News Desk :
The Government of Bangladesh appointed three Bangladeshi individuals to the prestigious Panels for Arbitrators and Conciliators of the World Bank’s International Centre for Settlement of Investment Disputes.
Justice MD Tafazzul Islam, former Chief Justice, has been appointed in the Panel of Conciliators.
Dr Rumana Islam, Professor of International Law at Dhaka University and Barrister Moin Ghani, who has represented Bangladesh in a number of ICSID cases, have been appointed in the Panel of Arbitrators.
The designations are for a period of six years extending through 26 April 2027, according to a press release.
ICSID is an international arbitration institution for the resolution of disputes between foreign investors and States. It is part of the World Bank Group. The ICSID maintains Panels for Arbitrators and Conciliators that may be used by the parties to a dispute, or in cases where the opposing parties are unable to agree on a nominee. The Panel of Arbitrators may also be used for appointment to ad hoc committees.
The procedural framework for arbitration and conciliation is provided by the ICSID Convention and the ICSID Additional Facility, and is further supplemented by detailed Rules and Regulations. The ICSID Arbitrators and Conciliators exercise their duties in accordance with those rules, with administrative support from the ICSID Secretariat.
Members of the Panels serve for a term of 6 years, which can be renewed, as provided in Article 15(1) of the ICSID Convention.
Bangladesh has been a Member State to the ICSID Convention since 26 April 1980.
