The Evolution of Business Law in Bangladesh: Towards Harmonization of Domestic Legislation with International Legal Standards''

Abstract

The rapid globalization of trade and investment has necessitated the alignment of domestic legal frameworks with international legal standards. In Bangladesh, the evolution of business law has been marked by significant reforms aimed at facilitating economic growth, protecting investors, and ensuring regulatory compliance. This research examines the historical development of business law in Bangladesh, identifies the gaps and inconsistencies in the domestic legislative framework, and analyzes the mechanisms employed to harmonize national laws with international legal norms. The study employs a qualitative methodology, combining doctrinal legal analysis with a review of statutes, case law, and international treaties relevant to commercial and corporate regulation. Key areas of focus include contract law, corporate governance, banking and financial regulations, intellectual property rights, and dispute resolution mechanisms. The research also explores the challenges faced in implementing international standards, such as institutional limitations, socio-economic constraints, and legislative inconsistencies. The findings indicate that while Bangladesh has made substantial progress in updating its legal framework, significant gaps remain in achieving full harmonization with international standards. Recommendations include targeted legislative reforms, capacity-building for regulatory institutions, and the adoption of international best practices to enhance legal certainty and promote investor confidence. This study contributes to a deeper understanding of the trajectory of business law in Bangladesh and provides practical insights for policymakers, legal practitioners, and scholars aiming to strengthen the country’s legal infrastructure in line with global standards.