Bangladesh International Arbitration Centre (BIAC) has signed a Memorandum of Understanding (MoU) with Eastern Bank Ltd (EBL) to assist resolution of commercial and money loan disputes through ADR at a signing Ceremony held on Tuesday 16 February, 2016 at the Corporate Office of Eastern Bank Ltd. in Dilkusha, Dhaka.
Muhammad A. (Rumee) Ali, Chief Executive Officer of BIAC and Ali Reza Iftekhar, Managing Director & CEO of Eastern Bank Ltd. signed the agreement on behalf of their respective institutions. Senior officials from both the institutions were present during the signing ceremony.
This agreement provides a framework to facilitate resolution of contractual and commercial disputes (if arises) of Eastern Bank Ltd. using ADR methods such as Arbitration and Mediation, through ADR expert services of BIAC.