Seminar Report: “Bridging Solutions: Negotiation, Mediation, and Reconciliation for a Stronger Banking Sector”

Overview
Held on November 09, 2024, this seminar, organized by M.I.A.-AMCC, focused on promoting Alternative Dispute Resolution (ADR) in Pakistan’s banking sector. Esteemed speakers, including legal experts, retired judges and Islamic scholars, discussed how negotiation, mediation, and reconciliation can improve conflict resolution in banking, reducing court dependency and promoting a pro-mediation culture.

Speakers and Topics

• Muhammad Ishaq Ali, Advocate, CEO, M.I.A.-AMCC: Spoke on banking disputes suitable for mediation, such as loan defaults, mortgages, and bank-business conflicts, advocating for greater mediation adoption to enhance sector resilience. Addressing issues arising between banks and their business clients, Mr. Ali emphasized that mediation can help in resolving conflicts swiftly, preserving long-term business relationships and trust.

https://www.youtube.com/watch?v=5v_1ZoHdtA4&list=PLmRZPFBSHnhdPlYxU58zXi-UurA8iDF7M&index=3

• Justice (R) Mr. Fahim Ahmed Siddiqui: Analyzed Pakistan’s legal framework supporting mediation and Relevant Laws and Regulations: He provided an overview of Pakistani laws that support ADR, including recent legislative reforms aimed at promoting mediation and the role of regulatory bodies.

https://www.youtube.com/watch?v=SU7WemxPXus&list=PLmRZPFBSHnhdPlYxU58zXi-UurA8iDF7M&index=4

• Judge (R) Mr. Shahid Shafiq: Addressed obstacles to Mediation in banking, including cultural resistance and complexities in multi-party disputes, urging efforts to overcome these barriers. Complexities in Multi-party Banking Disputes: Mr. Shafi elaborated on the added complexities when multiple parties are involved in banking disputes, which can make mediation more challenging.

https://www.youtube.com/watch?v=dOVez1dgh5g&list=PLmRZPFBSHnhdPlYxU58zXi-UurA8iDF7M&index=5

• Judge Javaid Ahmed Keerio (Banking Offences Court): Shared best practices in mediation, addressing advocates’ concerns and proposing strategies to foster a pro-mediation culture in banks. Judge Keerio advocated for developing a pro-mediation culture within banks and financial institutions to ease the transition from litigation to Mediation / ADR practices.

https://www.youtube.com/watch?v=Q29le-3Vryw&list=PLmRZPFBSHnhdPlYxU58zXi-UurA8iDF7M&index=6

• Mufti Muhammad Awais Naeem: Presented the Islamic perspective on mediation, emphasizing its alignment with Islamic finance principles and Shariah, especially for Islamic banking institutions. He emphasized that Islam encourages peaceful resolution of disputes and provides a moral framework for conducting fair negotiations.

https://www.youtube.com/watch?v=WfmOU5kb8mo&list=PLmRZPFBSHnhdPlYxU58zXi-UurA8iDF7M&index=8

• Conclusion
  The seminar successfully underscored the potential of negotiation, mediation, and reconciliation to create a stronger, more resilient banking sector. Speakers highlighted the adaptability of ADR methods to a variety of banking disputes, the supportive legal framework, the obstacles that still need addressing, and the benefits of integrating Islamic principles.

  Recommendations

  1. Training Programs: Implement mediation training for banking professionals and advocates.
  2. Regulatory Support: Strengthen frameworks to encourage mediation use.
  3. Public Awareness: Increase awareness of Mediation / ADR benefits for banking disputes.
  4. Promote Islamic Mediation / ADR Practices: Support Islamic financial institutions in adopting mediation aligned with Shariah principles.

  This seminar marked a significant step toward embedding ADR in Pakistan’s banking sector, aligning interests across banks, clients, and regulatory bodies for effective conflict resolution.

   ——— Thanks to all the Honorable Speakers and participants ———-

  November 09, 2024.

Seminar on Mediation organized by MIA-AMCC

Chief Justice of Sindh Aqeel Ahmad Abbasi was the chief guest of the seminar

https://www.youtube.com/watch?v=0_ZOHKLGZFE&pp=ygUVc2VtaW5hciBvbiBtZWRpYXRpb24g