2nd ICSB National Award for Corporate Governance Excellence -2014 by ICSB Bangladesh

Institute of Chartered Secretaries of Bangladesh A

S t a t u t o r y

B o d y

U n d e r

a n

A c t

o f

P a r l i a m e n t

INSTITUTE OF CHARTERED SECRETARIES OF BANGLADESH (ICSB)

The Founding Members F-0001

F-0007

Muzaffar Ahmed FCMA, FCS President & CEO Credit Rating Information & Services Ltd.

Md. Saiduzzaman FCA, FCS Director - Finance & Accounts Independent University, Bangladesh

F-0008

F-0002

Md. Yeamin Hossain FCIS, FCS Former Director GQ Ball Pen Ind. Ltd.

Late M. S. Alam Mia FCS Founder Secretary, ICSB

F-0003

F-0009

A K A Muqtadir FCS Chief Consultant Al-Muqtadir Associates Chartered Secretaries & Consultants

Itrat Husain FCMA, FCS

Chief Executive Itrat Husain & Associates Chartered Secretaries in Practice

F-0004

F-0010

Mohammad Sanaullah FIPM, FCS Director & Company Secretary Singer Bangladesh Limited

Sultan-ul-Abedine Molla FCS Member Insurance Development and Regulatory Authority (IDRA)

F-0005

F-0011

Md. Zahangir Alam FCS Managing Director Design & Source Ltd.

Muhammed Abul Hashem LLM, FCA, FCS Director-Finance TOMA GROUP

F-0006

F-0013

Md. Siddiqur Rahman FCS Managing Director SIMTEX Industries Limited

N. G. Chakraborty FCA, FCS

Partner, Sadhan Das & Co. Chartered Accountants

F-0012 Late Anwarul Afzal FCS Former Company Secretary Reneta Limited

INSTITUTE OF CHARTERED SECRETARIES OF BANGLADESH (ICSB)

CONTENTS Sponsors and Patrons

About ICSB

ICSB Council 2014 -2016

Corporate Governance Award Committee

Organizing Committee and Different Sub-Committees for 2nd CGEA-2014

Messages

Foreword – President of ICSB

Welcome address by the President of ICSB

Foreword – Chairman, Corporate Governance Award Sub-Committee

Editorial

The Galaxy of the Past Presidents

Transforming Compliance to Governance – Prof. Dr. Feroz I. Faruque FCS

Profiles of the Members of the Jury Board

The Institute –in Retrospect

Landmarks in ICSB History

Memorable Moments of the Institute

Articles

WE GRATEFULLY ACKNOWLEDGE THE SUPPORT FROM OUR SPONSORS AND PATRONS KEY SPONSORSHIP

Premier Cement Mills Limited Islami Bank Bangladesh Ltd. United Commercial Bank Ltd. Eastern Bank Limited British American Tobacco Bd. Ltd. Social Islami Bank Limited BEXIMCO Pharmaceuticals Ltd. Popular Life Insurance Company Limited

GOLDEN SPONSORS

IFIC Bank Limited Summit Power Limited Green Delta Insurance Co. Ltd. Prime Finance & Investment Limited

SILVER SPONSORS

Jamuna Bank Ltd. Southeast Bank Ltd. Mutual Trust Bank Limited Singer Bangladesh Limited Delta Brac Housing Finance Corporation Ltd. The Ibn Sina Pharmaceuticals Industry Ltd. Advanced Chemical Industries Limited Bangladesh Submarine Cable Limited Square Pharmaceuticals Limited Green University of Bangladesh Chittagong Stock Exchange Ltd. aamra technologies limited

PATRONS

Gemcon Group United Finance Limited Grameenphone Limited Mercantile Bank Limited Dhaka Stock Exchange Ltd. Agriculture Marketing Company Limited

2nd ICSB National Award for Corporate Governance Excellence | 2014

INSTITUTE OF CHARTERED SECRETARIES OF BANGLADESH (ICSB) ICSB IS LEADING WITH KEY MEASURES TO PROMOTE AND FACILITATE GOOD GOVERNANCE IN THE CORPORATE SECTOR OF BANGLADESH IN LINE WITH GLOBAL BEST PRACTICES. FIRST EVER, ICSB HAS BEEN WORKING WITH NOBLE PRINCIPLES FOR RECOGNITION AND AWARDING THE LISTED COMPANIES IN BANGLADESH FOR THEIR SIGNIFICANT CONTRIBUTION TO SUSTAINABLE GOOD GOVERNANCE. The Institute of Chartered Secretaries of Bangladesh (ICSB) was established under an Act of Parliament i.e. Chartered Secretaries Act 2010, is the only recognized professional body in Bangladesh to develop, promote and regulate the profession of Chartered/Company Secretaries in Bangladesh. 8LI EÇşEMVW SJ XLI .RWXMXYXI EVI QEREKIH F] E (SYRGMP GSRWMWXMRK SJ XLMVXIIR IPIGXIH QIQFIVW ERH ÇťZI nominated members from the Government. The Institute is leading with key measures to promote and facilitate good governance in the corporate sector of the country. These key measures include Continuous Professional Development (CPD), Training, developing professional standards, and facilitating formulation of related regulations. For the last several years, the Institute has been working with noble principles for recognition of listed GSQTERMIW MR 'ERKPEHIWL JSV XLIMV WMKRMÇťGERX GSRXVMFYXMSR XS WYWXEMREFPI KSSH KSZIVRERGI 8LI awardees of ICSB National Awards for Corporate Governance Excellence are selected through a rigorous comprehensive evaluation process undertaken by an eminent independent â&#x20AC;&#x153;Jury Boardâ&#x20AC;?. A charter for Corporate Governance Excellence Award was approved by the Council of the Institute and the same was adopted by the Jury Board. Four Technical Committees were formed comprising of learned Fellow Members of the Institute for related evaluation of the annual reports, and other relevant information/ documents of the participating companies. 8LI TEVXMGMTERX (SQTERMIW LEZI FIIR KVSYTIH MRXS XIR HMÇşIVIRX GEXIKSVMIW [LMPI XEOMRK EHIUYEXI GEVI XS EZSMH ER] GSRÇźMGX SJ MRXIVIWX MR EWWMKRMRK XLI IZEPYEXMSR XEWOW EQSRK XLI XIR 8IGLRMGEP (SQQMXXIIW 8LIVI [MPP FI XLVII E[EVHW MR IEGL GEXIKSV] SJ (SQTERMIW VEROMRK MRXS ÇťVWX WIGSRH ERH third in order of merit (points scored in the assessment). The Institute is a Member of Corporate Secretariesâ&#x20AC;&#x2122; International Association (CSIA), Geneva, [MX^IVPERH [LMGL MW XLI KPSFEP ZSMGI SJ (SVTSVEXI ,SZIVRERGI 8LI ÇťVWX IZIV (SVTSVEXI ,SZIVRERGI Excellence Award initiated by ICSB is a commendable step forward and will remain as a milestone in the records of the corporate governance history of Bangladesh. Press releases were made in the leading daily newspapers inviting annual reports from listed companies and we were glad to register a tremendous response from almost all the segments of the corporate sector in Bangladesh. We received a good number of annual reports from companies listed with the stock exchanges of the country. The winning companies will be awarded in a grand ceremony in Dhaka in the presence of dignitaries, business leaders and specialists. A Souvenir on â&#x20AC;&#x153;2nd ICSB National Award for Corporate Governance Excellence, 2014â&#x20AC;? will be published with a brief background and success stories of the respective winning companies along with the list of participants.

