BIAC Bulletin April-June 2019 · BIAC formally started its operation on 9th April 2011. It is an ADR service-provider organization, facilitating resolution of domestic and international

Quarterly BulletinVolume 8 Number 2 April-June 2019

Encouraged by Bangladesh public policy and growing requirement of businesses to settle disputes outside court system, International Chamber of Commerce Bangladesh (ICC-B), the world business organization and two prominent business chambers of Bangladesh namely, Metropolitan Chamber of Commerce & Industry (MCCI), Dhaka and Dhaka Chamber of Commerce & Industry (DCCI) obtained a license from the Government in 2004 to establish the Bangladesh International Arbitration Centre (BIAC) as a not-for-profit organization.

BIAC formally started its operation on 9th April 2011. It is an ADR service-provider organization, facilitating resolution of domestic and international commercial disputes in an expeditious and amicable manner, through Arbitration and Mediation. BIAC has its own Arbitration and Mediation Rules. BlAC’s Panel of Arbitrators consists of 12 eminent jurists among them 5 are former Chief Justices of Bangladesh. 38 experts and trained Mediators are in BlAC’s list of Mediators. BIAC has developed all the facilities required for systematic and comfortable Arbitration and Mediation and has handled 278 ADR hearings till date.

BIAC offers excellent facilities for Arbitration hearings and Mediation meetings, including two state-of-the-art meeting rooms with audio-aids and recording facilities, arbitrators’ chambers, private consultation rooms, transcription and interpreter services. BIAC provides all necessary business facilities like video conferencing, powerful multimedia projection, computer and internet access, printing and photocopying. Full-fledged secretarial services and catering service are also available on request.

As the only ADR institution in the country, apart from facilitating Arbitration and Mediation, BIAC also provides training courses on ADR, especially Arbitration, Mediation and Negotiation.

BIAC has taken initiative of providing specialized ADR training courses for different sectors, for instance, ADR in Artha Rin Adalat Ain, ADR in Procurement Disputes, ADR in Human Resource Management and others. BIAC also organizes training programmes abroad jointly with those ADR centres which BIAC has signed collaboration agreements with. Till date, BIAC has organised 32 arbitration training courses, 19 mediation training courses and 9 negotiation training courses and trained 1371 participants.

From the very beginning, BIAC has been working hard to create awareness about ADR facilities by conducting several outreach programmes, seminars, workshops and dialogues. BIAC has arranged 107 workshop/seminar/dialogues as of 30 June 2019. BIAC has received recognition by signing cooperation agreement with 17 International ADR Centres, namely, The Permanent Court of Arbitration (PCA), SAARC Arbitration Council (SARCO), Asian International Arbitration Center (AIAC), Vietnam International Arbitration Centre (VIAC), Malaysia Arbitration Tribunal Establishment (MATE), Thailand Arbitration Center (THAC), Singapore International Arbitration Centre (SIAC), Indian Institute of Arbitration and Mediation (IIAM), Hong Kong Mediation Center (HKMC), Mainland-Hong Kong Joint Mediation Center (MHJMC), Hong Kong International Arbitration Centre (HKIAC), Institute for the Development of Commercial Law and Practice (ICLP) Sri Lanka, Bombay Chamber of

Commerce & Industry (BCCI) , India, Bridge Mediation and Consulting Pvt. Ltd., India, International Commercial Arbitration Service Center of Kunming (KICASC), China, Badan Arbitrase Nasional Indonesia (BANI), The Philippine Institute of Arbitrators (PIArb).

Moreover, 24 leading corporate companies, banks, real estate, NGO, universities, law firm and financial institutions have signed Memorandum of Understanding (MoU) to seek BlAC’s assistance in matters related to ADR, namely, Green Delta Insurance Company Limited, Building Technologies and Ideas Ltd. (bti), Friendship Bangladesh , The City Bank Limited (CBL), First Security Islami Bank Limited (FSIBL), Dhaka Bank

Limited (DBL ), Eastern Bank Limited (EBL), Islami Bank Bangladesh Ltd. (IBBL), Mutual Trust Bank Ltd (MTB), IFIC Bank Limited, Mars Financial And Legal Consultancy Limited (MARS), Anwar Group of Industries (AGI), Apex Group of Companies, International Centre for Diarrhoeal Disease Research, Bangladesh (icddr’b), RANGS Group, Skayef Bangladesh Limited (SK+F), Summit Alliance Port Ltd., TRANSCOM LIMITED, University of Liberal Arts Bangladesh (ULAB), Prime Bank Limited, London College of Legal Studies (South), Rahman & Rabbi Legal, London College of Legal Studies (North) and AB Bank Ltd.

BIAC QUARTERLY BULLETIN April-June 2019

STATISTICS SINCE INCEPTION

1371Participants

trained by BIACtill now 38

Mediators underBIAC List of

Mediators

278ADR

Hearings heldin BIAC

107Outreach

Programmesorganised12

Arbitratorsunder BIAC

Panel

60Training Courses

conducted byBIAC

24National

CooperationAgreements

signed

17InternationalCooperationAgreements

signed

MISSION

BIAC aims to embed the use of ADR as a commercial best practice to help/assist/facilitate creation of an ecosystem that fosters investment and is conducive to business

VISION

BIAC is committed to be a credible and a sustainable national institution that aims to offer international commercial best practices on ADR service to individual and institutions seeking to resolve commercial dispute

Mahbubur Rahman

Latifur Rahman

Nihad Kabir

Osama Taseer

Suvastu Tower (6th Floor), 69/1, Pantha Path, Dhaka-1205, Bangladesh. Tel: +8802-964-1071; 964-1072Fax: +8802-964-1074; URL: www.biac.org.bd; E-mail: [email protected], [email protected]

Chairman

BIAC Board

Muhammad A. (Rumee) AliChief Executive Officer

M A Akmall Hossain AzadDirector

Mahbuba Rahman RunaSenior Counsel

Md. Ashiqur RahmanManager (Accounts & Finance)

Rubaiya Ehsan KarishmaCounsel

Syed Shahidul AlamAdministrative Officer

Shahida Parvin Office Executive

BIAC Management

Editor

M A Akmall Hossain Azad

Editorial Associates

Mahbuba Rahman RunaRubaiya Ehsan Karishma

Members

On behalf of the editorial team of the BIAC Quarterly Bulletin I am happy to present its 2nd issue of 2019. Our humble effort is to make this publication informative by sharing activities and achievements of Bangladesh International Arbitration Centre (BIAC) during the last quarter, i.e., April-June 2019 as well as local and international news items, articles and interviews which are timely and useful to our valued readers, partners, patrons and well wishers.

