Photo: BSS

DHAKA, Aug 1, 2026 (BSS) - Emphasising the need for speedy, efficient and transparent adjudication, former Chief Justice Dr Syed Refaat Ahmed today said the quality of a nation's judiciary is its primary economic indicator.
 
"By prioritising speedy, efficient and transparent adjudication, we are constructing a robust architecture for commercial justice. In the globalised economy of the 21st century, investors-both foreign and domestic-do not judge a country solely by tax incentives or infrastructure. They seek certainty. 

They seek assurance that contracts will be honoured, rights will be protected, and disputes will be resolved not over decades but within months," he said.
 
Dr Syed Refaat Ahmed made the remarks as the chief guest at the maiden Bangladesh ADR Summit hosted by the Bangladesh International Arbitration Centre (BIAC) at Hotel InterContinental here.

 BIAC Board Chairman Mahbubur Rahman delivered the welcome address, while High Court Division Justice Fatema Anwar presented the keynote address titled "Advancing Justice and Business Confidence through ADR".
 
"We must confront the reality that, for too long, enforcing a commercial contract in Bangladesh has been a deterrent to foreign investment and a brake on domestic entrepreneurship. We must recognise that the adjudicatory framework we are building serves as a genuine lifeline for our national economy," the former chief justice said.
 
Dr Refaat also stressed the need to move towards a new judicial philosophy for commercial disputes-one that recognises time as a critical element of justice and treats procedural discipline as a constitutional duty.
 
BIAC organised the summit to mark its 15th anniversary.
 
A session highlighting BIAC's journey from 2011 to 2026 was held at the outset of the programme. Chaired by BIAC Vice Chairman Muhammad A. (Rumee) Ali, the session featured speeches by former Justice Md Awlad Ali, Aftab Ul Islam, Dr Khaled Hamid Chowdhury and Rizwan-ur-Rahman.
 
A panel discussion titled "Advancing Justice and Business Confidence through ADR" was also held. Moderated by Barrister Sameer Sattar, the discussion featured Barrister Tanim Hussain Shawon, Dr Melita Mehjabeen, Mohammad Forrukh Rahman, Mohammad Mahmudur Rashid and Barrister Magrub Kabir.
 
BIAC Chief Executive Officer KAM Majedur Rahman presented a vote of thanks at the very end of the function.