2nd ICSB National Award for Corporate Governance Excellence | 2014

THE GOVERNING COUNCIL 2014-2016

2nd ICSB National Award for Corporate Governance Excellence | 2014

CORPORATE GOVERNANCE AWARD COMMITTEE

M. Nurul Alam FCS Chairman

Mohammad Asad Ullah FCS Member

Mohammad Bul Hassan FCS Member

ATM Tahmiduzzaman FCS Member

N. G. Chakraborty FCS Member

Prof. Md. Helal Uddin Nizami Commissioner, BSEC Member

2nd ICSB National Award for Corporate Governance Excellence | 2014

ORGANIZING COMMITTEE AND DIFFERENT SUB-COMMITTEES for 2 nd ICSB National Award for Corporate Governance Excellence 2014

Organizing Committee 1.

Mohammad Asad Ullah FCS [F-0025]

M Naseemul Hye FCS [F-0056]

Member

Md. Monirul Alam FCS [F-0069]

Member

Mohammad Bul Hassan FCS [F-0113]

Member

Itrat Husain FCS [F-0009]

Member

N. G. Chakraborty FCS [F-0013]

Member

Md. Shahid Farooqui FCS [F-0037]

Member

Mohammad Nurul Alam FCS [F-0095]

Member

Md. Shawkat Ali Waresi, Addl. Secretary, MOC

Member

10. Prof. Dr. Feroz I. Faruque FCS [F-0030] 11. S. Abdur Rashid FCS [F-0104]

Chairman

Member Member Secretary

Fund Raising Sub-Committee

Mohammad Asad Ullah FCS [F-0025]

Prof. Md. Helal Uddin Nizami, Commissioner, BSEC

Member

Bijon Kumar Baishya, Registrar, JSC&F

Member

M Naseemul Hye FCS [F-0056]

Member

Md. Monirul Alam FCS [F-0069]

Member

Mohammad Bul Hassan FCS [F-0113]

Member

Itrat Husain FCS [F-0009]

Member

N. G. Chakraborty FCS [F-0013]

Member

Md. Shahid Farooqui FCS [F-0037]

Member

10. Md. Azizur Rahman FCS [F-0064]

Member

11. Md. Selim Reza FCS [F-0067]

Member

12. M Nurul Alam FCS [F-0095]

Member

13. Hossain Sadat FCS [F-0105]

Member

2nd ICSB National Award for Corporate Governance Excellence | 2014

Chairman

14. ATM Tahmiduzzaman FCS [F-0156]

Member

15. Mohammad Sayduzzaman FCS [F-0112]

Member

16. Md. Hashim Reza FCS [F-0121]

Member

17. Jashim Uddin FCS [F-0123]

Member

18. Md. Mozharul Islam FCS [F-0124]

Member

19. Syed Moniruzzaman FCS [F-0141]

Member

20. Md. Munirul Hoque FCS [F-0160]

Member

21. Wahida Prodhan ACS [A-0271]

Member

22. Muhammad Aminur Rahman ACS [A-0288]

Member

23. Shahadat Hossain Chowdhury ACS [A-0291]

Member

24. Gopal Chandra Debnath FCS [F-0114]

Member Secretary

Event Management Sub-Committee 1.

N. G. Chakraborty FCS [F-0013]

Chairman

Md. Azizur Rahman FCS [F-0064]

Co-Chairman

Md. Selim Reza FCS [F-0067]

Co-Chairman

Bipul Kumar Bhowmik FCS [F-0086]

Member

Kazi Atiqur Rahman FCS [F-0108]

Member

Khalid Mohammad Sharif ACS [A-0225]

Member

Md. Shiful Islam ACS [A-0293]

Member

Md. Sharif Hasan ACS [A-0312]

Member Secretary

Crest & Presentation Sub-Committee 1.

Mohammad Bul Hassan FCS [F-0113]

Chairman

ATM Tahmiduzzaman FCS [F-0156]

Tauhidul Ashraf FCS [F-0101]

Member

Md. Shah Alam Miah FCS [F-0103]

Member

S. Abdur Rashid FCS [F-0104]

Member

Md. Hasanur Rahman Rakib FCS [F-0139]

Member

Md. Mokammel Hoque ACS [A-0241]

Co-Chairman

Member Secretary

2nd ICSB National Award for Corporate Governance Excellence | 2014

Registration and Reception Sub-Committee 1.

M Naseemul Hye FCS [F-0056]

Chairman

Nazmul Karim FCS [F-0085]

Gopal Chandra Debnath FCS [F-0114]

Member

Muhammad Aminur Rahman ACS [A-0288]

Member

Md. Shiful Islam ACS [A-0293]

Member

Kh. Nasir Uddin Mahmud ACS [A-0296]

Co-Chairman

Member Secretary

Souvenir Sub-Committee 1.

Prof. Dr. Feroz I. Faruque FCS [F-0030]

Chairman

M Nurul Alam FCS [F-0095]

Co-Chairman

Hossain Sadat FCS [F-0105]

Member

Kazi Ashiqur Rahman FCS [F-0070]

Member

Nazmul Karim FCS [F-0085]

Member Secretary

Media & Publicity Sub-Committee 1.

