Speakers at a seminar on Saturday stressed the need for modernisation of companies act for ensuring a business-friendly atmosphere in the country.
They said that the government should amend the Act by giving emphasis on a multi-jurisdictional, comprehensive and updated Companies Act that will ease new entry and reduce cost of doing business.Speakers came up with the remarks at a seminar on ‘Modernisation of Companies Act for Ease of doing Business’ organised by the Institute of Chartered Accountants of Bangladesh (ICAB) at ICAB Auditorium in the city.
Commerce Secretary Shubhashish Bose was present at the programme as the chief guest while office of Joint Stock Companies and Firms Additional Registrar Shontosh Kumar Pandit, former ICAB President Md Humayun Kabir FCA and ICAB President Dewan Nurul Islam FCA also spoke on the occasion.
Emphasising on a modern companies act, speakers also said that the full automation of the Office of the Registrar of Joint Stock Companies (RJSC), easing share transferring process, taxation policy, better functioning and coordination among RJSC, Bangladesh Bank, SEC, NBR, BIDA, City Corporations and other concerned regulators are required for ensuring a business-friendly atmosphere in the country.
Shubhashish Bose said that after 1994 act, the government is going to amend the companies act considering the changes of global economic system and modernise the act to attract more foreign direct investment (FDI) in line with the demand of the day.