Staff Reporter : The Institute of Chartered Secretaries of Bangladesh (ICSB) organized the 12th ICSB National Award for Corporate Governance Excellence, 2024, recognizing listed companies for their outstanding commitment to corporate governance, transparency, and accountability. The theme of the award was “Promoting Governing Excellence.”
The award recognized companies that demonstrated excellence in governance practices during 2024 in compliance with the Corporate Governance Codes of the Bangladesh Securities and Exchange Commission (BSEC) and relevant regulatory frameworks.
SK. Bashir Uddin, Honorable Adviser, Ministry of Commerce, Government of the People’s Republic of Bangladesh, graced the occasion as the Chief Guest. Lutfey Siddiqi, Special Envoy on International Affairs to the Chief Adviser, Government of the People’s Republic of Bangladesh, attended the event as the Guest of Honour.
The programme was further honoured by the presence of Dr. Ahsan H. Mansur, Governor, Bangladesh Bank; Dr. Md. Habibur Rahman, Deputy Governor, Bangladesh Bank, Md. Saifuddin, CFA, Commissioner, Bangladesh Securities and Exchange Commission (BSEC) and Dr. Md Sajjad Hossain Bhuiyan, Chairman, Financial Reporting Council (FRC), as Special Guests.
The ceremony was presided over by Hossain Sadat FCS, President of ICSB. Md. Abdullah Al Mamun FCS, Chairman, Corporate Governance Committee, ICSB, presented the overview of the Corporate Governance Awarding Charter.
43 winning companies listed on the Dhaka Stock Exchange PLC and Chittagong Stock Exchange PLC were recognized under 14 different categories and were awarded Gold, Silver, and Bronze trophies. Chief guest, guest of honour and special guests handed over the trophies and certificates among the winning companies.
BRAC Bank PLC. has won the Gold trophy in the General Banking category while Eastern Bank PLC. has secured silver and City Bank PLC. Bronze.
Shahjalal Islami Bank PLC. has won the Gold award in the Islamic Banking category.
IDLC Finance PLC. has won the Gold award in the Non-Banking Financial Institutions category while DBH Finance PLC. has bagged Silver and IPDC Finance PLC. has received Bronze award.
In the General Insurance category, the Gold trophy have jointly won by City Insurance PLC. & Sena Insurance PLC the Silver has gone to Green Delta Insurance PLC. and the Bronze to Reliance Insurance PLC.
In the Life Insurance category Sandhani Life Insurance Company Ltd. has bagged Silver award while National Life Insurance PLC & Chartered Life Insurance PLC have jointly received Bronze trophy.
Reckitt Benckiser (Bangladesh) PLC took home the top honor in the Pharmaceuticals and Chemical category The IBN Sina Pharmaceutical Industry PLC has won Silver and Square Pharmaceuticals PLC. has received Bronze trophy.
In the Textile and RMG Company category, Paramount Textile PLC has bagged the Gold, Matin Spinning Mills PLC & Tosrifa Industries Ltd. both have got Silver and Envoy Textiles Limited has received Bronze trophy.
Unilever Consumer Care Limited has won Gold, Olympic Industries PLC. has won Silver and Agricultural Marketing Co. Ltd. and Golden Harvest Agro Industries Ltd. both have won Bronze in the Food and Allied Company category.
ADN Telecom Limited has got the Gold trophy in the Information and Communication Technology category while aamra networks limited has won Silver and Daffodil Computers PLC. has received Bronze trophy.
Walton Hi-Tech Industries PLC. has got the Gold trophy in the Engineering category, Bangladesh Steel Re-Rolling Mills Limited and BSRM Steels Limited both have won Silver and Rangpur Foundry Limited has won Bronze trophy.
LafargeHolcim Bangladesh PLC. has won the Gold, Heidelberg Materials Bangladesh PLC. has bagged Silver and Index Agro Industries Limited has received Bronze trophy in the Manufacturing category.
In the Fuel and Power Company category, Linde Bangladesh Limited has secured Gold and United Power Generation & Distribution Company Ltd. & Doreen Power Generations and Systems Limited both have received Bronze trophy.
Unique Hotel & Resorts PLC has won the top honor in the Service Company category while Eastern Housing Limited has bagged Silver.
In the Telecommunications category, Grameenphone Ltd. has bagged Gold award and Robi Axiata PLC. has received Silver and Bangladesh Submarine Cables PLC has secured Bronze trophy.
Speaking as the Chief Guest, SK. Bashir Uddin said, “Corporate Governance Excellence Award stands not merely as a symbol of recognition, but as a benchmark for exemplary corporate governance practices in our country. I am confident that the Institute will continue to nurture a new generation of competent, ethical, and forward-thinking governance professionals who will play a pivotal role in shaping Bangladesh’s corporate. future.”
of Addressing the programme as the Guest Honour, Lutfey Siddiqi said, ‘ICSB has played a vital role in strengthening corporate governance across sectors by promoting ethical. leadership and professional excellence. Strong governance must remain central to building a prosperous, democratic, and resilient Bangladesh.’
Dr. Ahsan H. Mansur, Governor, Bangladesh Bank said, ‘This initiative by ICSB to recognize those who are performing well and are engaged in advancing their organizations through professionalism while safeguarding institutional interests is truly commendable. Such events inspire organizations to maintain excellence in corporate governance and ensure internal good governance.’
Dr. Md. Habibur Rahman, Deputy Governor, Bangladesh Bank said, ‘Strong corporate governance is the foundation of sustainable business growth, fostering transparency, accountability, and ethical leadership. It is not merely about regulatory compliance, but a strategic advantage that builds stakeholder trust and drives long-term economic success.’
Md. Saifuddin, CFA, Commissioner, BSEC said, ‘By promoting compliance and ethical management, strong. governance not only enhances stakeholder confidence but also strengthens Bangladesh’s competitiveness and attractiveness to global investors.”
Dr. Md Sajjad Hossain Bhuiyan, Chairman, Financial Reporting Council (FRC) said, ‘Corporate governance is the foundation of trust, transparency, and accountability in any organization. Recognitions like the ICSB
Corporate Governance Excellence Award not only honor best practices but also inspire institutions to strengthen ethical conduct, investor confidence, and long-term sustainability.’
In his welcome address, Hossain Sadat FCS, President of ICSB, called for shared commitment for advancing corporate governance towards national development. He emphasised on incorporating ICSB submitted reform proposals into the exiting Company’s Act making it progressive and forward leaning.
Earlier, Md. Abdullah Al Mamun FCS, Chairman of the Corporate Governance Committee, highlighted the evaluation process and emphasized alignment with regulatory requirements and best global practices.
At the ending speech of the ceremony, Mohammad Shafiqul Islam Bhuiyan, FCS, council member of ICSB thanked everyone on behalf of ICSB.
The event was attended by dignitaries, government officials, eminent professionals, chairpersons, managing directors, directors, and senior officials from country’s leading corporate houses, along with members of the Institute and journalists. The guests commended ICSB’s role in establishing governance in the Corporate Sector of Bangladesh and ensuring sustainable development.