Md. Shahid Farooqui FCS [F-0037]

Md. Monirul Alam FCS [F-0069]

Itrat Husain FCS [F-0009]

Member

Md. Azizur Rahman FCS [F-0063]

Member

Mohammad Ruhan Miah FCS [F-0165]

Member

Lorens Shamol Mollick FCS [F-0168]

Syed Amimul Ihsan ACS [A-0204]

Member

Jasmin Akter ACS [A-0235]

Member

Md. Mokammel Hoque ACS [A-0241]

Member

10. Darul Awam Tuhin ACS [A-0250]

2nd ICSB National Award for Corporate Governance Excellence | 2014

Chairman Co-Chairman

Member Secretary

Member

PRESIDENT

Govt. of the People's Republic of Bangladesh 26 Kartik 1422 10 November 2015

am happy to learn that the Institute of Chartered Secretaries of Bangladesh (ICSB) is going to hold its "2nd ICSB National Award for Corporate Governance Excellece-2014" on November 10, 2015. I congratulate the winners on their outstanding achievement on the eve of the occasion.

Message

Good governance plays an important role in establishing rule of law, discipline, accountability and transparency among the public and corporate bodies. I am happy to know that ICSB has been playing a pivotal role in disseminating corporate knowledge and administering the profession of Chartered Secretaries in Bangladesh. I believe that the theme of the award "Promoting Governing Excellence" will foster good governance culture through best practices in our country. I welcome the erudite participants from home and abroad and wish them a very pleasant stay in Dhaka. I wish the "2nd ICSB National Award for Corporate Governance Excellence, 2014" of ICSB a success. Khoda Hafez. May Bangladesh Live Forever.

Md. Abdul Hamid

2nd ICSB National Award for Corporate Governance Excellence | 2014

Prime Minister Government of the People's Republic of Bangladesh 26 Kartik 1422 10 November 2015

am happy to know that the Institute of Chartered Secretaries of Bangladesh (ICSB) is holding its “2nd ICSB National Award on Corporate Governance Excellence, 2014” on 10 November 2015 in Dhaka to recognize the best performing corporate houses for achieving excellence in governance.

Message

The Institute of Chartered Secretaries of Bangladesh (ICSB) has been playing an important role in developing and regulating the high- level professional skill of Chartered Secretaries in Bangladesh. I appreciate the ICSB for identifying and recognizing the best corporate houses of the country for the second time. This will, I hope, act as an encouragement for the corporate bodies to achieve further development. 4[MRK XS SYV GSRGIVXIH IǺSVXW 'ERKPEHIWL LEW already been elevated to the status of lower middle-income country and we are hoping to turn the country into a middle-income one by the year 2021. I would like to urge the Chartered Secretaries to work hard for the improvement in governance and thereby achieve the goal of building a poverty-, hunger- and illiteracy-free peaceful Bangladesh as dreamt by the Father of the Nation, Bangabandhu Sheikh Mujibur Rahman. I wish the event a total success. Joi Bangla, Joi Bangabandhu May Bangladesh Live Forever.

Sheikh Hasina

2nd ICSB National Award for Corporate Governance Excellence | 2014

Minister

Ministry of Finance Govt. of the People's Republic of Bangladesh 19 October,2014

am happy to learn that the Institute of Chartered Secretaries of Bangladesh is going to organize the "2nd ICSB National Award for Corporate Governance Excellence, 2014" on November 10, 2015 in Dhaka for the second time.

Message

During the transformation of the world economy from bipolar to unipolar in the last three decades, greed of the business people at the helm of the corporations that was hitherto contained became heartless. That has accentuated XLI TVSQYPKEXMSR SJ (, KYMHIPMRIW MR HMǺIVIRX GSYRXVMIW 8LI regulators and the governments world over came up with more and more stringent CG guidelines in order to compel the corporate houses to follow those in their true spirit. Regulations are there to ensure fair practices but the onus is on the practitioners to create an environment of compliance and thus ensure fairness. The great advantage of compliance is that it is good for FYWMRIWW ERH WEXMWǻIW EPP WXEOILSPHIVW .( ' MW EGXMRK EW E watchdog for compliance and thus rendering valuable service to corporate sector. I hope that the ICSB award will work as a catalyst for greater accountability and better governance in the corporate sector of Bangladesh. I congratulate ICSB for organizing the event and wish the programme a grand success.

Abul Maal A Muhith

2nd ICSB National Award for Corporate Governance Excellence | 2014

Minister

Ministry of Commerce Government of the People's Republic of Bangladesh

I Message

am happy to know that the Institute of Chartered Secretaries of Bangladesh (ICSB) is going to ICSB National Award on Corporate Governance Excellence-20I4" on November 10, 2015.

Bangladesh is advancing in the global corporate horizon at a great speed. I do believe that the ceremony would be of MQQIRWI FIRIǻX JSV XLI GSVTSVEXI WIGXSVW MR 'ERKPEHIWL The Corporate Governance Award will provide strategic as well as provocative inputs and add value to the corporate sectors in Bangladesh. . FIPMIZI XLEX .( ' MW TPE]MRK ER IǺIGXMZI ERH QIERMRKJYP role to develop promote and regulate the profession of Chartered Secretaries in Bangladesh. The profession has been contributing for the development of the economy of our great country by striving to ensure corporate governance practices. Corporate Governance Award is one of the mile stone acknowledgments for the corporate sector of Bangladesh. It helps the corporate bodies to achieve transparent and sound corporate governance practices, which will ultimately help them sustain in the globalized competitive free market economy. This award will certainly encourage others to join the row and go for excellence in their day to day performance and help achieve global standard and earnreputation for Bangladesh. I wish the occasion a great success. Joy Bangla, Joy Bangabandhu.

Tofail Ahmed MP

2nd ICSB National Award for Corporate Governance Excellence | 2014

Senior Secretary

Ministry of Finance Govt. of the People's Republic of Bangladesh

I Message

am happy to know that the Institute of Chartered Secretaries of Bangladesh (ICSB) is organizing its "2nd National Award for Corporate Governance Excellence, 2014" on November I0, 2015 in Dhaka.

I hope this award will encourage companies to improve quality of products and services as well as to enhance transparency and accountability in the corporate management. As the only recognized professional body, the Institute of Chartered Secretaries of Bangladesh (ICSB) is serving its due role to develop promote and regulate the profession of Chartered Secretaries in Bangladesh. I congratulate award winner companies and at the same XMQI SǺIV XLEROW XS .( ' JSV SVKERM^MRK XLI IZIRX I wish the success of ICSB.

