North South University’s Department of Law organised a talk on ‘Lawyers in the Banking Sector’ at the Moot Court Room of the NSU, on Wednesday 18 October.
The chief guest and keynote speaker of the event was Barrister Shafayat Ullah, senior executive vice president and divisional head of the Group Legal Affairs Division, Mutual Trust Bank Ltd, reads a press release.
Arafat Hosen Khan, chairman, of the Department of Law started the session with an opening remark. He emphasised the diverse nature of law, highlighting its connections to various sectors. He encouraged students to glean insights from the distinguished speaker’s banking sector experience.
Barrister Shafayat Ullah shared his career transition from practice to corporate banking, noting the traditional reliance on external lawyers. He emphasized the industry’s shift towards robust in-house legal departments for cost efficiency and confidentiality. Mr. Ullah pointed out common legal pitfalls, attributing them to inconsistent procedures and inadequate documentation. He encouraged students to sharpen their observational skills, highlighting the burgeoning opportunities for lawyers in this evolving landscape.
The speech was followed up by a question-answering session.
Professor Md Rizwanul Islam, the discussant, likened bank lawyers to company secretaries, overseeing operations and liaising with departments, alongside legal representation. He emphasized the complexity, akin to courtroom lawyering. The discussant concurred, highlighting securitization’s pivotal role in nonperforming loans, dispelling the notion of addressing them only after they turn non-performing, and underscoring the importance of correct initial securitization.
Nafiz Ahmed, lecturer of the department concluded the event with a vote of thanks. He commented how the lawyers working at a bank have a unique legal status as the Supreme Court views lawyers employed in a bank as ‘a partner of the court’.
The Master of Ceremonies for the event was Tasnim Hasan Saara, Llecturer, Department of Law, North South University. The event was part of the NSU Law Talk series where experts from the field of law share their knowledge and experience. Saika Islam and Shamsur Rahman anchored the event.
