35 listed firms win ICSB Award

Staff Correspondent: The Institute of Chartered Secretaries of Bangladesh (ICSB) has awarded 35 of the locally listed companies for their excellence in corporate governance.

Veteran chartered secretaries and distinguished guests were present at a hotel in Dhaka on 23 January, Saturday evening to recognize and inspire the winners of the 7th ICSB National Award for Corporate Governance Excellence, 2019.

Commerce Minister Tipu Munshi addressed the event as the chief guest, while Jury Board Chairman Dr AB Mirza Azizul Islam spoke on the occasion over telephone.

Winners of the seventh season

Among the awardees, BRAC Bank achieved gold in the General Banking category, while Eastern Bank and Bank Asia obtained silver and bronze respectively.

Islami Bank Bangladesh won gold among the Shariah-compliant banks, while Shahjalal Islami Bank and Al-Arafah Islami Bank received silver and bronze awards respectively.

In the Non-Bank Financial Institutions category, Delta BRAC Housing Finance Corporation achieved gold, while IDLC Finance and IPDC Finance achieved silver and bronze respectively.

Likewise, in the Insurance Companies category, Green Delta Insurance Company received gold, while Reliance Insurance Company and Nitol Insurance Company won silver and bronze respectively.

Pragati Life Insurance was the lone winner among the life insurers.

In the Pharmaceutical and Chemical Companies category, the IBN Sina Pharmaceuticals Industry won gold, while ORION Pharma got the silver and Beximco Pharmaceuticals got the bronze trophy.

Shasha Denims won gold and Paramount Textile bagged silver in the Textiles and RMG Companies category.

In the Food and Allied Companies category, Golden Harvest Agro Industries achieved the gold trophy and National Tea Company got the silver award.

Grameenphone Ltd won gold in the IT and Telecom Companies category, while Bangladesh Submarine Cable Company achieved silver and IT Consultants got the bronze.

In the Engineering Companies category, Singer Bangladesh obtained gold, while BBS Cables bagged silver and BSRM Ltd got the bronze.

RAK Ceramics won gold in the Manufacturing Companies category, while Premier Cement Mills achieved silver and Marico Bangladesh got the bronze.

In the Fuel & Power Companies category, Linde Bangladesh got the gold, while Summit Power received silver and United Power Generation and Distribution Company won bronze.

Finally, in the Services Companies category, Unique Hotel & Resort achieved the gold, while Eastern Housing won silver and Peninsula Chittagong received the bronze award.

The ICSB National Award

ICSB calls for application from listed companies each year. Over 150 companies from 13 different sector categories submitted their annual reports for 2019 fiscal year, along with other supporting information that speak of their corporate governance standard.

The corporate governance committee of ICSB cross checks the information to help an independent jury board composed of external experts to evaluate the companies.

Bangladesh Securities and Exchange Commission’s Chairman Prof Shibli Rubayat-Ul-Islam and Commerce Secretary Dr Md Jafar Uddin participated in the event as special guests.

Besides, ICSB President Muzaffar Ahmed, and former president and current Chairman of Corporate Governance Award Organising Committee Mohammad Sanaullah also spoke on the occasion.

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