As the country’s first and only licensed Alternative Dispute Resolution (ADR) institution BIAC, since its inception in April 2011 is trying to facilitate methods of ADR, especially arbitration and mediation in order to help resolve commercial disputes outside Courts in a cost effective and expeditious manner which also aims at lessening the burden of our judiciary backlogged with colossal volume of under-trial cases. BIAC is also trying to build a human resource base through training officials and personnel from banks and financial institutions, the Judiciary, Civil Service, lawyers, business community, academicians and students of Law and Business. The focus is on commercial disputes and the way forward to resolve them to help create a better doing business environment in the country by raising awareness on the need to integrate ADR in the dispute resolution eco system.

The 21st century is considered to be the Asian Century in terms of ever growing economic activities and achievements in the region. Bangladesh has been ranked 41st among the world's largest economies in 2019, moving up two notches from last year's, we have become the second biggest economy in South Asia. Our current GDP growth rate is 8.13%. We are optimistic that the country will achieve double-digit GDP growth within the next four years. Achieving double-digit growth will be possible if we all work together. We offer BIAC as a platform to join forces in this regard.

From the Editor

BIAC News 04International News 13Articles 16Interviews 19Med-Arb Clause of BIAC 21BIAC Membership 22Events News 23

BIAC Quarterly BulletinVol. 8, Number 2, April-June 2019

Contents

04


BIAC News

H.E. Mr. Harry Verweij, Ambassador of the Kingdom of the Netherlands to Bangladesh visited Bangladesh International Arbitration Centre (BIAC) on 4 April 2019 in the afternoon. He was welcomed by the Chairman Mr. Mahbubur Rahman and the CEO Mr. Muhammad A. (Rumee) Ali. The Ambassador was given a tour of the BIAC premises and Director Mr. M A Akmall Hossain Azad in a briefing session delivered a presentation on the emergence and activities of BIAC. The presentation was an interactive one where the CEO pointed out why ADR is a need in our country, particularly in the case of attracting more FDI. Mr. Muhammad A.(Rumee) Ali informed the Ambassador about the tripartite committee convened by the Bangladesh Bank to draft ADR Guidelines for banks, which has made notable progress recently. Ms. Mahbuba Rahman Runa, Senior Counsel, BIAC updated the Ambassador about the training courses BIAC offers and is going to organise this year. BIAC has cooperation agreement with the Permanent Court of Arbitration (PCA), an inter Governmental institution situated in the Hague, the Netherlands and has been given the appointing authority for an arbitration administered by the PCA, the Ambassador was told in the briefing session.

Director, BIAC informed the Dutch Ambassador that a high level inter-ministerial meeting held on 4 October 2018 at the Ministry of Commerce discussed

about the proposed Host Country Agreement (HCA) with the PCA, the Hague. It was also discussed in the meeting that strengthening cooperation between the PCA and national and regional ADR institutions including BIAC and facilitating the exchange of expertise should be the main thrust of the proposed HCA with the PCA. Senior Secretary,

Ministry of Commerce lauded BIAC’s multifarious activities towards help implement best practices of ADR in the country as well as carrying out extensive networking and training programs at home and abroad. Director, BIAC emphasized institutional arbitration and told the meeting that as the only Government recognized and licensed ADR institution BIAC will do its best as soon as an HCA is signed with the PCA which will definitely increase domestic and regional awareness of arbitration and other methods of dispute settlement offered by the PCA.

The Dutch Ambassador appreciated the interaction with the BIAC team and congratulated BIAC on its hard work and achievements so far. He said that the Embassy aims to enhance trade volume between Bangladesh and Foreign Investors. Generating more awareness about the existence of ADR mechanisms to address trade issues will encourage investors, he added. His Excellency also said that the Embassy of the Kingdom of the Netherlands in Bangladesh will recognise BIAC by promoting BIAC’s web. The Netherlands is one of the top 10 foreign investor countries in Bangladesh. While many wrongly perceive ADR as a step before going to courts instead of a means of resolution of conflict, in the Netherlands, the culture is more ADR friendly. More than 95% of the civil suits are resolved before evidence is presented in courts in the Netherlands.

Ambassador of the Netherlands visits BIAC4 April 2019

05


It was wonderful to have Mr. Ajmalul Hossain QC, Barrister-at-Law, Senior Advocate, Supreme Court of Bangladesh and Head of A. Hossain & Associates and Mr. Shameem Ahmad Raihanuddin, CEO of Eshna Consulting Team Ltd. at BIAC today.

BIAC CEO, Mr. Muhammad A. (Rumee) Ali held discussion with the guests and explored possibilities of promoting Bangladesh as a seat of Arbitration for international commercial arbitration involving at least one Bangladeshi party.

A Memorandum of Understanding (MoU) was signed recently between International Commercial Arbitration Service Center of Kunming (KICASC) and Bangladesh International Arbitration Centre (BIAC) in which both parties had shown their intention to discuss and explore the possibilities of international arbitration, jointly organising seminars, training and workshops and consider KICASC as an alternate venue for arbitration. The MoU was signed by BIAC CEO Mr. Muhammad A. (Rumee) Ali and Mr. Li Heliu, Director of Kunming Economic and Technological Development Zone. The instrument of MoU was exchanged by Mr. Li Heliu and Ms.

Mahbuba Rahman Runa, Senior Counsel, BIAC on behalf of their respective institutions at a simple ceremony held in Kunming, China, on 23 April 2019.

BIAC signs MoU with International Commercial Arbitration Service Center of Kunming (KICASC)23 April 2019

Discussion held at BIAC for promoting Bangladesh as seat of Arbitration21 April 2019

Disputes. She expressed her gratitude to KICASC and believed that BIAC and KICASC will continue to maintain mutual liaison and help progress the ADR scenario in both Bangladesh and China. Mr. Li Hu, Deputy Secretary General of China International Economic and Trade Arbitration Commission (CIETAC) also presented an introduction of their organisation. Ms. He Yunhong, Secretary of the working committee of the Kunming Economic & Technological Development Zone (KETDZ) indicated how their organisation undertakes research on arbitration to make it popular.

On 25 April 2019 the graduation ceremony commenced with the speech of host Ms. Zhang Jingmei, Director General of the KICASC. Ms. Mahbuba Rahman, Senior Counsel of BIAC gave her vote of thanks to everyone and hoped that the participants will apply this experience in their respective fields of work. She also expressed her wish to have a stronger connection and support from KICASC.

Two participants were called on the stage to share their experience. Bangladeshi participant Mr. Md Golam Sorwar Bhuiyan, Project Director of Basic Infrastructure for HI Tech Park Sylhet (Sylhet Electronic City) vowed to ameliorate the relationship between China and Bangladesh so that Chinese investors may come forward to invest in the HI Tech Park in Sylhet. The other participant from China Mr. Adam Fu, Attorney-at-Law, Head of CITGP and Advisor to KICASC expressed his sincere gratitude to all the organisers who helped the program to be a success and hoped a better relationship to be grown between China and Bangladesh by virtue of international commercial arbitration.

Mr. Li Heliu, Director of Kunming Economic &

Technological Development Zone (KETDZ) Administrative Committee also thanked the organisers for the successful session and congratulated the participants who completed the training. Moreover, he provided a summary regarding the history and current scenario of KETDZ. He furthermore hoped that this platform would be a springboard to be used to further enhance the international business environment and promote economic and trade exchanges and investment cooperation between the two countries.

