Institute of Chartered Secretaries of Bangladesh (ICSB) has awarded 37 companies for their outstanding corporate governance practices, as well as transparency and accountability in overall management.
The 9th ICSB National Award for Corporate Governance Excellence, 2021 was organised by ICSB at a hotel in Dhaka, read a press release received Saturday.
The companies were mainly judged in terms of how perfectly they promoted corporate governance, transparency and accountability in the overall management of their team during the year 2021.
They were also judged on ensuring compliance with the Corporate Governance Code of the Bangladesh Securities and Exchange Commission (BSEC).
The award’s theme this year was “Promoting Governing Excellence”. Prime Minister's Private Sector Industry and Investment Adviser Salman F Rahman graced the occasion as the chief guest.
Special guests Planning Minister MA Mannan and Commerce Ministry Senior Secretary Tapan Kanti Ghosh, and the chief guest presented trophies and certificates to 37 winning companies under 12 categories, who are listed with the DSE and CSE.
ICSB President Mohammad Asad Ullah FCS, Senior Vice President M Nurul Alam FCS, and Corporate Governance Excellence Award Committee Chairman Mohammad Shafiqul Islam Bhuiyan ACS, and senior officials of various organisations were also present.
Delivering his speech as the chief guest, Salman F Rahman said, “The art of business management is diversified in nature, but the Bangladesh Securities & Exchange Commission has listed characteristics of such diversified fields into a common framework which are independently certified by professionals of the field in public practice.
“This ICSB platform is also an opportunity for all eligible public listed companies in the country to see their corporate governance performance through an independent judgment.
“I assure full cooperation from the government for the overall development of ICSB so that ICSB can play a more significant role in the future development of the country.”
Congratulating the winners, he said, “I express my heartfelt congratulations to the companies who won the Corporate Governance Award prizes today for the year 2021 and also congratulate those who have not won the prizes.
“I believe that the Companies that have not won today will do better next year, and be able to attain the prizes in coming years.”
Addressing the event as a special guest, Planning Minister MA Mannan said, “I am extremely glad to speak at the 9th ICSB National Award for Corporate Governance Excellence 2021.
“Already, this event has created a huge wave of enthusiasm among the Corporate Professionals of Bangladesh.
“The most important contribution of this event so far is creating awareness about good governance, transparency and accountability in corporate management.”
Senior Secretary Tapan Kanti Ghosh said, “I appreciate the effort being made by ICSB for identifying and recognising the best corporate houses.
I believe that this award will encourage other corporate houses in Bangladesh to improve their governance and compliance issues, which will contribute to corporate sustainability and ultimately contribute to the country's socio-economic development and enhance our country’s global competitiveness.”
ICSB President Mohammad Asad Ullah FCS said, “We urged upon our Honourable Chief Guest and Special Guests, sir, to take appropriate measures and initiatives from the Govt. to further develop the profession of ICSB.”
Corporate Governance Excellence Award Committee Chairman M Nurul Alam, FCS, said, “In order to encourage corporate houses for practicing good governance as well as recognising their contribution to the good governance practice at the organisation level, ICSB has introduced the National Award for Corporate Governance Excellence in 2013.
"Since then, this award has become a much-awaited award ceremony in the corporate sector of Bangladesh.”
Companies were recognised with awards in the gold, silver, and bronze categories.
Eastern Bank Limited won the gold trophy in the general banking sector while Mercantile Bank Limited secured silver and BRAC Bank Limited bronze.
Shahjalal Islami Bank Limited received the gold award in the Islami Banking category.
DBH Finance PLC won the gold award in the non-banking financial institutions category while IDLC Finance Limited bagged silver and Bangladesh Finance Limited received the bronze award.
In the General Insurance category, the gold trophy went to Green Delta Insurance Company Limited, the silver to Reliance Insurance Limited & Peoples Insurance Company Limited and the bronze to Sena Kallyan Insurance Company Limited & City General Insurance Company Limited.
In the life insurance category, Pragati Life Insurance Limited bagged the gold award and National Life Insurance Company Limited received silver and Sandhani Life Insurance Company Limited the bronze trophy.
Beximco Pharmaceuticals Limited took home the top honour in the pharmaceuticals and chemical category Square Pharmaceuticals Limited won silver and Orion Pharma Limited bronze.
In the textile and RMG company category, Paramount Textile PLC bagged the gold, Matin Spinning Mills PLC got silver and Square Textiles Limited the bronze trophy.
Unilever Consumer Care Limited won gold, Golden Harvest Agro Industries Limited silver and Olympic Industries Limited bronze respectively in the food and allied company category.
Walton Hi-Tech Industries PLC. got the gold trophy in the engineering category, Singer Bangladesh Limited silver and Runner Automobiles PLC bronze.
RAK Ceramics (Bangladesh) Limited & Marico Bangladesh Limited won the gold and LafargeHolcim Bangladesh Limited & Premier Cement Mills PLC bagged silver respectively in the manufacturing category.
In the fuel and power company category, United Power Generation & Distribution Company Limited secured gold, Summit Power Limited silver and Doreen Power Generations and Systems Limited received the bronze award.
Eastern Housing Limited won the top honour in the service company category while Unique Hotel & Resorts PLC bagged silver and Index Agro Industries Limited bronze.
Dignitaries, professionals from different sectors, chairmen, directors, managing directors and corporate executives of the nation’s top corporate houses, members of the institute, media and journalists attended the event.
The guests praised ICSB’s contribution to building governance and ensuring sustainable development in the business community of Bangladesh.
