Bangladesh has had a traditionally poor track record when it comes to human rights abuses and institutional corruption. Good governance at Union Parishad depends on rule of law, freedom and democracy, accountability, transparency, responsiveness, human rights, cultural diversity and social cohesion. Governance is the manner in which power is exercised (Uddin, 2010). Introduction Union Parishad (UP) is the lowest tier of Local Government of Bangladesh which is a major platform that plays a crucial role to strengthen the good governance at community level. Therefore, this research will critically analyze the existing laws relevant to the ADR and will suggest some guidelines to improve the existing process in Bangladesh by adopting qualitative research method. However, the laws relevant to the ADR processes are inadequate in various legal and litigative aspects and perspectives and there is no uniform law for the ADR in Bangladesh. An ADR process is very popular in Bangladesh as both the plaintiff and the defendant get their benefits from this process and as a matter of fact, the ADR reduces the work load of a formal judicial system in Bangladesh to a great extent. Traditionally, people in rural areas have preferred to settle their disputes by the ADR process particularly, negotiation, mediation, conciliation and arbitration because this process is less time consuming and cheaper as well. Source: Chowdhury, L.R., (2002), A Text Book on Banker’s Advances, 2 nd edition What is credit risk management? IdentNationalation A bank’s risks have to be identified before they can be measured and managed.Alternative Dispute Resolution (ADR) is an alternative to a full-scale court proceeding and is applied in different situations in different ways, both formally and informally, mostly in civil cases in Bangladesh. The constituent elements of credit risk can be viewed from the following flowchart. Credit risk is most simply defined as the potential that a bank borrower or counterparty will fail to meet its NBLigations in accordance with agreed terms (Basel Committee on Banking Supervision, 2000). (Guideline on credit risk management, Bank of Mauritius). (Wikipedia dictionary) Credit risk means the risk of credit loss those results from the failure of a borrower to honor the borrower’s credit NBLigation to the financial institution. Credit risk is the likelihood that a borrower or counter party will be unsuccessful to meet its NBLigation in accordance with agreed terms and conditions. Risk is the element of uncertainty or possibility of loss that exist in any business transaction. (Guideline on credit risk management, Bank of Mauritius) What is credit risk? Risk means the exposure to a chance of loss or damage. (Wikipedia dictionary) Credit means a provision of, or commitment to provide, funds or substitutes for funds, to a borrower, including off-balance sheet transactions, customers’ lines of credit, overdrafts, bills purchased and discounted, and finance leases. It is an arrangement for deferred payment of a loan or purchase. Bank credit is a credit by which a person who has given the required security to a bank has liberty to draw to a certain extent agreed upon. What is credit? In banking terminology, credit refers to the loans and advances made by the bank to its customers or borrowers. Indeed, identifying, assessing, and promoting sound risk management practices have become central elements of good supervisory practice. Artha Rin Adalat Ain, 2003_2004_fina-classic.doc Author: Administrator Created Date: 11:29:41 AM.īut bank supervisors, such as the Bangladesh Bank, also have an obvious interest in promoting strong risk management at banking organizations because a safe and sound banking system is critical to economic growth and to the stability of financial markets.
N EWS LE TTE R Banking, Finance, Corporate, Commercial, Property & Constitutional Legal Issues Year 2007 Volume 1 In This Issue Artha Rin Adalat Ain 2003. Banks have invested in risk management for the good economic reason that their shareholders and creditors demand it. Matters regarding recovery of loans by financial institutions are covered by this statute.Ĭredit Risk Management Contemporary banking organizations are exposed to a diverse set of market and non-market risks, and the management of risk has accordingly become a core function within banks.Artha Rin Adalat Ain (ARAA) 2003 Matters covered by this statute, its scope and jurisdiction of Artha Rin Adalat: 124 of 2010, should not be declared to have been passed without lawful authority and is of no legal effect. Exparte decree dated, passed by the Artha Rin Adalat, 4th Court, Dhaka in Artha Rin Suit no.
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