Thirty five companies get ICSB award for corporate governance excellence

Sun Online Desk

24th January, 2021 06:01:29 printer

Thirty five companies get ICSB award for corporate governance excellence

The Institute of Chartered Secretaries of Bangladesh (ICSB) yesterday (Saturday) recognized 35 companies for good corporate governance based on the evaluation criteria set by the Institute.

The companies were given the award for promoting corporate fairness, transparency and accountability in the overall management of the company during the year of 2019.

The awards were provided at the 7th ICSB National Award for Corporate Governance Excellence, 2019 held on Saturday at a city hotel.

Commerce Minister Tipu Munshi graced the occasion as the chief guest and presented crests and certificates to the winning companies in 13 categories covering all listed companies under DSE and CSE, said a press release.

Tipu appreciated the initiative of ICSB to award the listed companies for practicing good governance adding that efficient corporate governance is increasingly becoming important in today’s business world.

“It’s the commitment of the present government to ensuring a culture of good corporate governance among all the listed companies in Bangladesh,” he said appreciating the role of ICSB in developing professional skills in the corporate sector.

Speaking as special guest at the event, Chairman of Bangladesh Securities and Exchange Commission (BSEC) Professor Shibli Rubayat-Ul-Islam said, “Corporate governance is a major determinant for stability and development of the capital market.”

He said the BSEC is constantly reviewing the Corporate Governance activities of the country. “Chartered secretaries will play a much bigger role in ensuring excellence in corporate governance,” he continued.

Commerce Secretary Dr. Md. Jafar Uddin congratulated the award winners and appreciated ICSB for such arrangement, adding that good governance is the key to the country’s sustainable economic development.

“To ensure governance, we’ve to work together like a team,” he added.

The program was also streamed live in various virtual platforms. A large number of dignitaries, professionals, corporate executives from leading corporate houses of Bangladesh, members of the Institute attended it.

Muzaffar Ahmed, President of ICSB chaired the award giving program. Mohammad Sanaullah, former president and chairman CGA organizing committee also spoke on this occasion.

Among the awardees in the general banking sector, BRAC Bank Limited achieved the gold while Eastern Bank Limited and Bank Asia Limited obtained silver and bronze respectively.

In the Islami Banking sector, Islami Bank Bangladesh Limited gained the gold while Shahjalal Islami Bank Limited and Al-Arafah Islami Bank Limited obtained silver and bronze respectively.