Mr. Xu Zhenfeng, Director of the Kunming Municipal Bureau of Commerce upheld the high quality trainers, mentioned the sophistication of the contents of the training materials, praised the trainers for the teaching and highlighted the abundance of achievements from the session.

A total of 18 participants from Bangladesh participated. The participants included officials from Bangladesh Bank, representatives from commercial banks, prominent lawyers and corporate officials. They were given consultant appointment of KICASC. 22 participants were from China. Amongst them were eminent arbitrators, lawyers and esteemed university faculty members.

Certificates were distributed among the Bangladeshi and Chinese participants. Barrister Imtiaz Farooq and Barrister Nabil Ahsan were the trainers from Bangladesh, while Mr. Chen Yundong, Professor, School of Law, Yunnan University, Kumming, China was the trainer from China.

The local news channel in Kunming Broadcasting and national channels of China conducted interviews with the participants including Senior Counsel of BIAC Ms. Mahbuba Rahman.

China International Economic and Trade Arbitration Commission (CIETAC) and Kunming International Commercial Arbitration Service Centre (KICASC) suggested that Dhaka may be the seat of Arbitration for resolving disputes involving Chinese investors and joint ventures in Bangladesh. The suggestion came in a training programme on China-Bangladesh International Arbitration at a hotel in the Kunming Economic and Technology Development Zone, Kunming, China jointly organized by Bangladesh International Arbitration Centre (BIAC) and Kunming International Commercial Arbitration Service Centre (KICASC) on 22-26 April 2019. The training programme was coordinated by Yunnan-Bengal Business Information Consultation Co. Ltd of China and Bangladesh. Further in a meeting held between Ms. Zhang Jingmei, the Director of the KICASC, Ms. Mahbuba Rahman Runa, Senior Counsel, BIAC and Mr. Li Hu, Deputy

Secretary General of CIETAC, it was decided that cases of CIETAC and KICASC in Bangladesh will be referred to BIAC to administer the cases. BIAC will sign cooperation agreement with CIETAC. Moreover CIETAC showed interest of adding Bangladeshi Arbitrators in their panel referred by BIAC. The same can be done on behalf of BIAC. In the training programme Senior Counsel of BIAC informed the participants about the membership of BIAC in which they had shown keen interest.

Ms. Zhang Jingmei, Director General KICASC delivered welcome speech in which she expressed her intention to further strengthen the relationship between KICASC and BIAC and hoped that the training session will be fruitful while Ms. Mahbuba Rahman, Senior Counsel, BIAC delivered her speech with a presentation on Introduction of BIAC with its recent activities in promotion of ADR in Commercial

Dhaka may be the seat of Arbitration of Chinese investors in Bangladesh26 April 2019

06


Disputes. She expressed her gratitude to KICASC and believed that BIAC and KICASC will continue to maintain mutual liaison and help progress the ADR scenario in both Bangladesh and China. Mr. Li Hu, Deputy Secretary General of China International Economic and Trade Arbitration Commission (CIETAC) also presented an introduction of their organisation. Ms. He Yunhong, Secretary of the working committee of the Kunming Economic & Technological Development Zone (KETDZ) indicated how their organisation undertakes research on arbitration to make it popular.

On 25 April 2019 the graduation ceremony commenced with the speech of host Ms. Zhang Jingmei, Director General of the KICASC. Ms. Mahbuba Rahman, Senior Counsel of BIAC gave her vote of thanks to everyone and hoped that the participants will apply this experience in their respective fields of work. She also expressed her wish to have a stronger connection and support from KICASC.

Two participants were called on the stage to share their experience. Bangladeshi participant Mr. Md Golam Sorwar Bhuiyan, Project Director of Basic Infrastructure for HI Tech Park Sylhet (Sylhet Electronic City) vowed to ameliorate the relationship between China and Bangladesh so that Chinese investors may come forward to invest in the HI Tech Park in Sylhet. The other participant from China Mr. Adam Fu, Attorney-at-Law, Head of CITGP and Advisor to KICASC expressed his sincere gratitude to all the organisers who helped the program to be a success and hoped a better relationship to be grown between China and Bangladesh by virtue of international commercial arbitration.

Mr. Li Heliu, Director of Kunming Economic &

Technological Development Zone (KETDZ) Administrative Committee also thanked the organisers for the successful session and congratulated the participants who completed the training. Moreover, he provided a summary regarding the history and current scenario of KETDZ. He furthermore hoped that this platform would be a springboard to be used to further enhance the international business environment and promote economic and trade exchanges and investment cooperation between the two countries.

Mr. Xu Zhenfeng, Director of the Kunming Municipal Bureau of Commerce upheld the high quality trainers, mentioned the sophistication of the contents of the training materials, praised the trainers for the teaching and highlighted the abundance of achievements from the session.

A total of 18 participants from Bangladesh participated. The participants included officials from Bangladesh Bank, representatives from commercial banks, prominent lawyers and corporate officials. They were given consultant appointment of KICASC. 22 participants were from China. Amongst them were eminent arbitrators, lawyers and esteemed university faculty members.

Certificates were distributed among the Bangladeshi and Chinese participants. Barrister Imtiaz Farooq and Barrister Nabil Ahsan were the trainers from Bangladesh, while Mr. Chen Yundong, Professor, School of Law, Yunnan University, Kumming, China was the trainer from China.

The local news channel in Kunming Broadcasting and national channels of China conducted interviews with the participants including Senior Counsel of BIAC Ms. Mahbuba Rahman.

China International Economic and Trade Arbitration Commission (CIETAC) and Kunming International Commercial Arbitration Service Centre (KICASC) suggested that Dhaka may be the seat of Arbitration for resolving disputes involving Chinese investors and joint ventures in Bangladesh. The suggestion came in a training programme on China-Bangladesh International Arbitration at a hotel in the Kunming Economic and Technology Development Zone, Kunming, China jointly organized by Bangladesh International Arbitration Centre (BIAC) and Kunming International Commercial Arbitration Service Centre (KICASC) on 22-26 April 2019. The training programme was coordinated by Yunnan-Bengal Business Information Consultation Co. Ltd of China and Bangladesh. Further in a meeting held between Ms. Zhang Jingmei, the Director of the KICASC, Ms. Mahbuba Rahman Runa, Senior Counsel, BIAC and Mr. Li Hu, Deputy

Secretary General of CIETAC, it was decided that cases of CIETAC and KICASC in Bangladesh will be referred to BIAC to administer the cases. BIAC will sign cooperation agreement with CIETAC. Moreover CIETAC showed interest of adding Bangladeshi Arbitrators in their panel referred by BIAC. The same can be done on behalf of BIAC. In the training programme Senior Counsel of BIAC informed the participants about the membership of BIAC in which they had shown keen interest.

