ICSB CPD Program held on Corporate Governance Practice in Bangladesh
Institute of Chartered Secretaries of Bangladesh (ICSB) organized a Continuing Professional Development (CPD) Program on “Corporate Governance Practice in Bangladesh” on Wednesday, December 30, 2015 at the Institute Premises at Padma Life Tower (7th Floor) 115 Kazi Nazrul Islam Avenue, Bangla Motor, Dhaka-1000. A large number of Members of ICSB participated in this programme.
Mohammad Sanaullah FCS, Immediate Past President, ICSB and Corporate Affairs Director & Company Secretary, Singer Bangladesh Ltd. presented the Keynote Paper, while Prof. Md. Helal Uddin Nizami, Commissioner, Bangladesh Securities & Exchange Commission (BSEC) was the Session Chairman. Mohammad Asad Ullah FCS President of the Institute was also present.
Mr. Sanaullah in his presentation highlighted on some important features of global best practices of corporate governance, while he also reviewed the existing guidelines of corporate governance along with comparison. He mentioned that corporate governance is the system by which companies are directed, managed and encouraged to create value and provide accountability and control systems commensurate with the risks involved. Mr. Sanaullah produced very timely recommendations in the eve of the third edition of the corporate governance the country is supposed to have. On his recommendations, Mr. Sanaullah urged brining necessary modifications in the guidelines taking into account the global best practices and the practices of neighboring country. Among others, he highlighted on board composition including non-executive chairman, more independent directors, code of conduct, nomination and remuneration committee, evaluation and induction of directors, whistle blowing policy, apply secretarial standards, separating the position of CFO and company secretary, appointing key managerial personnel etc.
Official Discussants were Mr. Md. Azizur Rahman FCS, Company Secretary, British American Tobacco (Bangladesh) Co. Ltd. Mr. Hossain Sadat FCS, Director, Regulatory Affairs & Company Secretary, Grameenphone Ltd.
Thereafter qualitative and fruitful discussions were held during a question-answer session between the participating Members of the Institute and the Keynote Presenter.
Prof. Md. Helal Uddin Nizami as Session Chairman moderated and summed up the whole session. He said the BSEC would like to establish a sound corporate governance practice in the country. He also pointed out that the Commission has taken initiative to update the present Corporate Governance Guidelines. In this respect the outcome and recommendations of the CPD program will be very much helpful.
He highly appreciated the Institute for arranging such an important topic in the CPD program. The Programme was attended by a large number of members of the Institute who are working in different listed companies of the country
From left: Mr. Md. Azizur Rahman FCS, Mohammad Sanaullah FCS, Prof. Md. Helal Uddin Nizami, Mohammad Asad Ullah FCS and Mr. Hossain Sadat FCS.
Published in Online paper link are below: