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BIAC launches mediation rules to settle commercial disputes

Star Business Report
Bangladesh International Arbitration Centre (BIAC) has launched its maiden mediation rules to settle disputes in commercial deals.
The rules launched at a programme to mark the centre's third anniversary contain 23 clauses, with one on fees and charges, BIAC said in a statement.
With the growth of businesses, mediation will continue to evolve in Bangladesh due to cost effectiveness, said Washington-based Attorney Joseph R Profaizer at the launch at Ruposhi Bangla Hotel in Dhaka on Thursday.
The courts in Bangladesh, like in many other countries, are overburdened. There are as many as 2.4 million cases pending, of which roughly 1 million are civil cases, according to BIAC.
Despite best efforts the litigation backlog is increasing by the year. Many of these civil cases are amenable to resolution by alternate dispute resolution methods.
Alternative dispute resolutions are widely practised around the globe to settle disputes as these are less expensive, expeditious and confidential, Profaizer said.
The utility of the tools depends largely on their users and in a modern functional society, the dispute resolution ecosystem should have methods in place that change with the changing needs of society, he said.
BIAC has shaped itself as the country's first alternate dispute resolution service provider, Toufiq Ali, chief executive of the centre.
A fundamental requirement for trade and investment to flourish is quick and cost-effective methods and institutions for resolution of cornmer-
cial and investment disputes, said Abul Hasan Mahmood Ali, foreign minister, while applauding BIAC.
BIAC is one of the significant outcomes of the business community's endeavour to create a commerce friendly enabling environment in the country, said Mahbubur Rahman, chairman of BIAC Council.
Successful trainees of BIAC's advanced arbitration course received certificates at the programme.
Former Chief Justices Latifur Rahman, Mahmudul Amin Choudhury, and KM Hasan; Justice Awlad Ali, Barrister Rafique-Ul Huq, Vice President ICCB Latifur Rahman, President of DCCI M Shahjahan Khan and Executive Director of International Law Institute Kim Phan were present.
BIAC, established by three business chambers — ICCB, DCCI and MCCI—and supported by IFC, started