Ms. Zhang Jingmei, Director General KICASC delivered welcome speech in which she expressed her intention to further strengthen the relationship between KICASC and BIAC and hoped that the training session will be fruitful while Ms. Mahbuba Rahman, Senior Counsel, BIAC delivered her speech with a presentation on Introduction of BIAC with its recent activities in promotion of ADR in Commercial

A team from the International Labour Organisation (ILO) Country Office for Bangladesh visited BIAC Secretariat on 30 April 2019 to explore synergies between BIAC and ILO project activities on Labour Dispute Resolution issues in Bangladesh. The ILO team was led by Mr. Neeran Ramjuthan, Chief Technical Adviser, ILO Social Dialogue and Industrial Relations Project, while Mr. Uttam Kumar

Das, Programme Officer and Mr. Saifullah of the same Project accompanied. During a brief discussion meeting between the ILO team and BIAC, recent activities and achievements of BIAC towards facilitating Alternative Dispute Resolution (ADR) in the country were highlighted by the BIAC team comprising Mr. M A Akmall Hossain Azad, Director, Ms. Mahbuba Rahman, Senior Counsel and Ms. Rubaiya Ehsan Karishma, Counsel of BIAC. Both the organisations discussed possibilities of mutual

collaboration in terms of training programmes, workshops and cooperation in the field of arbitration, mediation, negotiation and conciliation as regards resolution of labour disputes. The ILO team informed that a 6 country Regional Workshop will be held by ILO in Dhaka in July 2019 where BIAC will be invited to make valuable contribution. Director, BIAC said that BIAC looks forward to effectively participating in the proposed workshop.

International Labour Organisation (ILO) team visits BIAC30 April 2019

BIAC signs MoU with AB Bank Limited 29 April 2019

07


Bangladesh International Arbitration Centre (BIAC) has recently signed a Memorandum of Understanding (MoU) with the AB Bank Limited with a view to recognizing the effectiveness of Alternative Dispute Resolution (ADR) in contractual disputes and to discuss and explore the possibilities of both the organisations’ endeavours for mutual benefit. The Instrument of MoU was exchanged by Mr. Tarique Afzal, President and Managing Director of AB Bank Limited and Mr. M A Akmall Hossain Azad, Director, BIAC in a simple ceremony at the ABBL Corporate office in Dhaka on 29 April 2019. It was also attended by ABBL Deputy Managing Directors Mr. Sajjad Hussain and Mr. Reazul Islam, Head of Legal & Real Estate Mr. SM Musa Karim, Head of

HRMD Ms. Shamsia I Mutasim, Head of Consumer Banking Syed Mizanur Rahman and Head of Corporate Affairs Ms. Tania Sattar Khan and BIAC Counsel Ms. Rubaiya Ehsan Karishma.

Pursuant to the last meeting of the Committee on Guideline to Resolve Financial Disputes in Banking Institutions using Alternative Dispute Resolution, held on 27 March 2019 at BIAC with Bangladesh

Bank (BB), Association of Bankers, Bangladesh (ABB) and BIAC, the draft guideline has been revised. To discuss the changes a meeting was held on 2 May 2019 under the leadership of Mr. Muhammad A. (Rumee) Ali, CEO, BIAC, Chaiman of the Committee. Messrs Kaiser A. Chowdhury, Sohail RK Hussain and Shafayat Ullah participated in this meeting. Changes incorporated since the last meetings were discussed through a presentation made by Ms. Rubaiya Ehsan Karishma, Counsel, BIAC. The committee explored the possibility that BIAC should prepare

specialised Rules for Mediation and Arbitration for Banks in Bangladesh to facilitate the quick implementation of this guideline subject to approval from the central bank.

Meeting on draft of ADR guidelines held 2 May 2019

08


It was a pleasure to welcome H.E. Ms. Charlotta Schyler, Ambassador of Sweden to Bangladesh, H.E. Ms. Winnie Estrup Petersen, Ambassador of Denmark to Bangladesh and H.E. Ms. Sidsel Bleken, Ambassador of Norway to Bangladesh to BIAC on 5 May 2019 in the afternoon. BIAC Chairman Mr. Mahbubur Rahman welcomed the Ambassadors to BIAC followed by a presentation on the importance of ADR and emergence of BIAC by the CEO Mr. Muhammad A. (Rumee) Ali. Director, BIAC Mr. M A Akmall Hossain Azad, delivered a presentation on the activities and achievements of BIAC over the years. Ms. Mahbuba Rahman Runa, Senior Counsel, BIAC shared her perspective on the importance of creating a human resource capacity in the country. Ms. Rubaiya Ehsan Karishma, Counsel, BIAC mentioned how BIAC can assist potential investors in protecting themselves against the risk of Non Performance of contracts.

Mr. Ali pointed out that the present process of loan recovery of financial institutions under the Money Loan Court Act 2003 aims at recovery of bad debts through liquidation of impaired assets. It is considered that in many situations recovery through a going-concern concept is a better option for the economy and other stakeholders.

BIAC Chairman Mr. Mahbubur Rahman mentioned that the presence of a licensed ADR option in enforcement of contracts is

not well-known among the foreign investors. He requested the Ambassadors that the Embassies can play an important role in helping BIAC to disseminate this information to potential investors. The Ambassadors appreciated the effort BIAC continues to make in the country and are willing to assist in the advocacy of ADR.

Mr. Anwar-Ul Alam Chowdhury Parvez, President of Bangladesh Chamber of Industries and Managing Director of Evince Group, encouraged the Ambassadors to get more involved which in turn will also encourage the Government to take ADR forward. Other distinguished guests present were Ms. Rokia Afzal Rahman, Vice President, International Chamber of Commerce-Bangladesh, Mr. Md. Fazlul Hoque, Managing Director of Plummy Fashions Limited, Ms. Parveen Mahmud FCA, Chairman, UCEP Bangladesh and Mr. Ataur Rahman, Secretary General, International Chamber of Commerce-Bangladesh.

Scandinavian Ambassadors visit BIAC5 May 2019

09


Presenting a keynote paper on 'New Innovations in Alternative Dispute Resolution (ADR) by arbitral institutions' Mr. M Shahidul Haque, Senior Secretary, Legislative and Parliamentary Affairs Division briefed foreign investors on benefits of using Dhaka as a seat of Arbitration in the two day long 2nd International ADR Conference beginning on 13 May 2019 in Bangkok. The event was organised by Thailand Arbitration Center (THAC) where Bangladesh

International Arbitration Centre (BIAC) was the supporting organisation. Delegates from around 20 countries and 50 organisations, law firms and a number of experts on ADR from throughout the globe participated in the conference.

In his deliberation the Senior Secretary lauded the role of BIAC by creating awareness on ADR and training people to develop a pool of ADR professionals. He mentioned that BIAC’s rules for Arbitration and Mediation can be used effectively in resolution of commercial

disputes out of Court in Bangladesh. 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 participated at the Conference representing Bangladesh Bank, City Bank, Janata Bank, Krishi Bank, Islami Bank Bangladesh, IDCOL and a practicing lawyer along with Mr.Tarique Afzal, Managing Director of AB Bank and BIAC Director Mr. M A Akmall Hossain Azad.

Azad on behalf of their respective institutions. Under the MoA both parties agreed to cooperate and participate in formulated programmes and initiatives aimed at facilitating capacity building within the Philippines and within Bangladesh in ADR, particularly as to the handling of local and international arbitrations. The function was attended among others by Mr. Pasit Asawawattanaporn, M D, THAC and Mr. Tarique Afzal, M D, AB Bank Limited.

Foreign investors briefed on benefits of using Dhaka as a seat of Arbitration13 May 2019

A Memorandum of Agreement (MoA) was signed between Philippine Institute of Arbitrators (PIArb), the Philippines and BIAC on 13 May 2019 at a simple ceremony in Bangkok, Thailand during the 2nd

International ADR Conference organised by Thailand Arbitration Center (THAC) and supported by BIAC. The MoA was signed by Vice Chairman of PIArb. Mr. Jared Amoroso and Director of BIAC Mr. M A Akmall Hossain

BIAC signs Memorandum of Agreement with PIArb, the Philippines.13 May 2019

they be accommodated in the event of a dispute? Failure to include them in the disputes clause could potentially lead to various disputes in different forums, resulting in inconsistent outcomes. Thus, always consider whether the contract creates rights for, or obligations to, other third parties and if such parties need to be accommodated in any disputes process. In this regard, consideration should also be given to having a uniform dispute structure encompassing different parties. This can be important where there are chains of contracts such as those involving owners, contractors and subcontractors. Different dispute processes in each contract can cause undesirable results, and inefficient dispute resolution.

B. Clearly Define the Scope of the Disputes Clause.

The parties need to be clear that the dispute clause is applicable the disputes that they want it to cover. Most disputes clauses will cover all disputes, with disputes being defined broadly as any differences between the parties. Further, the scope will not simply be contractual disputes, but all disputes arising out of or related to the contract and the project it covers. By such language tort claims will also be covered. But there are situations where the scope might be more tailored and narrow. Care needs to be taken in these situations to ensure that proper definition of the scope is established.

C. Define Clearly Dispute Resolution Process

The dispute clause must define clearly and simply the dispute resolution process. Clauses that are pathological i.e., ones that inconsistently call for both litigation and arbitration will be unenforceable.

There are a number of factors to be considered here, some of which are esoteric e.g. benefits between different arbitration institutional rules. Nevertheless, the goal must be to enumerate without contradictory language the methodology for resolving the dispute via any defined intermediary steps up to a final dispute resolution process. This choice is sometimes defined by the applicable law in the context of the transaction. For example, United States recent Court decisions are impacting the application of arbitration clauses in consumer and person financial services contracts. But when dealing with an international contract with a foreign government, do you want to be before that foreign nation's courts for resolving disputes? And, if arbitration is chosen, thought needs to be given to how it is achieved efficiently and effectively, or whether the parties merely desire "privatized litigation". For consideration of these issues and how the dispute clause might work under the BIAC Rules, for example, it may be worth a call to BIAC to discuss their rules and how they operate.

One consideration is whether a tiered dispute clause might be desirable i.e., a clause that provides condition precedents beginning perhaps with senior management negotiations, then if that fails to resolve the point, then mediation until a final resolution process such as BIAC arbitration. Or a clause that divides the dispute process based upon value of the matter in dispute. Tiered clauses are frequently used in long-term outsourcing contracts where the value of the on-going relationship is particularly important. Or is a tiered clause not needed because courts now require mediation (perhaps a bank/customer transaction agreement) before a hearing and the mediation process is good and works? If a tiered approach is taken, however, clear time lines are needed so that the dispute process does not become unduly delayed in the hands of a recalcitrant disputant. An alternative to a tiered clause might be a clause that provides for Dispute Review Board or a Dispute Resolution Board. Knowing the difference between the two is important.

The place for meetings for negotiations, mediation and the place of final determination, the selection of a mediator and, particularly in an international context, the language to be used in dispute resolution, can all be of importance and require careful consideration. But they are easily solved.

A choice for arbitration as the final dispute mechanism also brings with it other elements to consider. These include: how the arbitrator or arbitrators will be appointed; whether the arbitrators need any particular skill set to serve (i.e., do you need engineering experts or some others); is the arbitration to be institutional or ad hoc (and if ad hoc, what support or delay will one encounter from the courts as compared to institutional rules providing for appointment of arbitrators or the resolution of procedural questions); what discovery rights there may be in any arbitration—whether under the guidance of, for example, IBA Rules on the Taking of Evidence in International Arbitration –and how might an audit clause giving one party access to documents interrelate to the disputes discovery process. Similarly, is the privacy of arbitration enough or is confidentiality also needed? And, what is the time frame. Do you want a hard and fast limit for the hearing of the matter and have the hearing in a single block of time? This can be done. But needs consideration carefully. There is also, of course, the issue of cost. But here is my take on that: a penny spent may be a pound saved, or several thousands or more. Yes, while arbitration involves the payment of the arbitrators, it is wise to consider the time, effort and resources spent in court delays.

I spent 5 weeks in Dhaka a few years ago, teaching arbitration under the auspices of a Bangladesh International Arbitration Centre (“BIAC”) programme. It was an experience I will never forget for two reasons: First, the students (all lawyers and business professionals) were all interested and engaged. I made many friends. And, second, I got to experience first-hand the joys (the national language festival) and the issues (the Dhaka traffic) of Bangladesh. This latter got me thinking about dispute resolution.

Imagine driving down Minto Road in Dhaka only to hear on the radio of a massive traffic backup. Far worse than usual. What do you do? You have a choice. You have either the opportunity to avoid it, or to simply accept it. Given a choice most rational people would seek to avoid the traffic jam: to take a different route. This different route to avoid a road block is exactly what is available to businesses in Bangladesh via alternative dispute resolution, especially with the emergence of institutions like BIAC. The proper and intelligent use of an ADR clause in a contract can avoid plunging the parties, should a dispute arise, into the delays and unruly procedures of a court trial. Instead, the parties can fashion a dispute process that works for them, and their situation and which seeks to ensure swift and effective resolution of a problem that arises. But the best time to do so, is when you enter into the contract. So, my message to those of you involved in negotiating contracts is simple: do not forget about the disputes clause.

