Institute of Chartered Secretaries of Bangladesh (ICSB) has organized 8th ICSB National Award for Corporate Governance Excellence 2020 at Radisson hotel in the capital on Sunday (12 December).
At the event, 40 companies were recognized for their good corporate governance based on the evaluation criteria of the institute. The companies were mainly assessed on how well they promoted corporate fairness, transparency and accountability in the overall management of their team during the year 2020.
Commerce Minister Tipu Munshi attended the programme as chief guest and distributed trophies and certificates to the winning companies in 13 categories, covering all companies listed under DSE & CSE.
Prof Shibli Rubayat-Ul-Islam,Chairman, BSEC, Tapan Kanti Ghosh,Secretary, Ministry of Commerce, Muzaffar Ahmed FCMA, FCS, President of the Institute, Itrat Husain FCMA, FCS, Past President & Chairman, Corporate Governance Committee spoke at the programme. Muzaffar Ahmed FCMA, FCS, President of ICSB presided over the award function
Among the awardees in the general banking sector, BRAC Bank Limited achieved the gold award while Eastern Bank Limited and Dutch-Bangla Bank Limited obtained silver and bronze respectively.
In the Islamic banking category, Shahjalal Islamic Bank Limited got gold while Islamic Bank Bangladesh Limited and Social Islamic Bank Limited received silver and bronze respectively.
In the category for non-banking financial institutions, Delta BRAC Housing Finance Corporation Limited received the gold while IDLC Finance Limited, and Bangladesh Finance and Investment Company Limited, attained Silver and Bronze respectively.
On the other hand, in the category for General Insurance, Green Delta Insurance Company Limited received the gold award while Reliance Insurance Limited and Prime Insurance Company Limited got silver and bronze respectively.
In the category for Life Insurance companies, Pragati Life Insurance Limited received the gold, National Life Insurance Company Limited achieved silver award and Sonali Life Insurance Company Limited got bronze.
Similarly, in the categories of pharmaceutical and chemical companies, Square Pharmaceuticals Ltd. got the gold while Beximco Pharmaceuticals Limited and IBN SINA Pharmaceutical Industry Ltd. achieved silver and bronze respectively.
In the category for Textiles and RMG companies, Matin Spinning Mills Limited got the gold award, Paramount Textile Limited bagged silver, while Envoy Textiles Limited bagged bronze.
In the category for engineering companies, Singer Bangladesh Limited got gold while BBS Cables Ltd. and Walton Hi-Tech Industries Limited received silver and bronze respectively.
In the category for manufacturing companies, British American Tobacco Bangladesh Company Limited won the gold, on the other hand, Marico Bangladesh Limited achieved the silver. The bronze award was awarded to two companies, LafargeHolcim Bangladesh Limited and RAK Ceramics (Bangladesh) Limited.
Speaking at the programme, Commerce Minister Tipu Munshi,appreciated the ICSB initiative to award the listed companies for practicing good governance. He pointed out that efficient corporate governance is gaining importance in today’s business world. The present government is committed to ensure a culture of good corporate governance among all listed companies in Bangladesh, the Minister said further.
The program was also streamed live on various virtual platforms. Professionals, corporate executives and members of the institute were among others attended the programme.
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