Mahbub Ahmed

2nd ICSB National Award for Corporate Governance Excellence | 2014

Senior Secretary

Ministry of Commerce Government of the People's Republic of Bangladesh

Message

am pleased to know that the Institute of Chartered Secretaries of Bangladesh (ICSB) is going to organize the "2nd ICSB National Award for Corporate Governance Excellence, 2014 on November 10, 2015 in Dhaka. The purpose of the event is to recognize the best GSVTSVEXI FSHMIW SJ 'ERKPEHIWL MR XLI 퓨IPHW SJ 'EROMRK Non-Banking Financial Institutions Insurances, Pharmaceuticals & Chemicals, Textiles and RMG, Food and Allied, lT, Telecom & Services, Engineering, Manufacturing and Fuel & Power. ICSB is the apex professional body in the country to develop, promote and regulate the profession of Chartered Secretaries in Bangladesh which was established under the Chartered Secretaries Act, 2010. I would like to convey my best wishes to the winner companies and believe that all our corporate houses shall be reenergized for better performance. I wish the event a grand success.

Hedayetullah Al Mamoon

2nd ICSB National Award for Corporate Governance Excellence | 2014

CHAIRMAN

Bangladesh Securities and Exchange Commission

t is my pleasure to know that the Institute of Chartered Secretaries of Bangladesh (ICSB) is going to organize the "2nd ICSB National Award for Corporate Governance Excellence, 2014" to be held on November 10, 2015 for awarding the best listed corporate FSHMIW MR HMǺIVIRX WIGXSVW MR XLI GSYRXV] JSV XLIMV commendable governance and contribution towards the national economy.

Message

We may recall the ICSMB, the forerunner of the existing, was born in 1997, just a few months after the stock market debacle in 1996. The rise of the institute in such time is meaningful in the scene that a few professionals underscored the need of the nation to have a helping hand to the government and the regulators in formulating and implementing corporate governance guidelines. Thus from XLI FIKMRRMRK XLI VSPI SJ XLI .RWXMXYXI LEW FIIR WMKRMǻGERX MR making the corporate Bangladesh vibrant. To promote and facilitate good governance in the corporate sector ICSB has been taking various challenges ERH IǺIGXMZI QIEWYVIW 8LIWI QIEWYVIW MRGPYHI recognition and awarding companies for their enduring GSRXVMFYXMSR XS KSZIVRERGI . EQ GSRǻHIRX XLEX XLI RH ICSB National Award for Corporate Governance Excellence, 2014" will be one of the important, encouraging and motivating instruments for the entire corporate sector of Bangladesh and thus to help in transforming the country to further strengthen their institutional capacities and qualities in governance. I congratulate ICSB for taking such a timely initiative and wish them all success.

Prof. Dr. M. Khairul Hossain

2nd ICSB National Award for Corporate Governance Excellence | 2014

PRESIDENT Federation of Bangladesh Chambers of Commerce and Industry (FBCCI)

am delighted to know that the Institute of Chartered Secretaries of Bangladesh (ICSB) is going to organize the “2nd ICSB National Award for Corporate Governance Excellence, 2014” on November 10, 2015 to recognize best performers in Governance among the corporate bodies listed in the bourses in Bangladesh.

Message

Bangladesh is advancing on corporate horizon in every stride. This award is one of the testimonies of the Institute towards its emerging and paradigm shift role in the society. Since its inception ICSB has been playing a very important role in establishing good governance in the country. Corporate governance is very important in the global village and new horizons have been opened in many countries. “2nd ICSB National Award for Corporate Governance Excellence, 2014” will provide strategic as provocative inputs and value to the professional of the corporate sector in Bangladesh. The participants will go back to their respective chairs to practise corporate governance in their companies with new ideas. I trust that this programme of ICSB will work as a means of greater accountability and better governance in the corporate sector of Bangladesh. I am extremely happy that the “2nd ICSB National Award for Corporate Governance Excellence, 2014” is being held and I wish the event a grand success.

Abdul Matlub Ahmad

2nd ICSB National Award for Corporate Governance Excellence | 2014

PRESIDENT Institute of Chartered Secretaries of Bangladesh (ICSB)

t is really my privilege to welcome you all to this cheerful evening in “2nd ICSB National Award on Corporate Governance Excellence-2014”. I thank you for your kind presence and for your contributions, which has made this occasion a success. This auspicious and joyous occasion is the culmination of a long period of intensive activities of the Institute. I am sure that all concerned who have contributed their important time and IǺSVXW QYWX FI JIIPMRK UYMXI KVEXMǻIH XSHE]

Message

Being a National Institute ICSB is always regarded as a valued partner to the corporate development of the country. It is committed to provide quality professional services to the nation as a whole and to the corporate sector in particular. The very purpose of this award is to recognize the best performing companies in their VIWTIGXMZI ǻIPHW ERH XS WLEVI XLI HMKRMǻIH ERH ZEPYIH contributions of those enterprises to the nation. This Award MW E QSHIWX IǺSVX JVSQ XLI .RWXMXYXI XS IRGSYVEKI IǽGMIRX and responsible performance of the business for a better economy for our nation. On behalf of the Institute, I thank all of you for your kind presence today to make the programme a success. I would like to express my special thanks and gratitude to the Hon’ble Chief Guest and Special Guests for their gracious presence. They are very concerned guardians of the Institute and have always extended their support whenever we have approached to them. I look forward to your continued support. Thanking you all.

Mohammad Asad Ullah FCS

2nd ICSB National Award for Corporate Governance Excellence | 2014

PRESIDENT Institute of Chartered Secretaries of Bangladesh (ICSB)

Foreward

on’ble Chief Guest, Special Guests, Invited Dignitaries, Heads of Corporate Bodies, Professional Colleagues, Ladies and Gentlemen, A very good evening to you all It is indeed my proud privilege to welcome you all to this festive evening to present “2nd ICSB National Award for Corporate Governance Excellence, 2014”. You are aware that the Institute of Chartered Secretaries of Bangladesh (ICSB), a statutory body established under an Act of Parliament i.e. Chartered Secretaries Act 2010, (administrative ministry -

Ministry of Commerce, Govt. of Bangladesh), is the only recognized professional body in Bangladesh to develop, promote and regulate the profession of Chartered/Company Secretaries in Bangladesh. It confers a two and half year Professional Course in Chartered Secretaryship to create skilled professionals and plays a vital role for developing Corporate Governance in Bangladesh. “The Institute of Chartered Secretaries and Managers of Bangladesh” (ICSMB) was established in July 1997 as a national professional Institute under license from the Ministry of Commerce, Government of Bangladesh and constituted under

2nd ICSB National Award for Corporate Governance Excellence | 2014

Section 28 of the Companies Act, 1994. Since then Institute through its vibrant role in the Corporate Governance has earned respect of the professional community of the country and the region. Around 400 Members of the Institute are RS[ WIVZMRK MR HMZIVWMǻIH ǻIPHW SJ FYWMRIWW ERH economy at home and abroad. With their highly focused knowledge and skills, ICSB is now recognized as an important member of the corporate management team to drive smooth business growth and accelerate economic development. As a national institution ICSB is now regarded as a valued mate to the corporate Governance of the country. It is combated

to provide quality professional services to the nation as a whole and to the GSVTSVEXI WIGXSV MR WTIGMǻG

own governance standards set in the last year. I appreciate this humble initiative of the Institute.

