53 companies get ICMAB Best Corporate Award

Staff Correspondent

26 February, 2021 12:00 AM printer

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) has awarded 53 companies including 46 listed firms for their outstanding performance in corporate governance in 2019.

Commerce Minister Tipu Munshi handed over the ‘ICMAB Best Corporate Award’ as the chief guest at a function organized by ICMAB at a city hotel in the city on Thursday. 

The ICMAB awarded the organizations in 6 categories after reviewing their performances based on their annual reports.

Bangladesh Securities and Exchange Commission (BSEC) Chairman Prof Shibli Rubayat Ul Islam, Commerce Secretary Dr Md Jafar Uddin, FBCCI President Sheikh Fazle Fahim and South Asian Federation of Accountants (SAFA) President Delwer Hussain were guests of honour on the occasion.

The six award categories were Nationalized Commercial Bank, Private Commercial Bank, Private Commercial Bank (Islamic Operation), non-bank financial institution, general insurance, Life Insurance, Pharmaceuticals, Cement, Textile, multinational company, Others Manufacturing, Power Generation, NGO, Agro and Food Processing, MW Trading & Assembly.

Three state-run banks – Rupali, Sonali and Agrani banks secured the awards in nationalized commercial bank category. Brac Bank, Eastern Bank and Dutch-Bangla Bank are the best among private commercial banks, according to ICMAB.

In Shariah-based banking, Islami Bank, Shahjalal Islami Bank, Social Islami Bank Limited and First Security Islami Bank won the awards.

IDLC Finance, IPDC Finance and Infrastructure Development Company secured the awards in non-bank financial institution category.

Green Delta Insurance Company, Nitol Insurance, Reliance Insurance and Provati Insurance showed the best performance in their annual reports of 2019, according to the organizers.

In the life insurance category, Pragati Life Insurance, Popular Life Insurance, Meghna Life Insurance and Sandhani Life Insurance won the awards.        

In Pharmaceuticals, Square Pharmaceuticals, Renata Limited, Beximco Pharmaceuticals and Orion Pharma showed the best performance in 2019, according to ICMAB assessment.

In the Cement category, Premier Cement, MI Cement Factory and Lafarge Holcim won the awards. Paramount Textile, Square Textile and Envoy Textiles are best in their respective categories.

Among multinational companies, ICMAB has picked BAT Bangladesh, Linde Bangladesh, Marico Bangladesh and Berger Paints Bangladesh.

Bangladesh Steel Re-Rolling Mills, RAK Ceramics and BBS Cables won the award in ‘other manufacturing’ categories.

In power generation, Summit Power, Dhaka Electric Supply Company, Doreen Power Generations and Systems and Baraka Power won the awards.

In the development sector, Brac, Social Development Foundation (SDF), Ghashful and Dhaka Ahsania Mission secured the awards.

Golden Harvest Agro Industries, Olympic Industries and National Tea Company are best in annual reports, according to ICMAB.

State-run Padma Oil, Meghna Petroleum, Information Technology Consultants and Navana CNG also won the ICMAB Awards for 2019 annual report.