Dhaka: The government has approved the draft of the Commercial Court Ordinance 2025, a strategic move designed to boost investment and ensure Bangladesh's success in the global arena following its graduation from the Least Developed Country (LDC) status.
According to Bangladesh Sangbad Sangstha, the Council of Advisers granted approval during its weekly meeting, presided over by Chief Adviser Professor Muhammad Yunus. Chief Adviser's Press Secretary Shafiqul Alam briefed the media at the Foreign Service Academy, highlighting the ordinance's significance in resolving commercial disputes that both foreign and domestic investors frequently encounter. The establishment of commercial courts is expected to expedite case resolution and enhance business confidence.
Shafiqul Alam emphasized that establishing commercial courts aligns with Bangladesh's broader goals post-LDC graduation, which will require the country to rely on its capacity to resolve disputes effectively rather than on tariff benefits. He noted that the ordinance includes provisions for the establishment of additional commercial courts at the district level, if necessary.
The ordinance aims to bolster investor confidence, reduce business costs and time, and strengthen the rule-of-law perception, thereby attracting foreign direct investment and enabling Bangladesh to engage in global economic negotiations more effectively.
Key features of the ordinance include a comprehensive definition of commercial disputes and the establishment of courts with judges experienced in commercial law. The ordinance introduces special provisions for expedited hearings, including suit management hearings and the possibility of issuing judgments based on documentary evidence.
Additionally, the ordinance incorporates mechanisms for mediation and arbitration to facilitate faster case disposal and includes provisions for cost and interest calculation, along with consultations with the Supreme Court for drafting necessary rules.