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Posted on Dec 22, 2019 |

6th ICSB National Award for Corporate Governance Excellence, 2018

6th ICSB National Award for Corporate Governance Excellence, 2018

Institute of Chartered Secretaries of Bangladesh (ICSB) organized its 6th ICSB National Award for Corporate Governance Excellence, 2018 on Saturday, December 21, 2018 at Grand Ball Room, Radisson Blu Dhaka Water Garden where 32 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 2018.

The award giving ceremony was also addressed by special guest Dr. A B Mirza Md. Azizul Islam, Former Adviser, Ministry of Finance, Planning, Post & Telecommunications, Caretaker Government of Bangladesh and Md. Abdul Karim, Former Principle Secretary, Government of the People’s Republic of Bangladesh. Muzaffar Ahmed FCMA, FCS, President of ICSB chaired the Award giving Program. The special guest presented crests and certificates to winning companies in 11 categories covering all listed companies under DSE & CSE.

Among the awardees in the Banking sector Bank Asia Limited achieved the Gold while BRAC Bank Limited and Eastern Bank Limited obtained Silver and Bronze respectively. 

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

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

In the Pharmaceutical and Chemical Companies category The IBN SINA Pharmaceuticals Industry Limited awarded the gold while Square Pharmaceutical Limited and ORION Pharma Limited won Silver trophy jointly.

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

In Food and Allied Companies category, Golden Harvest Agro Industries Limited achieved the gold trophy. Gemini Sea Food Limited and AMAN FEED Limited bagged Silver and Bronze respectively.

In IT, Telecom Companies category, Bangladesh Submarine Cable Company Limited won the gold while Grameenphone Limited and BDCOM Online Limited achieved the Silver and Bronze respectively.

In Engineering Companies category, Singer Bangladesh Limited obtained the gold while BSRM Steel Limited and BBS Cables 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 Limited and Premier Cement Mills Limited achieved the Silver and Bronze respectively.

In Fuel & Power Companies category, MJL Bangladesh Limited got the gold award while Linde Bangladesh Limited and Summit Power Limited achieved the Silver and Bronze respectively.

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, Mr. Akhter Matin Chaudhury, Chairman, Corporate Governance Committee, ICSB underscored the present government’s commitment to ensure 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 Muzaffar Ahmed FCMA, 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.

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