37 firms get ICSB Award for corporate governance

The Institute of Chartered Secretaries of Bangladesh (ICSB) has awarded 37 companies for their outstanding corporate governance practices as well as transparency and accountability in overall management.

The 9th ICSB National Award for Corporate Governance Excellence, 2021 was organised by the ICSB at the Pan Pacific Sonargaon, Dhaka, said a press release from the organisation yesterday.

The companies were mainly judged in terms of how perfectly they promoted corporate governance, transparency and accountability in overall management of their team during the year 2021 and the ensuring compliance of Corporate Governance Code of Bangladesh Securities and Exchange Commission (BSEC).

This year's theme of the award was "Promoting Governing Excellence".

Salman F Rahman, Private Industry and Investment adviser to the prime minister, attended the programme as the chief guest.

Planning Minister MA Mannan and Senior Commerce Secretary Tapan Kanti Ghosh were special guests at the programme presided over by ICSB President Mohammad Asad Ullah. M Nurul Alam, senior vice president of ICSB, and Mohammad Shafiqul Islam Bhuiyan, council member, among others, were also present at the programme.

The distinguished guests presented trophies and certificates to 37 winning companies, listed with the DSE and CSE, under 12 categories. They were recognised with gold, silver and bronze awards.

The Eastern Bank Limited won the gold trophy in the general banking sector while the Mercantile Bank Limited secured silver and the Brac Bank Limited bronze.

The Shahjalal Islami Bank Limited received the gold award in Islami Banking category.

DBH Finance PLC won the gold award in the non-banking financial institutions category, while IDLC Finance Limited bagged silver and Bangladesh Finance Limited received bronze award.

In the general insurance category, the gold trophy went to Green Delta Insurance Company Limited, the silver to Reliance Insurance Limited and Peoples Insurance Company Limited and the bronze to Sena Kallyan Insurance Company Limited and City General Insurance Company Limited.

In the life insurance category, Pragati Life Insurance Limited bagged the gold award, National Life Insurance Company Limited received silver and Sandhani Life Insurance Company Limited the bronze.

Beximco Pharmaceuticals Limited took home the top honour in the pharmaceuticals and chemical category Square Pharmaceuticals Limited won silver and Orion Pharma Limited bronze.

In the textile and RMG company category, Paramount Textile PLC bagged the gold, Matin Spinning Mills PLC got silver and Square Textiles Limited the bronze trophy.

Unilever Consumer Care Limited won gold, Golden Harvest Agro Industries Limited silver and Olympic Industries Limited bronze respectively in the food and allied company category.

Walton Hi-Tech Industries PLC got the gold trophy in the engineering category, Singer Bangladesh Limited silver and Runner Automobiles PLC bronze.

RAK Ceramics (Bangladesh) Limited and Marico Bangladesh Limited won the gold and LafargeHolcim Bangladesh Limited and Premier Cement Mills PLC bagged silver respectively in the manufacturing category.

In the fuel and power category, United Power Generation and Distribution Company Limited secured gold, Summit Power Limited silver and Doreen Power Generations and Systems Limited received the bronze award.

Eastern Housing Limited won the top honour in the service company category while Unique Hotel and Resorts PLC bagged silver and Index Agro Industries Limited bronze.

Speaking at the event as a chief guest, Salman F Rahman, said, "The art of business management is diversified in nature but the Bangladesh Securities and Exchange Commission has listed characteristics of such diversified fields into a common framework which are independently certified by professionals of the field in public practice.

"The ICSB platform is also an opportunity for all eligible listed companies in the country to see their corporate governance performance through an independent judgment. I assure full cooperation from the government for the overall development of the ICSB so that it can play a more significant role in the future development of the country."

Congratulating the winners, he said, "I express my heartfelt congratulations to the companies which won the Corporate Governance Award prizes today for the year 2021 and also congratulate those who have not won the prizes. I believe that the companies which have not won today will do better in the next year and be able to achieve the prizes in the coming years."

He also said, "I believe that the government will actively consider the proposals of the ICSB for its professional development and ensuring governance in the corporate arena.

Planning Minister MA Mannan said, "I am extremely glad to speak in the 9th ICSB National Award for Corporate Governance Excellence 2021. This event has already created a huge enthusiasm among the corporate Professionals of Bangladesh.

"The most important contribution of this event so far is creating awareness about good governance, transparency and accountability in corporate management. The public limited companies in Bangladesh have become more concerned about publishing their annual reports, maintaining compliance and following corporate guidelines, so that they may come out as award winners in this gala event."

Senior Commerce Secretary Tapan Kanti Ghosh said, "I appreciate the effort being made by the ICSB for identifying and recognising the best corporate houses. I believe that this award will encourage other corporate houses in Bangladesh to improve their governance and compliance issues which will contribute to corporate sustainability and ultimately contribute to the country's socio-economic development and enhance our country's global competitiveness."

ICSB President Mohammad Asad Ullah said, "We urged upon our honourable chief guest and the special guests to take appropriate measures and initiatives to further develop the ICSB. As a result, the private sector of the country will be disciplined, enriched and developed by the professionals produced by the ICSB and they will contribute for achieving the SDGs in 2030 and realise Smart Bangladesh by 2041 as declared by Hon'ble Prime Minister Sheikh Hasina."

M Nurul Alam, chairman of Corporate Governance Excellence Award Committee, said, "In order to encourage corporate houses for practicing good governance as well as recognising their contribution to the good governance practice at organisation level, the ICSB introduced the National Award for Corporate Governance Excellence in 2013. Since then, this award has become a much-awaited ceremony in the corporate sector of Bangladesh."

The guests at the programme praised the ICSB's contribution in building governance and ensuring sustainable development in the business community of Bangladesh.