‘Bangabandhu’s vision was to eliminate economic inequality’

Father of the Nation Bangabandhu Sheikh Mujibur Rahman applied his accounting knowledge to eliminate economic inequality and ensure people’s welfare, speakers told a webinar on Thursday.

According to Bangabandhu, the essence of accounting was the desire to spend on the welfare of the poor by preventing the misuse or wastage of state funds and their distribution, they said.

Addressing the webinar on Bangabandhu’s contribution to the audit and accounting professions organised by the Institute of Chartered Accountants of Bangladesh (ICAB) marking his 102nd birth anniversary, State Minister for Planning Dr Shamsul Alam said, “The steps taken by Bangabandhu in the field of industry were significant.”

He said all obstacles had been removed and production in the industrial sector had increased due to Bangabandhu’s strong moves.

“Production was at the core of Bangabandhu’s economic philosophy. Meetings, rallies, parliament – he spoke of increasing production everywhere,” he further said.

Shamsul said it is not possible to reach the desired level of production without the use of accounting and there is an immense need for accountants to ensure the proper use of resources.

He also said the use of accounting is required to verify whether each asset has been used properly and the correct return is coming from it.

Highlighting the steps taken to reform policies after the war, ICAB President Md Shahadat Hossain said an accountant projects the financial condition of an organisation and evaluates its financial performance.

“But Bangabandhu applied his accounting knowledge to eliminate discrepancies between the rich and the poor,” he said.

Sheikh Mohammad Salim Ullah, secretary of the Financial Institutions Division was the special guest while the ICAB president presented the keynote.

Dr Md Salim Uddin, an accounting professor at the University of Chittagong, Md Humayun Kabir, former president and council member of ICAB, Professor Dr Abhinaya Chandra Saha, vice-chancellor at The Millennium University, and Md Nazrul Islam Khan, curator at the Father of the Nation Bangabandhu Sheikh Mujibur Rahman Memorial Museum, also spoke at the programme.

ICAB Vice-President Sidhartha Barua gave closing remarks.