1. In the Atmosphere of Creating a Deal, No One Wants to Discuss Disputes

This is easier said than done. Contracts are entered into when there are good relations between parties, and when neither party wishes to consider the possibility of a dispute. Discussing disputes at the negotiation of the deal stage is often seen as the stereotypical "pre-nup" situation, awkward and unnecessarily foreboding. Given this atmosphere, the contracting parties often overlook the disputes clause. They tend to either not consider it at all, or consider it only marginally. This is short-sighted for a number of reasons. Without a solid disputes clause, both parties may incur significant costs

and lose valuable time in trying to resolve matters. Worse, they may find themselves trying to settle the disputes in a forum they neither chose nor find hospitable. Let me give an example from a case we had. A Turkish party entered into a contract under which it was to bid a construction project as a partner with an Afghan entity. The contract provided that if the bid was won (using the Turkish party’s bid numbers for its part of the work) the Turkish party would be hired to perform that part of the work. The bid was successful. The Afghan party, in clear violation of the agreement, used someone else. There was no dispute clause (or governing law clause) in the contract. The contact was with a United States prime contractor. So, the option was sue in Afghanistan (unpalatable) or in Turkey or possibly the U.S., though in each it may be a pyrrhic victory leading to an unenforceable foreign default judgment. Ultimately, the client took the business decision that it would simply not pursue its rights. This is the example of not having a dispute clause—an issue especially with international contracts. But even if there is one, the process of a "bad" disputes clause can itself exacerbate problems and add to a breakdown in relations. In the event a dispute does arise, an efficient and expeditious contractual disputes process can frequently assist parties in resolving problems quickly and further improve and strengthen their relationship in the event other issues arise.

2. The Issues to Consider in Drafting a Disputes Clause

Depending on the type of agreement, a disputes clause can be more or less complicated. But regardless of whether the agreement involved is a multi-million dollar international transaction or a small commercial agreement between two parties, there are particular matters that should be considered:

A. Identify the Parties who might need to use the Disputes Clause.

This will generally be the two parties to the contract. However, in some instances, there may be third party beneficiaries or multiple parties to the contract or even multiple intertwined contracts. How exactly should

3. Conclusion

The failure of parties to properly consider a dispute clause that will work effectively and efficiently in the context of their specific transaction can have significant consequences in terms of (a) delay in resolving a dispute (b) added managerial and legal costs to resolve the dispute (c) and having the dispute heard in the wrong forum which could ultimately lead to an undesirable outcome. Parties in Bangladesh now have at their fingertips the resources, via BIAC, to consider and to adopt ADR processes that should streamline and make more cost-effective and timely the resolution of their problems, outside of the Courts—while covered by the authority of the Bangladesh Arbitration Act.

Consideration of dispute clauses at the outset gives parties the control to craft the process as they want it within the bounds of the applicable law, which can greatly assist and ease the process of resolving disputes. I urge those negotiating contracts in Bangladesh to give consideration to this and to utilize

the resources available to them to assist their commercial decision making regarding how their disputes get resolved.

-------------------------------------------------------------------------

* Mr. McHugh is a lawyer with the firm Bailey Law pc in Washington, DC. He has represented clients in domestic and international arbitrations under AAA, ICDR, ICC, LCIA and ad hoc rules. He has counseled parties on international investment treaty rights and advised on dispute provisions in international contracts. He has advised numerous clients in mediations relating to both U.S. domestic and international projects and he has successfully resolved disputes in mediation and through direct negotiations on favorable terms. Mr. McHugh is a qualified UK solicitor, and is admitted for practice in District of Columbia, the State of New York, England and Wales. Prior to working at Bailey Law, he worked in the City of London for Clifford Chance. Mr. McHugh has an LL.B.(Honours), from the London School of Economics and Political Science in 1988.

A Memorandum of Cooperation (MoC) was signed between Badan Arbitrase Nasional Indonesia (BANI) and BIAC on 13 May 2019 at a simple ceremony in Bangkok, Thailand during the 2nd International ADR Conference organised by Thailand Arbitration Center (THAC) and supported by BIAC. The MoC was signed by Chairman of BANI Mr. Husseyn Umar and Director of BIAC Mr. M A Akmall Hossain Azad on behalf of their respective institutions. Under the MoC both parties agreed to establish linkage and cooperation to maximize utilisation of their resources through mutual cooperation and sharing of expertise and efforts in training and promotion to advance arbitration and ADR methods in their respective countries. The function was attended among others

by Mr. Pasit Asawawattanaporn, M D, THAC and Mr. Tarique Afzal, M D, AB Bank Limited.

BIAC signs Memorandum of Cooperation with BANI Arbitration Center, Indonesia.13 May 2019

10


Azad on behalf of their respective institutions. Under the MoA both parties agreed to cooperate and participate in formulated programmes and initiatives aimed at facilitating capacity building within the Philippines and within Bangladesh in ADR, particularly as to the handling of local and international arbitrations. The function was attended among others by Mr. Pasit Asawawattanaporn, M D, THAC and Mr. Tarique Afzal, M D, AB Bank Limited.

Bangladesh aims at becoming one of the regional ADR friendly jurisdictions17 June 2019

A Memorandum of Agreement (MoA) was signed between Philippine Institute of Arbitrators (PIArb), the Philippines and BIAC on 13 May 2019 at a simple ceremony in Bangkok, Thailand during the 2nd

International ADR Conference organised by Thailand Arbitration Center (THAC) and supported by BIAC. The MoA was signed by Vice Chairman of PIArb. Mr. Jared Amoroso and Director of BIAC Mr. M A Akmall Hossain

Ms. Nuzhat Anwar, Acting Country Manager & Senior County Officer, IFC/World Bank Group, Dhaka, stressed that we need a reliable credit infrastructure with efficient procedures so we can continue to

work towards improving the country’s business environment. She also highlighted IFC’s work with the Government of Bangladesh to develop the concept of ADR and expedite the settlement process.

Syed Mahbubur Rahman, Chairman, Association of Bankers Bangladesh (ABB) and Managing Director & CEO of Dhaka Bank Ltd stated that BIAC is the first international arbitration institution in the Country

which is providing state-of-the-art arbitration facilities and is working independently to resolve financial disputes through ADR.

In his presentation Sheikh Mohammad Maroof, Acting CEO of the City Bank Limited narrated the case of Bangladesh as regards the current debt resolution mechanism and practices and emphasized the

need of ADR for such resolution.

Ms. Nina Mocheva, Senior Financial Sector Specialist, Debt Resolution & Insolvency, Credit Infrastructure Group, IFC, World Bank Group, Washington DC, in her presentation highlighted opportunities and

limitations of ADR in financial dispute resolution. She stressed the need of building sufficient awareness about ADR norms and practices.

Mr. Ho Meng Hee, Director, ADR, Financial Industry Disputes Resolution Centre Ltd., Singapore made a presentation on resolving financial consumer disputes through Mediation and Arbitration and the

Asian experience. He said that in ADR parties have more control over the outcome than in litigation and access to justice through ADR can take place outside the courts.

Mr. Sumant Batra, Managing Partner & Head, Insolvency Practice, Kesar Dass B & Associates, Corporate & Commercial Lawyers, India, made two presentations, one on out-of-court restructuring in Asia through ADR mechanism, latest

developments from India and the Asia region and the other on infrastructure to enable effective financial disputes resolution framework.

