The government is set to amend the Commercial Court Act, the Attorney General confirmed on Saturday (November 14). The initiative is aimed at improving the country's business environment and ensuring speedy resolution of commercial disputes.

Purpose of the Amendment

Citing the Attorney General, media reports indicate that the current Commercial Court Act contains certain complexities that cause delays in resolving business-related cases. The law will be amended to make it more contemporary and effective. The amended law is expected to include provisions for setting time limits for case disposal and making better use of Alternative Dispute Resolution (ADR) mechanisms.

Impact on Business Environment

Analysts believe that amending the Commercial Court Act will help attract more foreign investment to the country. A faster resolution of commercial disputes is likely to boost investor confidence and energize economic transactions. According to sources, a detailed proposal for the amendment may be prepared and presented to the cabinet.

Next Steps

Discussions have already begun with the Ministry of Law and relevant stakeholders to draft the amendment. Once the final draft is prepared, it will be tabled in parliament. If the amended law comes into effect, the pace of case resolution in Bangladesh's commercial courts is expected to increase significantly.