Bangladeshi entities have received the highest number of awards in SAFA (South Asian Federation of Accountants) Best Presented Annual Report Awards, Integrated Reporting Awards & SAARC Anniversary Awards for Corporate Governance Disclosure 2020 competition.
They have received a total of 21 awards out of 58 distributed among the SAARC countries, said a press release on Wednesday.
This year the regional awards competition was organised virtually by the Institute of Chartered Accountants of Sri Lanka (ICASL) on Wednesday when Bangladeshi winning entities received the awards from the Institute of Chartered Accountants of Bangladesh (ICAB) connecting with the ceremony virtually.
On behalf of SAFA ICAB President Shahadat Hossain handed over the prizes to the winners while vice-presidents NKA Mobin and Fouzia Haque, and Chief Executive Officer Shubhashish Bose were present.
The awards are considered as the most prestigious accolades for financial reporting in the countries of the South Asian region.
It signifies organisations which have achieved excellence in presentation and disclosure of high quality, relevant, reliable and objective information in the financial statements in accordance with the international framework.
Winners as per categories
In the overall winners’ category Bank Asia Ltd (Bangladesh) became the winner, Rupali Bank Ltd (Bangladesh) and Fauji Fertiliser Company Limited (Pakistan) became Joint 1st Runners-Up, and the Shahjala Islami Bank Ltd (Bangladesh) became 2nd Runner-Up for their best performance in the regional competition.
In Private Sector Banking Institutions (including Co-operative Banks) category, Bank Asia Limited (Bangladesh) became the winner. The Shahajalal Islami Bank Limited (Bangladesh) became 1st Runner-Up and the Bank Alfalah Limited (Pakistan), and MCB Bank Limited (Pakistan) became joint 2nd Runners-Up.
In the category of Public Sector Banking Institutions, Rupali Bank Limited became the winner, People's Bank (Sri Lanka) became 1st Runner-Up and National Bank of Pakistan (Pakistan) became 2nd Runner-Up.
Insurance Sector, Prime Insurance Co Ltd (Bangladesh) became the winner, Reliance Insurance Co Ltd (Bangladesh) became the 1st Runner-Up and Softlogic Life Insurance PLC (Sri Lanka), Jubilee General Insurance Co Ltd (Pakistan) and Union Assurance PLC (Sri Lanka) became Joint 2nd Runner-up.
In Financial Services Sector, IDLC Finance Ltd (Bangladesh) became the winner, Bangladesh Finance Ltd became 1st Runner-Up, Alliance Finance Company PLC (Sri Lanka), Peoples Leasing & Finance PLC (Sri Lanka) and First Habib Modaraba (Pakistan) became the Joint 2nd Runners-Up.
In Manufacturing Sector, Fauji Fertiliser Company Limited (Pakistan) became the winner, British American Tobacco BD Co Ltd and RAK Ceramics (Bangladesh) Ltd became Joint 1st Runners-Up and GSK Consumer Healthcare Pakistan Limited (Pakistan) and Engro Polymer and Chemical Limited (Pakistan) became Joint 2nd Runners-Up.
In Communication and Information Technology Sector, Sri Lanka Telecom PLC became the winner and Grameenphone Ltd (Bangladesh) became the 1st Runner-Up.
Service Sector (Excluding Financial Services & Communication & IT Sector), Singer Sri Lanka Telecom PLC became the winner and Unique Hotels & Resorts Limited (Bangladesh) became the 1st Runner-Up.
In the category of Non-Governmental Organizations (including NPOs), Ghashful (Bangladesh) became the winner, Sajida Foundation (Bangladesh) became the 1st Runner-Up. Sri Lanka Institute of Marketing and The Citizens Foundation (Pakistan) became the Joint 2nd Runners-Up.
In Agricultural Sector, Namunkula Plantations PLC (Sri Lanka) became the Winner.
In the category of SAARC Anniversary Award for Corporate Governance, Bank Asia Limited (Bangladesh) became the winner, Shahjalal Islami Bank Ltd (Bangladesh) and Lanka Bangla Finance (Bangladesh) became the Joint 1st Runners-Up. Softlogic Life Insurance PLC, Commercial Bank of Ceylon PLC (Sri Lanka) and MCB Bank Limited (Pakistan) became the Joint 2nd Runners-Up.
In the Public Sector Entities category, Pakistan Petroleum Limited became the winner, Oil and Gas Development Company Limited (Pakistan) became the 1st Runner-Up and Pakistan State Oil Company Limited (Pakistan) became the 2nd Runners-Up.
In Diversified holdings category, Cresent Steel & Allied Products Limited (Pakistan) became the winner, John Keells Holding PLC (Sri Lanka) and Diesel & Motor Engineering PLC (Sri Lanka) became the Joint 1st Runners-Up.
In the category of Power & Energy, Engro Powergen Qadirpur Limited (Pakistan) and The Hub Power Company Limited (Pakistan) became the joint winners and the K-Electric Limited (Pakistan) became 1st Runner-Up. Tata Power Company Ltd (India) became the 2nd Runner-Up.
In Infrastructure & Construction category, Access Engineering PLC (Sri Lanka) became Winner and RIL Property PLC (Sri Lanka) became the 1st Runner-Up.
Integrated Reporting category, IDLC Finance Ltd (Bangladesh) and National Development Bank PLC (Sri Lanka) became joint winners while Fauji Fertiliser Company Limited (Pakistan) became 1st Runner-Up and LankaBangla Finance Limited (Bangladesh) and John Keells Holdings PLC (Sri Lanka) became Joint 2nd Runners-Up. Besides, a total of 43 certificates of merit awards were also distributed among organisations.