Mr. Enamul Huque, Managing Director & Country Head of Global Banking, Standard Chartered Bank Bangladesh in his presentation highlighted the case of Bangladesh as regards BIAC-Bangladesh Bank-Association of

Bankers Bangladesh proposed ADR Guidelines for Banks. He said that the tripartite committee on this is going to submit its recommendations to Bangladesh Bank soon and hoped that the central bank will issue appropriate guidelines to all banks for resorting to institutional ADR for resolution of Non Performing Loans in Banks.

A vote of thanks was given by Mr. M A Akmall Hossain Azad, Director, BIAC. The event was attended by several dignitaries including judges, Government officials, representatives from banks, the legal fraternity, corporate leaders, academicians and ADR experts from home and the Asian region.

Bangladesh International Arbitration Centre (BIAC), IFC/World Bank Group and Association of Bankers Bangladesh (ABB) jointly organised an international workshop on Resolving Financial Disputes through ADR which was held in Pan Pacific Sonargaon Hotel in Dhaka on 17 June 2019.

Mr. Fazle Kabir, Governor, Bangladesh Bank graced the event as the Chief Guest. Mr. Mahbubur Rahman, Chairman of BIAC, chaired the inaugural session of the workshop. Ms. Nina Mocheva, Senior Financial Sector Specialist, Debt Resolution & Insolvency, Credit Infrastructure Group, IFC/World Bank Group, Mr. Sumant Batra, Managing Partner & Head, Insolvency Practice, Kesar Dass B & Associates, Corporate & Commercial Lawyers, former INSOL President, New Delhi, India, Mr. Ho Meng Hee, Director, ADR, Financial Industry Disputes Resolution Centre Ltd., Singapore, Sheikh Mohammad Maroof, Acting CEO & Additional Managing Director, City Bank Limited and Mr. Enamul Huque, Managing Director & Country Head of Global Banking, Standard Chartered Bank Bangladesh presented papers on ADR issues in Bangladesh and the Asian region.

Speaking on the occasion as the Chief Guest, Mr. Fazle Kabir, Governor, Bangladesh Bank echoed the

vision of Bangladesh aiming at becoming one of the regional ADR friendly jurisdictions. He highlighted Bangladesh’s position in various indicators such as Resolving Insolvency done by World Bank Doing Business Index, the average Non Performing Loans (NPLs) recovery rate, pointing out the status quo and how alarming the scenario is in relation with the

case of resolving insolvency. He appreciated BIAC’s endeavour to help banks and financial institutions and mentioned that Bangladesh Bank has convened a committee along with Association of Bankers Bangladesh-ABB and BIAC to frame draft guideline on ‘Resolving Commercial and Financial Disputes Effectively Using ADR’ for the banks.

Mr. Mahbubur Rahman, Chairman of BIAC mentioned that BIAC has come a long way in the last 8 years since inception and continues to reach new milestones. The year 2018 in particular has been quite eventful. He

expressed his confidence that the Governor, as head of the central bank, will continue to provide leadership in introducing ADR mechanism following the submission of this draft guideline by the Committee.

Mr. Muhammad A. (Rumee) Ali, CEO of BIAC in his address of welcome highlighted how important it is to have ADR as part of an ecosystem that is to be exercised before resorting to litigation and that Bangladesh Bank

has stepped in for this role. He pointed out that currently only Artha Rin Adalat Ain 2003 is the only medium to resolve financial disputes through ADR.



















3. Conclusion




-------------------------------------------------------------------------


11


Ms. Nuzhat Anwar, Acting Country Manager & Senior County Officer, IFC/World Bank Group, Dhaka, stressed that we need a reliable credit infrastructure with efficient procedures so we can continue to

work towards improving the country’s business environment. She also highlighted IFC’s work with the Government of Bangladesh to develop the concept of ADR and expedite the settlement process.

Syed Mahbubur Rahman, Chairman, Association of Bankers Bangladesh (ABB) and Managing Director & CEO of Dhaka Bank Ltd stated that BIAC is the first international arbitration institution in the Country

which is providing state-of-the-art arbitration facilities and is working independently to resolve financial disputes through ADR.

In his presentation Sheikh Mohammad Maroof, Acting CEO of the City Bank Limited narrated the case of Bangladesh as regards the current debt resolution mechanism and practices and emphasized the

need of ADR for such resolution.

Ms. Nina Mocheva, Senior Financial Sector Specialist, Debt Resolution & Insolvency, Credit Infrastructure Group, IFC, World Bank Group, Washington DC, in her presentation highlighted opportunities and

limitations of ADR in financial dispute resolution. She stressed the need of building sufficient awareness about ADR norms and practices.

Mr. Ho Meng Hee, Director, ADR, Financial Industry Disputes Resolution Centre Ltd., Singapore made a presentation on resolving financial consumer disputes through Mediation and Arbitration and the

Asian experience. He said that in ADR parties have more control over the outcome than in litigation and access to justice through ADR can take place outside the courts.

Mr. Sumant Batra, Managing Partner & Head, Insolvency Practice, Kesar Dass B & Associates, Corporate & Commercial Lawyers, India, made two presentations, one on out-of-court restructuring in Asia through ADR mechanism, latest

developments from India and the Asia region and the other on infrastructure to enable effective financial disputes resolution framework.

Mr. Enamul Huque, Managing Director & Country Head of Global Banking, Standard Chartered Bank Bangladesh in his presentation highlighted the case of Bangladesh as regards BIAC-Bangladesh Bank-Association of

Bankers Bangladesh proposed ADR Guidelines for Banks. He said that the tripartite committee on this is going to submit its recommendations to Bangladesh Bank soon and hoped that the central bank will issue appropriate guidelines to all banks for resorting to institutional ADR for resolution of Non Performing Loans in Banks.

A vote of thanks was given by Mr. M A Akmall Hossain Azad, Director, BIAC. The event was attended by several dignitaries including judges, Government officials, representatives from banks, the legal fraternity, corporate leaders, academicians and ADR experts from home and the Asian region.

Bangladesh International Arbitration Centre (BIAC), IFC/World Bank Group and Association of Bankers Bangladesh (ABB) jointly organised an international workshop on Resolving Financial Disputes through ADR which was held in Pan Pacific Sonargaon Hotel in Dhaka on 17 June 2019.

Mr. Fazle Kabir, Governor, Bangladesh Bank graced the event as the Chief Guest. Mr. Mahbubur Rahman, Chairman of BIAC, chaired the inaugural session of the workshop. Ms. Nina Mocheva, Senior Financial Sector Specialist, Debt Resolution & Insolvency, Credit Infrastructure Group, IFC/World Bank Group, Mr. Sumant Batra, Managing Partner & Head, Insolvency Practice, Kesar Dass B & Associates, Corporate & Commercial Lawyers, former INSOL President, New Delhi, India, Mr. Ho Meng Hee, Director, ADR, Financial Industry Disputes Resolution Centre Ltd., Singapore, Sheikh Mohammad Maroof, Acting CEO & Additional Managing Director, City Bank Limited and Mr. Enamul Huque, Managing Director & Country Head of Global Banking, Standard Chartered Bank Bangladesh presented papers on ADR issues in Bangladesh and the Asian region.

