43 listed firms get ICSB award for outstanding corporate governance

Institute of Chartered Secretaries of Bangladesh (ICSB), on Saturday, awarded 43 companies for their outstanding corporate governance practices as well as transparency and accountability in overall management. 

The 10th ICSB National Award for Corporate Governance Excellence, 2022 was organised by ICSB at a hotel in the capital, read a press release.  

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 2022, and ensuring compliance of Corporate Governance Code of Bangladesh Securities  and Exchange Commission (BSEC). Theme of the award ceremony was 'Promoting Governing Excellence'. 

Commerce Minister Tipu Munshi joined the occasion virtually as the chief guest. Md Nojibur Rahman, chairman, Capital Market Stabilization Fund (CMSF) & former principal secretary to the Prime Minister of Bangladesh and Tapan Kanti Ghosh, senior secretary, Ministry of Commerce were present as special guests. 

Md Nojibur Rahman said "The most important contribution of this event so far is creating awareness about good governance, transparency and accountability in corporate management."

Tapan Kanti Ghosh said "The role of Company Secretaries is very important to ensure governance in a company. ICSB is working to enhance the capability and creativity of the Chartered  Secretaries in the business sector."  

The guests presented trophies and certificates to 43 winning companies under 14 categories who are listed with the country's stock exchanges. Companies were recognised with awards in the Gold, Silver and Bronze categories. 

In the general banking category, Eastern Bank won the gold trophy while Dutch-Bangla Bank secured silver and Brac Bank won bronze. 

In the Islamic banking category, Shahjalal Islami Bank received the gold award while Standard Bank secured silver and Global Islami Bank bronze. 

IDLC Finance won the gold award in the non-bank financial institutions category while Bangladesh Finance bagged silver and both DBH Finance, and National Housing Finance and Investments received bronze award. 

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

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

Beximco Pharmaceuticals received the gold award in the pharmaceuticals and chemicals category while Square Pharmaceuticals won silver and both Renata Limited and Navana Pharmaceuticals won bronze. 

In the textile and RMG category, Matin Spinning Mills bagged the gold, Paramount Textile got silver, and Hwa Well Textiles (BD) got the bronze trophy. 

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

ADN Telecom got the gold trophy in the information and communication technology category, Aamra Technologies got silver, and IT Consultants got bronze. 

In the engineering category, Walton Hi-Tech Industries got gold, Runner Automobiles silver and Singer Bangladesh got bronze.

RAK Ceramics (Bangladesh) won gold, Marico Bangladesh silver, and LafargeHolcim Bangladesh got bronze in the manufacturing category. 

In the fuel and power category, United Power Generation & Distribution Company secured gold, Linde Bangladesh silver, and both Doreen Power Generations and Systems, and MJL Bangladesh received the bronze award. 

Eastern Housing won the gold award while Unique Hotel and Resorts bagged silver and Index Agro Industries got bronze in the services category. 

In the telecommunications category, Robi Axiata bagged gold, and Bangladesh Submarine Cable Company got silver. 

The ICSB's President Mohammad Asad Ullah presided over the program while Senior Vice President M Nurul Alam along with other senior officials was present. 

Speaking on the occasion, the ICSB president said "To promote ease of doing business, attract FDI, and to protect the interest of investors and stakeholders, we urgently need the new Companies Act instead of amendment of the same."

Besides, he mentioned that the Chartered/Company Secretaries are the operators of the Companies Act worldwide. Therefore, he requested the Commerce Minister and Commerce Secretary to include the ICSB profession in the Companies Amendment Bill 2023 in line with ICSB's proposal submitted before the Ministry of Commerce to develop  the profession in Bangladesh. 

Finally, he congratulated the award winners and hoped this will encourage them to strive for achieving excellence in all respects.