investment disputes and emphasised the necessity for a robust ADR framework.
Other Distinguished Speakers echoed his sentiments, underlining the need for continuous improvement in the arbitration process to facilitate efficient and cost-effective dispute resolution
Muhammad A (Rumee) Ali, vice chairman of BIAC, extended a warm welcome to the esteemed guests and audiences, emphasising the significance of a collaborative approach in investment dispute resolution.
He emphasised the need for stakeholders to work together to develop comprehensive strategies that promote transparency, efficiency, and fairness in arbitration proceedings.
Mahbubur Rahman, chairman of BIAC, in his closing remarks reaffirmed BIAC's unwavering commitment to advancing ADR in Bangladesh.
He spotlighted BIAC's notable achievements over the past year and its ongoing endeavours to promote arbitration and mediation as viable alternatives to conventional litigation.
The seminar featured distinguished speakers, including Justice AFM Abdur Rahman, retired Justice of the High Court Division, Supreme Court of Bangladesh, Mohammad Shahidul Haque, Former Senior Secretary, Legislative and Parliamentary Affairs Division, Government of Bangladesh, Mohammed Forrukh Rahman, Advocate of the Supreme Court of Bangladesh, Appellate Division, Ashraf Ahmed, President of Dhaka Chamber of Commerce & Industry (DCCI), Rumana Islam, Professor of Law at the University of Dhaka, Commissioner of the Bangladesh Securities and Exchange Commission (BSEC) and Ahmed Shaheen, Additional Managing Director of Eastern Bank Plc.
