ICSB contributes greatly in country’s economic growth

Says BSEC Commissioner

Staff Correspondent

5 April, 2021 12:00 AM printer

Institute of Chartered Secretaries of Bangladesh (ICSB) is contributing greatly in the corporate governance and economic growth of the country, Bangladesh Securities and Exchange Commission (BSEC) Commissioner Dr. Shaikh Shamsuddin Ahmed said.

He came up with this remark at a continuing professional development (CPD) programme on “The Role of Independent Scrutiniser to authenticate the e-voting report of AGM and EGM” at virtual platform on Saturday, said a press release.

Company Secretaries need to be further trained by the CPDs and Independent Scrutiniser is a new avenue. They can contribute independently in the e-voting process, he added.

He also said that voting power must be encouraged. Independence of Independent Scrutiniser is very much needed.

He also mentioned that practicing is very useful so we all need to think about that how we can ensure this dimension.

Immediate Past President and Chairman of Professional Development Committee of the Institute Mohammad Sanaullah chaired the session.

ICSB Vice President Md Selim Reza gave the welcome speech.

Past President of ICSB and CEO & Chief Consultant AKA Muqtadir, Chartered Secretaries & Consultants Al-Muqtadir presented the Keynote Paper on “The Role of Independent Scrutiniser for e-voting at AGM and EGM”.

SATCOM IT Limited Director Mohammad Farid Uddin Chowdhury presented another Keynote Paper on ‘Technical Issues relating to E-voting at the General Meeting ‘under digital platform.

 Md Selim Reza thanked BSEC for issuing Corporate Governance Code 2018 which fulfill the demand and expectation of the stakeholders of Bangladesh. BSEC issued many directives and notification and one of the directives regarding appointment of Independent Scrutiniser to authenticate the report of AGM and EGM.

Keynote paper presenter AKA Muqtadir in his presentation elaborated different factors of Independent Scrutiniser to authenticate the E-Voting report of AGM and EGM.

He also discussed the special features in the BSEC directive. It is stipulated categorically that, the due process of voting and detailed information of voting results shall be authenticated by- the concerned stock exchanges or by an Independent Scrutiniser.

Such Independent Scrutiniser might be a chartered secretary or a chartered accountant to be appointed by the issuer company, he added.

He also elaborated about the appointment of Independent Scrutiniser, e-voting and roles of Independent Scrutiniser.

Keynote paper presenter Mohammad Farid Uddin Chowdhury in his presentation discussed different technical issues relating to E-voting at the General Meeting under digital platform.

He discussed in details about the benefits, process, time period and results of e-voting.

He showed the six steps of hybrid AGM. He also discussed about that what shareholders can see and can do and elaborately mentioned about Observer’s activities.

He also demonstrated an example of an e-voting process of an AGM.

Mohammad Sanaullah said that main purpose of appointment of Independent Scrutiniser is to scrutinise the voting and e-voting in fair and transparent manner.