ICAB awards 22 financial outfits for best presented annual report 2018

Published : 30 Nov 2019 07:41 PM | Updated : 06 Sep 2020 12:18 AM

The Institute of Chartered Accountants of Bangladesh (ICAB) distributed awards to the listed and the non-listed 22 entities in 10 different categories including banks, financial services, insurance companies, manufacturing, ICT, non-governmental organizations (NGOs), public sector entities, agriculture, corporate governance and integrated reporting, for their best presented annual reports 2018.  Other 9 Entities also received Certificates of Merit and overall winner was IDLC Finance Limited. 

Also, ICAB nominated 24 Bangladeshi entities have received awards and certificates of merit in different categories of SAFA Best Presented Annual Report Awards & SAARC Anniversary Award for Corporate Governance Disclosures 2018 held at the same venue where BRAC Bank Limited from Bangladesh became overall winner among the SAARC countries in Private Sector Banks including Co-operative Banks category. 

ICAB organized the 19th ICAB National Award for Best Presented Annual Reports 2018 ceremony and hosted the SAFA Best Presented Annual Report Awards & SAARC Anniversary Award for Corporate Governance Disclosures 2018 ceremony at a glittering event at Pan Pacific Sonargaon Hotel, Dhaka on Saturday. 

The Evaluation Criteria of the South Asian Federation of Accountants (SAFA) was followed in evaluating the annual reports. The results of the ICAB National awards were finally approved by the Jury Board headed by Md Matiul Islam FCA, Chairman, IIDFC. 

The other members of the Jury were Ahmed Ataul Hakeem, Former Comptroller and Auditor General of Bangladesh, Siddiqur Rahman Choudhury, Ex Chairman, BSEC, Dr. Atiur Rahman, Former Governor, Bangladesh Bank, Dr. Syed Ferhat Anwar, Director, IBA, University of Dhaka, Dr. Mustafizur Rahman, Distinguished Fellow, Centre for Policy Dialogue,  Shah Husain Imam, Editor, The Financial Express and Dr. Mahmuda Akhter, Council Member, FRC, GoB. 

Tipu Munshi, MP, Minister, Ministry of Commerce, Government of Bangladesh graced the ceremony as the Chief Guest and handed over the prizes among the winners.  Md. Shahriar Alam, MP, State Minister, Ministry of Foreign Affairs, Government of Bangladesh and CQK Mustaq Ahmed, Chairman, Financial Reporting Council (FRC), Bangladesh were present as Special Guests. 

CMA Dr. PVS Jagan Mohan Rao, President, South Asian Federation of Accountants (SAFA) attended the ceremony as Guest of Honour.

ICAB President Nesaruddin  FCA delivered the welcome speech. Muhammed Farhad Hussain FCA, Chairman, Review Committee for Published Accounts & Reports also spoke on the occasion. MDs, DMDs & CFOs from the winning companies and a number of foreign delegates from SAARC Countries were also present in the program.

In Banking Sector (Private) category Bank Asia Limited    secured first prize, BRAC Bank Limited and Southeast Bank Ltd jointly became second prize winners and Mutual Trust Bank Limited was the third prize winner. Five other banks got certificates of merit. 

In category of Financial Service IDLC Finance Ltd and Lanka Bangla Finance Ltd jointly became first prize winners, and IPDC Finance Limited was the second prize winner. 

In Manufacturing British American Tobacco, Bangladesh won the first prize, Bangladesh Steel Re-Rollings Mills Limited won second prize, and United Power Generation & Orion Pharma limited became joint third prize winners. Four other companies got certificates of merits. 

Green Delta Insurance Company Limited became first prize winner, Reliance Insurance Ltd was second and Prime Insurance Ltd was  the third prize winner in Insurance category. 

Ghashful was adjudged with first prize winner, BRAC was second and Sajida Foundation was the third prize winner in Non-Governmental Organizations (NGOs) category. 

Only Grameenphone Limited was the first prize winner     in Category of Communication and Information Technology.  In Public Sector Entities category, Bangladesh Infrastructure Finance Fund Limited (BIFFL) became the first prize winner, Investment Corporation of Bangladesh (ICB) second and Infrastructure Development Company Limited (IDCOL) was the third prize winner. 

Only Golden Harvest Agro Industries Limited was the first prize winner in category of Agriculture. 

In Corporate Governance disclosures, Southeast Bank Ltd was the first winner, Bank Asia Ltd was second and Standard Bank Ltd, Golden Harvest Agro Industries Ltd and British American Tobacco Bangladesh were joint third prize winners. 

In the category of Integrated Reporting IDLC Finance Limited received first prize, BRAC second prize,  Bank Asia Ltd and Lanka Bangla Finance Ltd jointly received third prize.