FBCCI launches center for dispute resolution

The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) has launched a centre to resolve business-related disputes out of court.

Former FBCCI President Shafiul Islam Mohiuddin on Wednesday virtually inaugurated the FBCCI Alternative Dispute Resolution Center and Institute, said a press release.

Sheikh Fazle Fahim, president of FBCCI, Mohammad Muntakim Ashraf, its senior vice-president, and Mohammad Mahfuzul Haque, chief executive officer, were present, among others, in the event.

Fahim said that the sole purpose of the ADR Center is to settle trade disputes in a short time at a low cost.

Former President Mohiuddin was behind the inception of the centre, he said, adding that the current FBCCI Board (2019-2021) further advanced the imitative.

The institution will play a pivotal and positive role in the industry-academy linkage, trade, and economy of Bangladesh, enhancing the ‘Ease of Doing’ business by resolving disputes with a short period which currently is eight years on average, the FBCCI hopes.
Mohiuddin said that the initiative of FBCCI Institute and FBCCI ADR Center is a commendable one. The next leader will take these significant initiatives further.

At the same time, the business community of Bangladesh will grow further internationally, he expressed hope.