The Institute is leading with key measures to promote and facilitate good governance in the corporate sector of the country. These key measures include Continuous Professional Development (CPD), Training, developing professional standards, and facilitating formulation of related regulations. For the last several years, the Institute has been working with noble principles for the recognition of listed companies in Bangladesh JSV XLIMV WMKRMǻGERX contribution to sustainable good governance.

The awardees of “ICSB National Awards for Corporate Governance Excellence” are selected through a rigorous comprehensive evaluation process undertaken by an eminent independent “Jury Board”. This year also high-level expert Technical Committees under the guidance of their independent Jury Board have selected thirty GSQTERMIW MR XIR HMǺIVIRX categories for the award today through and unbiased and meticulous evaluation process on the basis of both quantitative and qualitative criteria.

In the milieu of existing corporate governance regime, the Institute has introduced National Award for Corporate Governance Excellence in the last year JSV XLI ǻVWX XMQI MR Bangladesh. Imbibed by the last year’s success, this year too by holding its ceremony in 2015, ICSB is going to inspire the corporate houses to perform better and thus making the corporate environment more competitive for the corporations to excel their

I congratulate the Winning Companies for their achievement and expect them to continue their best services to the society and the nation. I must also thank other participating Companies who despite performing well could not secure a position this time. I hope they will be the future winners of this prestigious award.

Governance Award Committee and his team deserves special thanks for XLIMV SYXWXERHMRK IǺSVX ERH hard work in selecting the winning companies. I expect that this award will create a real bridge between the Chartered Secretary profession and the Corporate Houses. Finally, On behalf of the Institute I thank all of you for your kind presence today to make the program a success. I would like to express my special thanks and gratitude to the Honorable Chief Guest and Special Guests for their gracious presence. They are very caring guardians of the Institute and have always extended their support whenever we have approached to them. I look forward to your continued support for ICSB and wish to work together for our common agenda. Thank you all.

Mohammad FCS

Asad

Ullah

Mr. M Nurul Alam FCS, Chairman Corporate

2nd ICSB National Award for Corporate Governance Excellence | 2014

PRESIDENT Institute of Chartered Secretaries of Bangladesh (ICSB)

Bismilla-hir Rahmanir Rahim

H Address of Welcome

on’ble Chief Guest, Mr. Abul Maal Abdul Muhith, MP, Honorable Minister, Ministry of Finance, Govt. of the People`s Republic of Bangladesh

Respected Special Guests, Professor Dr. M. Khairul Hossain, Chairman, Bangladesh Securities and Exchange Commission; Mr. Hedayetullah Al Mamoon, Sr. Secretary, Ministry of Commerce, Govt. of Bangladesh; and Distinguished guests, Corporate Leaders, Awardees, Members of the Media, and my colleague Members of ICSB - Ladies and Gentlemen, Assalamu Alaikum and good evening. On behalf of the Council and Members of the Institute of Chartered Secretaries of Bangladesh, I feel extremely privileged to have the honor in extending warm welcome to each and every one of you to this ICSB National Award for Corporate Governance Excellence 2014. Dear Participants, At the outset, I express my heartfelt thanks and gratitude to Almighty Allah for His kind blessings and greatness that Chartered Secretaries Act 2010 was passed by the Jatio Sangshad of Bangladesh by the Awami League Government in its last term on 7 /YRI [LMGL GVIEXIH E QMPIWXSRI MR XLI TVSJIWWMSREP ǻIPH SJ Bangladesh and whereby we got the Institute of Chartered Secretaries of Bangladesh as a statutory body under an Act of Parliament. In this occasion, I, on my own behalf and on behalf of the Institute express my gratitude and heartfelt thanks and recall the contributions made by Hon’ble Prime Minister, Jano-Netry, Sheikh Hasina, all the Members of her Cabinet, Members of 5EVPMEQIRX JSV XLIMV WXVSRK MRMXMEXMZIW ERH IǺSVXW XS[EVHW XLI profession, without which it would have not been possible to bring this Institute in the present shape. I am extremely grateful to his Excellency Hon’ble Finance Minister Mr. Abul Maal Abdul Muhith, MP for his wholehearted support and GS STIVEXMSR MR LSPHMRK XLI ǻVWX .( ' 3EXMSREP &[EVH JSV (SVTSVEXI Governance Excellence 2013 held on 4 December, 2014 at BICC where he was the Chief Guest and handed over the awards among the Winners. Similarly, this year also he has extended his kind co-operation and support for holding this 2nd ICSB National Award for Corporate Governance Excellence 2014.

2nd ICSB National Award for Corporate Governance Excellence | 2014

Honâ&#x20AC;&#x2122;ble Chief Guest Sir, You have been serving the country as its Finance Minister for the longest period of time as senior most veteran scholar. You took the responsibility as Finance Minister of the country in 2009 at the critical juncture of the nation when the world IGSRSQ] LEH FIIR WYÇşIVMRK JVSQ E WIVMSYW GVMWMW Under your strong and dynamic leadership the economic scenario of Bangladesh has been changed tremendously. You have placed National budget for the 9th times in this June which ETTVIGMEXIH F] EPP .R GYVVIRX ÇťRERGMEP ]IEV ]SYV Government projected GDP growth at 7% but the ;SVPH 'ERO MR XLIMV VITSVX TYFPMWLIH MR XLI ÇťVWX week of October 2015 predicts 6.5% while ADB predicted 6.7% they termed a stronger economy in Bangladesh relatively FY 2014 despite political XYVQSMP MR XLI ÇťVWX UYEVXIV SJ 8LI MRÇźEXMSR GEQI HS[R EVSYRH MR XLI ÇťVWX UYEVXIV SJ XLMW += All the indicators of the economy have been improved remarkably viz. per capita income, foreign reserve, remittance, FDI and tax earnings etc. Export earnings increased remarkably despite SJ WIVMSYW TSPMXMGEP XYVQSMP MR ÇťVWX UYEVXIV SJ Foreign exchange reserve has climbed to more than 27 billion. You have placed national Budget for Taka three lac crore which is the highest ever in the history of Bangladesh and we hope that it would be implemented. There is a good news that 'ERKPEHIWL MW HIZIPSTMRK ÇťVWX EW TIV VITSVX SJ (MXM Group and J P Morgan and Pricewater House Coopers. On 20th October 2015 NEC approved the 7th Fifth Year Development Plan for the period 2015-16 to FY 2019-20 with creating an opportunity of additional 2.9 million new jobs and national growth at 8% in the XIVQMREP ]IEV SJ XLI XL ÇťZI ]IEV HIZIPSTQIRX plan. Being a vattern, prudent and visionary Finance Minister, upon your outstanding performance, the country will be attained to a middle income country within 2021 after implementation of the 7th 5th year development plan. Your name and fame has been spread all over the world as a successful Finance Minister of Sk. Hasinaâ&#x20AC;&#x2122;s Government. The World Bank, IMF and ADB and other development agencies of the world appreciated the development and remarkable growth of Bangladesh and most of the countries of the world following Bangladesh as their role model. We, being the professional Members of ICSB, salute you Sir, with pride, honor and with the highest respect.

