Dialogue focuses on arbitration in economy
Alternative dispute resolution (ADR) should be effective and provide an alternative to the overburdened courts, said Law Minister Barrister Shafique Ahmed.
He spoke at a recent dialogue on “Court Interventions in Arbitration” organised by the Bangladesh International Arbitration Centre (BIAC) at Dhaka Chamber of Commerce and Industry (DCCI) in the capital.
The minister said the Arbitration Act of 2001 and amendment of the Civil Procedure Code were made to facilitate ADR, particularly arbitration.
However, he noted that the implementation left much to be desired. He is considering setting time limits for each stage of the proceedings, training in arbitration and mediation particularly in the Judicial Training Institute. Settlement of disputes must be on the basis of an understanding between the parties, and courts must not overturn such understandings.
Former chief Justices Latifur Rahman, Syed JR Mudassir Husain, Tafazzal Islam also participated and made observations on the ADR process and role of the courts. Among others Barrister Rafiqul Haque, Dr. Zahir, former attorney general Hasan Arif, former justices Rashid and Awlad Ali, DCCI President Asif Ibrahim, former DCCI president ASM Quasem, entrepreneur Rokia Rahman, MCCI Vice President Nihad Kabir, Managing Director of NCC Bank Nurul Amin, made significant contributions on how the ADR process can be strengthened and made effective.
The keynote presentation was made by Barrister Ajmalul Hossain who described the practice of courts, particularly in respect to international arbitration awards. He drew upon examples in Bangladesh, and abroad.
Chairman of the governing body of BIAC Mahbubur Rahman chaired the meeting and highlighted the role of the private sector in the development of the economy.
The private sector needs options for speedy and effective resolution of business disputes, and arbitration provides the channel.
He referred to the overburdened courts and stated even in New York State, there are more than two lakh house foreclosure cases pending, and at the current rate of disposal, it will take 62 years to settle those cases. Clearly options for out-of-courts settlement, through arbitration, are vital.
Chief Executive Toufiq Ali welcomed the participants and explained what BIAC does.
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