Bangladesh gets arbitration centre for commercial disputes
Sunday April 10, 2011 09:25:48 PM,
IANS
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Dhaka: Bangladesh
has set up its first ever arbitration centre to settle commercial
disputes.
The Bangladesh International Arbitration Centre (BIAC) was opened
here "with a promise to help settle commercial disputes in a
quick, transparent and cost-effective manner", The Daily Star said
Sunday.
BIAC is a registered, not-for-profit organisation to provide an
environment where clients can meet their arbitration needs
effectively and efficiently. Its work revolves around the best
ways to adapt arbitration to fundamental changes in the economy.
The International Chamber of Commerce-Bangladesh (ICC-B), Dhaka
Chamber of Commerce and Industry (DCCI) and Metropolitan Chamber
of Commerce and Industry (MCCI), Dhaka, have set up the centre for
alternative disputes resolution, with support from the Bangladesh
Investment Climate Fund that is managed by the International
Finance Corporation.
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