We are also very glad to have with us the Chairman of Bangladesh Securities and Exchange Commission Prof. Dr. M Khairul Hossain, who played an important role for the development of the Capital Market of the country as its successful Chairman since its inception. Sir, you will be remembered in the history of the corporate Bangladesh as a great reformer of securities laws implementing demutualization of stock exchanges of the country. You have changed the rules and regulations of the Securities market radically, as a VIWYPX XLI GSRÇťHIRGI SJ MRZIWXSVW LEW FIIR restored and we got a stable share market in the country. We welcome you Sir, and express our heartfelt thanks and gratitude for your visionary role played to reform the stock market with the active support and guidance of Honble Finance Minister AMA Muhith and Prime Minister Sheikh Hasina. We are extremely glad to have with us our Senior Secretary, Ministry of Commerce his Excellency Hadeyetullah Al Mamoon. We express our heartfelt thanks and gratitude to you sir for attending our program. We got all out support and co-operations from you whenever and whenever we required. It QE] FI QIRXMSRIH XLEX GSRWMHIVMRK SYV ÇťRERGMEP hardship, you have increased our Govt. Budget allocation to a great extent. Being the Commerce Secretary you are our administrative Chief and under your active support and guidance the Institute has been running very precisely. Since your joining as Commerce Secretary a remarkable change has been made in the business & commerce of the country. You are also the administrative chief of the business and corporate sector of the country. Your sincerity, honesty and brilliantness fascinate the business community. We are extremely grateful to you sir for your kind presence. ;I EPWS [IPGSQI EPP XLI -MKL 4Ç˝GMEPW SJ XLI ,SZX regulatory bodies and corporate leaders, businessmen, guests, delegates, awardees who are with us today to grace the occasion. Honâ&#x20AC;&#x2122;ble Guests, You are aware that ICSB introduced National Award for Corporate Governance Excellence 2013 among the listed companies of Bangladesh in 2014 and handed over the awards to the winners on 4 December 2014 at BICC and this year we are also going to hand over the National Award for Corporate Governance Excellence 2014 amongst the winners after sometimes from now by our

2nd ICSB National Award for Corporate Governance Excellence | 2014

Hon’ble Chief Guest, his Excellency - Mr. AMA Muhith.

Exchanges and working side by side with other regulators like other countries of the world.

The corporate governance got importance after the scam of Enron Corporation and WorldCom of America in 2001 due to accounting scandal. After their fall, the economy of America and entire Europe seriouWP] LMX [LMGL EǺIGXIH EPP SZIV XLI economy of the world and all most all the stock markets of the world, specially the stock exchange of New York, London, Mumbai, Hong Kong, Singapore and Tokyo. After that, the private sector of Europe and America laid importance to revive their economy and took hundreds of measures to ensure corporate governance amongst their listed companies.

The Institute of Chartered Secretaries of Bangladesh(ICSB) was established under Chartered Secretaries Act 2010 which is the only recognized professional body in Bangladesh to develop, promote and regulate the profession of Chartered/Company Secretaries and also to ensure corporate governance and compliance of statutory rules and regulations in the corporate sector for economic development of Bangladesh.

As part of reform as well as to restore the GSRǻHIRGI SJ MRZIWXSVW XLI (SVTSVEXI ,SZIVRERGI Award has been introduced in the USA, England and in almost all the developed countries of the world, to create awareness and competitiveness amongst the listed companies of the respective countries even in India one decade back introduced such awards. In the meantime, they have been able to make awareness among the corporate sector by establishing accountability, transparency, good governance and ethical standard in their accounts and reports to their WLEVILSPHIVW &W E VIWYPX GSRǻHIRGI [EW FYMPX YT among the investors and shareholders do now feel comfort in those countries in their published annual reports and accounts.

Although, the Chartered Secretaries Act was enacted in 2010, but the Institute was established in 1997 under the license from Ministry of Commerce as Institute of Chartered Secretaries and Managers of Bangladesh. Subsequently it was converted into a statutory body under the Act of Parliament on 16 June 2010.

BSEC and stock exchanges have imposed their rules and regulations to the issuer Companies to implement the same in the companies. It is the professional Company Secretary, who is (SQTPMERGI 4ǽGIV ERH KPSFEPP] ORS[R EW (LMIJ ,SZIVRERGI 4ǽGIV XS TIVJSVQ VYPIW ERH regulations of regulators like Securities and Exchange Commission, Stock Exchanges, Central Bank, Registrar of Companies etc. In fact the Company Secretary is working as adviser to the 'SEVH ERH EW (LMIJ ,SZIVRERGI 4ǽGIV ERH EGXW EW a bridge between the shareholders and the Management of a company. Globally, Chartered Secretaries Institute is called the Institute of Governance. ICSB is nurturing the profession of (LEVXIVIH WIGVIXEV] MR XLI ǻIPH SJ GSVTSVEXI management, specially emphasizing on the governance and compliance issues. Our Institute has become one of the facilitators of BSEC & Stock

8LI EǺEMVW SJ XLI .RWXMXYXI EVI QEREKIH F] E Council consisting of thirteen elected members ERH ǻZI RSQMRIIW JVSQ XLI ,SZIVRQIRX

