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Training on arbitration, mediation vital for banking

Middle, Anis A Khan, managing director of Mutual Trust Bank Ltd, attends a basic arbitration training programme organised by Bangladesh International Arbitration Centre and Washington-based International Law Institute, at Ruposhi Bangla Hotel in the capital yesterday. The five-day event started on October 20. Photo: MTB

Middle, Anis A Khan, managing director of Mutual Trust Bank Ltd, attends a basic arbitration training programme organised by Bangladesh International Arbitration Centre and Washington-based International Law Institute, at Ruposhi Bangla Hotel in the capital yesterday. The five-day event started on October 20. Photo: MTB

Top bankers and experts have asked professionals to acquire knowledge on arbitration and mediation techniques, which are attractive means of dispute resolution, and assist in out-of-court dispute settlements, saving time, money and energy.
They made the comments at a five-day training on basic arbitration organised by Bangladesh International Arbitration Centre in coordination with the International Law Institute, Washington DC, at a city hotel.
“Trained manpower in arbitration and mediation are vital for the banking sector,??? said Helal Ahmed Chowdhury, managing director of Pubali Bank and a guest speaker at the programme.
In the past, our banking sector was plagued by a culture of default; banks gave loans but many debtors did not feel it was important to repay within the stipulated time and became defaulters, he said.
This culture was crippling our banking sector and at one stage, banks had no option but to file court cases against the defaulters, he added. “It took years to get a verdict from our courts. But it was not the target of banks to create defaulters and file cases against them,??? said Chowdhury.
The Artha Rin Adalat Ain of 2003 created an opportunity to settle the loan disputes through mediation. At that time, it was optional for the parties to settle the disputes through mediation. However, in a 2010 amendment, mediation has been made mandatory, but due to a shortage of trained manpower in arbitration and mediation, banks and businesses are not being benefitted.
Speaking at the programme, Anis A Khan, managing director of Mutual Trust Bank, said economic indicators, such as GDP, reserve and inflation show a stable economic condition.
“At the same time, the banking industry is confronting unexpected challenges in many areas.???
He stressed the need for our professionals to acquire skills and knowledge on arbitration and mediation.
BIAC Chief Executive Toufiq Ali also spoke at the programme. A total of 41 trainees drawn from different private and nationalised banks, law chambers and corporate houses participated in the training that ended on 24 October 2013.

http://www.thedailystar.net/beta2/news/training-on-arbitration-mediation-vital-for-banking-analysts/

 

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