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Posted on Nov 24, 2018 |

5th ICSB National Award for Corporate Governance Excellence, 2017

5th ICSB National Award for Corporate Governance Excellence, 2017

Institute of Chartered Secretaries of Bangladesh (ICSB) organized its 5th ICSB National Award for Corporate Governance Excellence, 2017 on Saturday, November 10, 2018 at Grand Ball Room, Radisson Blu Dhaka Water Garden where 28 Companies were recognized for good Corporate Governance based on the evaluation criteria set by the Institute along with transparency and accountability in the overall management of the company during the year 2017.

Finance Minister Abul Maal A. Muhith graced the occasion as the Chief Guest and presented crests and certificates to winning companies in 11 categories covering all listed companies under DSE & CSE.

The award giving ceremony was also addressed by Prof. Dr. M. Khairul Hossain, Hon’ble Chairman, BSEC as the special guest and Dr. A.B. Mirza Md. Azizul Islam, Former Finance Advisor to the Caretaker Government of Bangladesh and Chairman of the Jury Board for the 5th ICSB National Award for Corporate Governance Excellence, 2017 while Mohammad Sanaullah FCS, President of ICSB chaired the Award giving Program.

Among the awardees in the Banking sector Eastern Bank Limited achieved the Gold while Southeast Bank Limited and Prime Bank Limited bagged Silver and Bronze respectively.

Similarly, in Non-Banking Financial Institutions category, IDLC Finance Limited achieved the gold while Delta BRAC Housing Finance Corporation Limited and Union Capital Limited achieved Silver and Bronze respectively.

Likewise, in Insurance Companies category, Green Delta Insurance Company limited received the gold while Prime Insurance Company Limited and Phoenix Insurance Company Limited ensured Silver and Bronze respectively.

In the Pharmaceutical and Chemical Companies category the ACME Laboratory Limited got the gold while The IBN SINA Pharmaceuticals Industry Limited took Silver.

In Textiles and RMG Companies category, Matin Spinning Mills Limited got the gold and Paramount Textile Limited and Regent Textile Mills Limited bagged Silver and Bronze respectively.

In Food and Allied Companies category, Golden Harvest Agro Industries Limited got the gold and Olympic Industries and Gemini Sea Food Limited bagged Silver and Bronze respectively.

In IT, Telecom Companies category, Bangladesh Submarine Cable Company Limited won the gold while Grameenphone Limited achieved the silver.

In Engineering Companies category, Singer Bangladesh Limited got the gold while BBS Cables Limited and BSRM Steel Limited bagged Silver and Bronze respectively.

In Manufacturing Companies category, British American Tobacco Bangladesh Company Limited won the gold on the other hand RAK Ceramics Bangladesh Ltd. and Premier Cement Mills Limited achieved the Silver and Bronze respectively.

In Fuel & Power Companies category, Summit Power Limited got the gold award for their achievement.

Finally, in Services Companies category, Eastern Housing Limited got gold award while Unique Hotel & Resort Limited achieved the silver

While extending heartiest congratulation to all award recipients, the Finance Minister underscored the present government’s commitment to ensuring good governance and corporate culture in the listed companies of Bangladesh. He applauded the role of the Institute of Chartered Secretaries of Bangladesh for developing professional skills in the Corporate sector.

President of the Institute Mohammad Sanaullah FCS emphasized that practicing good Corporate Governance is the need of the time. It requires the whole hearted commitment of all individuals working in the company for the purpose of sustainable development and maximization of the share value in particular. Good Governance practice helps to improve employees’ morale and high productivity and also ensure long term goals of the business. Introduction of Corporate Governance Code 2018 is one of the bold and timely step of BSEC which will definitely help to develop Corporate Governance practices.