You will be pleased to know that the Institute is one of the Member of the Corporate Secretaries International Association(CSIA) based in Geneva, Switzerland that has been working for the development of good corporate governance through development of company secretary profession in the member countries. The Institute has been taking various measures to promote and facilitate good governance in the corporate sector. These measures include recognition and awarding companies for their enduring contribution to governance. It has been bestowing National Awards for excellence in corporate governance. The awardees for ICSB national Awards for Excellence in Corporate Governance are selected through a very rigorous comprehensive evaluation process undertaken by an eminent 5 members Jury Board headed by Dr. A B Mirza Md. Azizul Islam, former Finance Advisor to the Caretaker Government. The ICSB National Award for Corporate Governance Excellence is being conferred annually to public listed companies in order to encourage the corporate houses for strict adhering to the Corporate Governance norms in reality with a view to:

2nd ICSB National Award for Corporate Governance Excellence | 2014

7IGSKRM^MRK PIEHIVWLMT IǺSVXW SJ GSVTSVEXI board in practicing the Corporate Governance Principles in their functioning. - Motivating the corporate in focusing CG practices in their functioning. - Implementing Corporate Governance norms in true letter and spirit. Honorable Guests The Institute is leading with key measures to promote and facilitate good governance in the corporate sector of the country. These key measures include Continuous Professional Development (CPD), training, developing professional standards, and facilitating formulation of related regulations. For the last several years, the Institute has been working with noble principles for the recognition of listed companies in Bangladesh JSV XLIMV WMKRMǻGERX GSRXVMFYXMSR XS WYWXEMREFPI KSSH governance. We have been trying for last few years to introduce this Corporate Governance Award in our country after crash of stock market in 2010-11. Due to inadequate resources, it was not possible for us to introduce this Award before 2014. After having consent from our Honourable Finance Minister in early 2014, we started to work on it and after a lot of IǺSVXW QEHI F] SYV HIHMGEXIH 2IQFIVW [I materialized our dream in the last year. We got much appreciation from every corner of corporate WIGXSV SJ XLI GSYRXV] JSV LSPHMRK XLI ǻVWX E[EVH program successfully. Meanwhile, tremendous awareness was created in the corporate sector of the country about the ICSB profession. Job opportunity has been expanded of our professionals and huge demand has been created SJ SYV QIQFIVW MR XLI NSF ǻIPH SJ 'ERKPEHIWL The participant Companies have been grouped into HMǺIVIRX GEXIKSVMIW [LMPI XEOMRK EHIUYEXI GEVI XS EZSMH ER] GSRǼMGX SJ MRXIVIWX MR EWWMKRMRK XLI evaluation tasks among the 10 Technical Committees. There are 3 (three) awards in each GEXIKSV] SJ (SQTERMIW VEROMRK MRXS ǻVWX WIGSRH and third in order to merit. But in two categories two awards have been recommended by the Jury Board and thus total awards are 28 in ten categories. Award initiated by ICSB is a commendable step forward and will remain as a milestone in the records of the corporate governance history of Bangladesh.

Purpose of the Award is To encourage and promote excellence in the corporate Bangladesh;

governing sector of

To motivate organizations and its leader(s) to make further improvements in governance excellence; and To facilitate corporate houses to be competitive in the global arena and earn a sharp edge over others. Any public company listed with the Stock Exchanges of Bangladesh who has published its annual report for the year ended December 31, 2014 they are eligible to participate with our program. It is to be mentioned that, good corporate Governance means that the Company and its Board of Directors is committed to continuously strive for the highest standards to ensure that the business ERH MXW EǺEMVW EVI MR WXVMGX EHLIVIRGI XS XLI HSGXVMRI and principles of proper governance such as integrity, transparency, accountability and responsible business conduct to safeguard the interests of its shareholders and stakeholders. Hon’ble Chief Guest, For materializing our dream we urgently need the following and I draw the kind attention of our Hon’ble Chief Guest Sir: 1) The Companies Act 1994 requires to be updated in line with the Chartered Secretaries Act-2010. A high powered committee was formed under the chairmanship of Commerce Secretary while Mr. Faruk Khan, MP was the Commerce Minister and XLI HVEJX SJ (SQTERMIW 'MPP MW RS[ ǻREP shape which is lying pending with the Ministry of Commerce for long time. 2) Companies Act 1994 was promulgated in line with Indian Companies Act 1956, after that hundreds of amendments were made by India. They repealed their old companies Act and enacted new Companies Act 2013 catering to the present needs of business and commerce of the world. It is unfortunate that not a single amendment has been made in our Companies Act of 1994 after its promulgation. So, our Companies Act has become obsolete in the context of the present need. Now, I urge upon

2nd ICSB National Award for Corporate Governance Excellence | 2014

the Hon’ble Chief Guest and Special Guests to take necessary steps to place the same in the Parliament in order to ensure discipline the corporate sector of the country. 3) Corporate Sector of the country has been contributing about 73% to the total economy. But this sector is being neglected in many ways. About 1,40,000 companies are registered with the Registrar of Joint Stock Companies of Bangladesh. To run this corporate sector, we propose to set up a separate Ministry as Ministry SJ (SVTSVEXI &ǺEMVW PMOI .RHME XS TVSZMHI WIVZMGIW precisely to the listed and non listed companies of Bangladesh, so that the economy will boosts up and revenue will be increased remarkably. 4) The Financial Reporting Act 2015 has been passed by the Parliament on 6 September 2015 and gazette on 9 September 2015. Unfortunately our Institute has not included in that Act. We would request you honour to appoint an independent Chairman and Commission who can run the Commission very precisely and corruption free; otherwise it would not be materialized to achieve the objectives of the Act. Hon’ble Chief Guest, It is my humble and earnest request to your honour, Sir, for the greater interest of the profession as well for the nation I, on behalf of the Institute appeal to you to kindly take necessary measures to implement our above demands for the economic development of the nation. Dear participants, Company Secretary in an independent profession. Although this profession is very young in our country but the Chartered Secretaries Profession was established in Great Britain by a Royal Charter of England in 1891, it was about 124 years back. Subsequently, this profession was established by its own legal footings in all most of the developed countries of the world. The Institute is nurturing the profession of Company Secretary and producing the Chartered IGVIXEVMIW F] SǺIVMRK X[S ERH E LEPJ ]IEV post-graduate professional course on Corporate

