BD entities win awards in SAFA award competition


Among the countries in South Asian Region Bangladeshi entities scored top in 8 categories of SAFA Best Published Annual Reports Award competition 2019. The entities were Bank Asia limited, Reliance Insurance limited, IDLC Finance limited, Orion Pharma limited, Grameenphone Limited and  Golden Harvest Agro Industries limited. Reliance Insurance Ltd of Bangladesh awarded as the ‘overall winner’.

19 Bangladeshi companies (listed & Non-listed)nominated by the Institute of Chartered Accountants of Bangladesh(ICAB) participated in the 11 sectors out of 13 categories of SAFA Best Published Annual Reports Award competition 2019. This year, total 101 companies from Bangladesh, India, Pakistan, Nepal and Sri Lanka took part in this competition. 

This outstanding performance of Bangladeshi organizations reflected the awareness of the entities in Bangladesh, striving to accomplish the highest standards of governance, compliances and disclosures of stakeholder information in their published reports.

The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) organized the virtual SAFA Best Presented Annual Reports Award, Integrated Reporting Award and SAARC Anniversary Award for Corporate Governance Disclosures 2019 ceremony on 23 December 2020, in which Bangladeshi entities were connected through zoom at ICAB Auditorium, CA Bhaban, Dhaka and they received awards from ICAB President Muhammad Farooq FCA, SAFA Vice President  AKM Delwer Hussain FCMA and Mohammed Humayun Kabir FCA, Member Council & Past President ICAB and Chairman RCPAR of Council-ICAB.

In private sector banks category, Bank Asia limited became winner, Shahjalal Islami Bank limited became joint first runner-up and BRAC bank limited joint second runner up. 

In insurance category, Reliance Insurance limited was winner, Green Delta Insurance Company limited and Prime Insurance Company limited received certificate of merit. 

In Financial service sector, IDLC Finance limited became winner, IPDC Finance limited and LankaBangla Finance Limited became joint second runner up. 

In manufacturer category Orion Pharma limited became joint winner, British American Tobacco Bangladesh became first runner up and Summit Power Limited got certificate of merit. 

In Communication and Information Technology, Grameenphone Limited was the winner. In service sector Unique Hotel & Resort limited became second runner up. In NGOs including NPOs category Sajida Foundation became joint first runner-up, Ghashful joint second runner-up and CODEC received certificate of merit. 

In agriculture, Golden Harvest Agro Industries limited became joint winner. In public Sector category, Investment Corporation of Bangladesh received certificate of merit. 

In SAARC Anniversary Award for Corporate Governance IDLC Finance limited became winner, LankaBangla Finance limited became first runner up and Bank Asia limited joint second runner-up. 

In Integrated Reporting, IDLC Finance limited become winner, LankaBangla Finance limited became second runner up and Bank Asia limited received certificate of merit.  

SAFA is the association of the national Chartered Accountancy and Cost & Management Accountancy Institutions in the SAARC countries namely Bangladesh, India, Pakistan, Nepal, Sri Lanka, Maldives and Afghanistan. This is a distinctly glorious annual event of SAFA to promote transparency and accountability through the financial and non-financial disclosures in the published annual reports in SAARC countries.