International Finance Corporation (IFC)'s business climate team has offered to hold a special training for the Lahore Stock Exchange (LSE) stakeholders on the Alternate Dispute Resolution (ADR) process. This was stated by the business climate improvement team of the IFC during their visit to the LSE.
The IFC visiting team comprising Amjad Bashir and Saima Zuberi from the Operations department highlighted the areas of focus of IFC for improving the business environment in Pakistan. The team apprised the LSE management that being the investment arm of the World Bank, the objective of IFC in Pakistan was to help improve the investment climate in Pakistan so that the confidence of the global investors in the country's investment regime could be enhanced.
The visiting delegation also apprised the LSE team about its focus on contract enforcements whereby IFC is working on promoting the Alternate Dispute Mechanism (ADM) methods in the country. The delegation apprised LSE about its ongoing work with the Lahore High Court and Lahore Chamber of Commerce. The visiting delegation was briefed about LSE's internal procedure of dealing with the investors' grievances and how the procedure of Arbitration is conducted to settle investors' claims.
The LSE team welcomed the suggestion of the IFC delegation to also consider the adoption of mediation as another framework for handling investors' claims. In this context, IFC delegation offered to organise a specific information and training session for the LSE stakeholders along with LCCI so that the participants could learn about the benefits of the mediation process.
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