BIAC signs MoU with SIAC

Mr. Muhammad A. (Rumee) Ali, Chief Executive Officer of Bangladesh International Arbitration Centre (BIAC) and Ms. Lim Seok Hui, Chief Executive Officer of Singapore International Arbitration Centre (SIAC) signed a Memorandum of Understanding (MoU) on behalf of their respective organizations recently in Singapore. This MoU is intended to explore areas for co-operation in respect of jointly organizing training and seminar, knowledge sharing and other relative issues on ADR.

The signing ceremony was attended by Mr. Mohammad Shahidul Haque, Secretary, Legislative and Parliamentary Affairs Division, Ministry of Law, Justice and Parliamentary Affairs, SIAC_MoUBangladesh. Mr. Francis Xavier SC, Chairman, CIArb Singapore Branch, Mr. Chou Sean Yu, Vice-Chairman of CIArb Singapore Branch, Mr. Ataur Rahman, Secretary General, International Chamber of Commerce- Bangladesh (ICC-B), Mr. Kevin Nash, Deputy Registrar & Centre Director, Delphine Ho, Registrar, Singapore International Arbitration Centre along with senior officials of BIAC.

In his speech, Mr. Haque mentioned that the united efforts of the government and BIAC will create a congenial environment for prompt resolution of dispute. Eventually it will push business organisations as well as government offices to seek BIAC’s involvement in resolving their disputes. He hoped that both BIAC and SIAC will maintain the mutual liaison and progress the ADR scenario in their respective regions.

Ms. Lim Seok Hui expressed her gratitude for taking such initiative of signing this MoU and helping both countries to work together for resolving commercial disputes between the businesses of both the countries.

Mr. Francis Xavier SC, Chairman, CIArb Singapore Branch, thanked Mr. Muhammad A. (Rumee) Ali for taking the initiative of signing the MoU between the Arbitration Centre of Bangladesh and Singapore and hoped that this will help further to promote trade between the countries.

Mr. Muhammad Rumee Ali appreciated CIArb’s role in coordinating the event. In his speech, Mr. Ali mentioned that BIAC can play a critical role if the policy makers, judiciary and the commercial community get together to change the way we resolve disputes. BIAC can learn from SIAC’s long and successful experience in Arbitration and the MoU is the first step in this process.