Speaking on the occasion as the Chief Guest, Mr. Fazle Kabir, Governor, Bangladesh Bank echoed the

vision of Bangladesh aiming at becoming one of the regional ADR friendly jurisdictions. He highlighted Bangladesh’s position in various indicators such as Resolving Insolvency done by World Bank Doing Business Index, the average Non Performing Loans (NPLs) recovery rate, pointing out the status quo and how alarming the scenario is in relation with the

case of resolving insolvency. He appreciated BIAC’s endeavour to help banks and financial institutions and mentioned that Bangladesh Bank has convened a committee along with Association of Bankers Bangladesh-ABB and BIAC to frame draft guideline on ‘Resolving Commercial and Financial Disputes Effectively Using ADR’ for the banks.

Mr. Mahbubur Rahman, Chairman of BIAC mentioned that BIAC has come a long way in the last 8 years since inception and continues to reach new milestones. The year 2018 in particular has been quite eventful. He

expressed his confidence that the Governor, as head of the central bank, will continue to provide leadership in introducing ADR mechanism following the submission of this draft guideline by the Committee.

Mr. Muhammad A. (Rumee) Ali, CEO of BIAC in his address of welcome highlighted how important it is to have ADR as part of an ecosystem that is to be exercised before resorting to litigation and that Bangladesh Bank

has stepped in for this role. He pointed out that currently only Artha Rin Adalat Ain 2003 is the only medium to resolve financial disputes through ADR.

spacious new accommodation of BIAC

compared to its current one, located at the

heart of the city which is close by the Supreme

Court premises.

The team later visited the BIAC Secretariat at

Pantha Path and was greeted by Director,

BIAC Mr. M A Akmall Hossain Azad. While

Ms. Nina Mocheva is familiar with BIAC since

its inception, the two new guests, Mr. Sumant

Batra and Mr. Ho Meng Hee came to BIAC for

the first time. A brief presentation on BIAC’s activities

and recent achievements was delivered to the guests by

Ms. Rubaiya Ehsan Karishma, Counsel, BIAC. The

presentation was followed by a fruitful discussion on

further collaboration activities between BIAC and the

IFC World Bank Group. Mr. Sumant Batra and Mr.

Ho Meng Hee also showed keen interest on behalf of

their respective organisations to work in close cohesion

with BIAC in the days to come. Small tokens of

appreciation were presented to the guests by Ms.

Mahbuba Rahman Runa, Senior Counsel, BIAC.

IFC representative visits BIAC’s new premises and the BIAC Secretariat18 June 2019



















3. Conclusion




-------------------------------------------------------------------------


Ms. Nina Pavlova Mocheva, Senior Financial Sector

Specialist, Debt Resolution & Insolvency, Credit

Infrastructure Group, IFC/ World Bank Group,

Washington DC along with Mr. Sumant Batra,

Managing Partner & Head, Insolvency Practice,

Kesar Dass B & Associates, Corporate & Commercial

Lawyers and former INSOL President, New Delhi,

India and Mr. Ho Meng Hee, Director, ADR,

Financial Industry Disputes Resolution Centre Ltd.,

Singapore visited BIAC’s new office premises at the

Unique Heights on Level 14, at 117 Kazi Nazrul

Islam Avenue in the city on 18 June 2019. They were

accompanied by Director, BIAC Mr. M A Akmall

Hossain Azad and Senior Counsel, BIAC Ms.

Mahbuba Rahman Runa. The new office is currently

under construction, however, BIAC targets to move

into the new office by August this year. The IFC

representative expressed satisfaction over the more

12


spacious new accommodation of BIAC

compared to its current one, located at the

heart of the city which is close by the Supreme

Court premises.

The team later visited the BIAC Secretariat at

Pantha Path and was greeted by Director,

BIAC Mr. M A Akmall Hossain Azad. While

Ms. Nina Mocheva is familiar with BIAC since

its inception, the two new guests, Mr. Sumant

Batra and Mr. Ho Meng Hee came to BIAC for

the first time. A brief presentation on BIAC’s activities

and recent achievements was delivered to the guests by

Ms. Rubaiya Ehsan Karishma, Counsel, BIAC. The

presentation was followed by a fruitful discussion on

further collaboration activities between BIAC and the

IFC World Bank Group. Mr. Sumant Batra and Mr.

Ho Meng Hee also showed keen interest on behalf of

their respective organisations to work in close cohesion

with BIAC in the days to come. Small tokens of

appreciation were presented to the guests by Ms.

Mahbuba Rahman Runa, Senior Counsel, BIAC.

Director, BIAC Mr. M A Akmall Hossain Azad, by invitation from the Royal Danish Embassy in Bangladesh participated at the quarterly Danish Business Get Together held on 25 June 2019 at the Danish Ambassador’s

residence at Baridhara, Dhaka. The event was attended by eminent Danish and Bangladeshi business people. Ambassador of Denmark HE Winnie Estrup Petersen introduced Director, BIAC as a guest speaker at the Get together and invited him to talk about BIAC as an institution and the work it has been undertaking. In his presentation Director BIAC briefed the audience how enforcement of commercial contracts has become difficult in Bangladesh which led to its global ranking almost at the bottom among 190 economies according to the latest World Bank Global Doing Business Index. He said that the time, cost and quality of judicial process in resolving disputes caused such low performance and Alternative Dispute Resolution (ADR) is the only way forward for doing better business in Bangladesh which

in turn can help boost her economy. Director, BIAC gave a background of the emergence of BIAC which is the country’s first and only ADR institution. He highlighted the activities and recent achievements of BIAC. The gathering was attended by around 50 representatives from the local and Danish business community, research organizations and corporate houses. The participants took keen interest about the activities of BIAC and vowed to take BIAC’s assistance in mitigating their business disputes by adhering to ADR norms and practices using BIAC as a platform. The Question Answer Session was also very interactive and participated by a number of enthusiastic businessmen and entrepreneurs who welcomed BIAC’s commitment towards developing a more business friendly economy and were eager to work together with BIAC in resolving commercial disputes. Director, BIAC requested the Danish Ambassador to recognise BIAC on the Embassy’s official homepage by hosting BIAC’s link to its website. He also proposed to host one of such future events by the Danish Embassy at BIAC’s new premises at Paribagh in the city.

BIAC participated at Danish Business Get Together26 June 2019






There are a number of factors to be considered here, some of which are esoteric e.g. benefits between different arbitration institutional rules. Nevertheless, the goal must be to enumerate without contradictory language the methodology for resolving the dispute via any defined intermediary steps up to a final dispute resolution process. This choice is sometimes defined by the applicable law in the context of the transaction. For example, United States recent Court dec

Documents

BIAC Bulletin April-June 2019 · BIAC formally started its operation on 9th April 2011. It is an ADR service-provider organization, facilitating resolution of domestic and international