Institutionalisation of ADR will raise confidence of investors: minister

May 31, 2013

Commerce minister Ghulam Quader on Thursday said that institutionalisation of ADR in the country will raise confidence of the investors.
He was speaking at the concluding session of the foundation course in mediation organised by the Bangladesh International Arbitration Centre and Centre for Effective Dispute Resolution, UK at Ruposhi Bangla Hotel in the city, said a press release.
He acknowledged that businesses require fast and effective tools for resolving disputes that may arise. ‘In keeping with the established practice in the developed and major developing countries, we need to adapt our institutions and procedures to making our economy and court systems business-friendly,’ he added.
The three business chambers — International Chamber of Commerce Bangladesh, Dhaka Chamber of Commerce and Industry and — Metropolitan Chamber of Commerce and Industry have established BIAC with a view to facilitating the resolution of commercial disputes through ADR.
Lawyer Rafique-ul Huq, Transcom Group chairman Latifur Rahman, MCCI president Rokia A Rahman, DCCI president Md Sabur Khan, CEDR director Andy Grossman, BIAC chairman Mahbubur Rahman, chief executive Toufiq Ali and International Finance Corporation programme manager Masrur Reaz were also present on the occasion.

-With New Age input

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