Management. The curriculum is maintained in line with the present day needs of the corporate world, mainly we follow the syllabus of UK, India, and other developed countries of the world. The Institute has over 350 Members. The number of GYVVIRX WXYHIRXW MW EFSYX MR HMǺIVIRX PIZIPW &JXIV TEWWMRK XLI ǻREP I\EQMREXMSR JSV UYEPMJ]MRK EW Chartered Secretary every student must have to do internship for 3 months in a listed Company, upon satisfactorily completing the internship he/she is UYEPMǻIH EW (LEVXIVIH IGVIXEV] ERH EJXIV LEZMRK years practical job experience in the respective ǻIPH E UYEPMǻIH ( FIGSQI IPMKMFPI XS KIX XLI Associate Membership and having 5 years job experience an associate member become Fellow Member of the Institute. You will be happy to know that the institute has conducted more than 300 professional training courses over the last 18 years for the Corporate Executives where it trained up about 15,000 senior and mid level corporate executives of the country. Honorable Guests I hope that all the Corporate Leaders/delegates/ awardees/participants present here in this colorful evening will enjoy the program very pleasant mood. Before I conclude, I would like to express my sincere thanks and gratitude to the honorable Chief Guest, Special Guests. Sir, in spite of your busy schedule you have attended our program and encouraged us to work for ensuring Corporate Governance by this CS Profession as well as economic development of the nation. I express my heartfelt thanks to the participants, guests, members of Media and over all the participants of 28 Awardees Companies of this Corporate Governance Award Program for their kind presence. I wish you all the best. Thank you all. Allah hafez

Mohammad Asad Ullah FCS

2nd ICSB National Award for Corporate Governance Excellence | 2014

CHAIRMAN Corporate Governance Award Committee

t the very outset I would like to thank almighty Allah for guiding us to WYGGIWWJYPP] QEREKI XLMW QSWX HMÇ˝GYPX XEWO SJ IZEPYEXMSR 5VSGIWW and determine the best of the best companies who are committed to comply with the Corporate Governance in running their business

operation. National Award for Corporate Governance Excellence is an annual event. ICSB will be continuing to holding this event every year.

Foreword

Objectives Ć˝ 5VSQSting Governing Excellence in the corporate sectorof the country; Ć˝ 7IGSKRM^I GSVTSVEXI PIEHIVWLMT UYEPMX] JSV XLI ]IEV YRHIV VIZMI[ Ć˝ 2SXMZEXI SVKERM^EXMSRW ERH MXW PIEHIVW JSV TYXXMRK VIPIRXPIWW IÇşSVXW MR governing excellence; Ć˝ .QTPIQIRX (SVTSVEXI ,SZIVRERGI RSVQW MR XVYI PIXXIV ERH WTMVMX Ć˝ -IPT GSVTSVEXI LSYWIW XS FI GSQTIXMXMZI MR XLI KPSFEP EVIRE ERH IEVR E sharp edge over others. Basis of awarding Ć˝ 8LI IZEPYEXMSR TVSGIWW JSV E[EVH FEWIH SR XLI ERRYEP VITSVXW VIGIMZIH from the public companies listed in the stock exchanges. Ć˝ 8LI E[EVH [MRRIVW EVI WIPIGXIH XLVSYKL E GSQTVILIRWMZI IZEPYEXMSR process by an eminent Jury Board with the assistance of Technical Committees. Ć˝ 8LI /YV] 'SEVH JSV .( ' 3EXMSREP &[EVH JSV (, *\GIPPIRGI GSQTVMWIW SJ personalities enjoying unparallel eQMRIRGI ERH VITYXEXMSR MR XLIMV ÇťIPHW Category Based on the Dhaka Stock Exchangeâ&#x20AC;&#x2122;s listing categories companies were categorized in ten viz; 1. Banking companies 2. Non-Banking Financial Institutions 3. Insurance Companies 4. Pharmaceutical & Chemicals Companies 5. Textiles and RMG Companies 6. Food and Allied Companies 7. IT, Telecom & Services Companies 8. Engineering Companies 9. Manufacturing Companies 10. Fuel & Power Companies Awarding process Ć˝ 8LVII GSQTERMIW MR IEGL GEXIKSV]SJ IMKLX E[EVHIH JSV GSRXMRYSYW commitment in compliance of Corporate Governance Excellence. Whiletwo awards in each category of other two categories. Total twenty eight Companies won the ICSB National Award for Corporate Governance Excellence 2014. Ć˝ 8LI (SQTERMIW [LS SFXEMRIH LMKLIWX WGSVI MR IZEPYEXMSR TVSGIWW SR XLI basis of preset questionnaires approved by the Jury Board won award; Ć˝ 8IGLRMGEP (SQQMXXIIW 8( IZEPYEXIH XLI ERRYEP VITSVXW ERH WGSVI SR XLI basis of the preset questionnaires; Ć˝ 8LI /YV] 'SEVH VIZMI[IH XLI VITSVXW ERH WGSVI GEVHW WYFQMXXIH F] 8(W Ć˝ +MREPP] XLI E[EVHIIW MR IEGL GEXIKSV] [IVI ETTVSZIH F] XLI /YV] 'SEVH SR the basis of highest score obtained; Finally thanks to Almighty Allah once again. My profound gratitude goes to the ICSBCouncil, Jury Board, Organizing Committee, Corporate Governance Award Committee and all respected Members of ICSB for extending full support in successfully concluding this great job. Thanks to all. Kind Regards,

M Nurul Alam FCS

2nd ICSB National Award for Corporate Governance Excellence | 2014

EDITORIAL Corporate Governance Excellence Award –A Stimulous for Achievement

nstitute of Chartered Secretaries of Bangladesh(ICSB) is hosting the second Corporate Governance Excellence Award 2014 after XVIQIRHSYW WYGGIWW SJ MXW IZIV ǻVWX (SVTSVEXI ,SZIVRERGI Award 2013; a colorful event the institute organizes for the corporate world in Bangladesh. The institute has always been striving it’s best to help corporates achieve highest standards in their activities vis-à-vis corporate governance practices.

Editorial

It is commendable that in a very short span of time the institute has achieved international recognition and stands as an icon in the ERREPW SJ KSZIVRERGI LMWXSV] MR XLMW VIKMSR 4RI SJ XLI WMKRMǻGERX indications of the importance of this award among the corporates is their enthusiasm and voluntary participation in this even. It seems to have become an annual corporate festival for them as well as the institute and its members around. The response from the corporates LEW WMKRMǻGERXP] MRGVIEWIH JVSQ XLI IZIV ǻWX PEWX ]IEV IZIRX XS XLMW year and hope to increase the number of participants in future too, though the country does not have enough corporate houses compared to its population and neighbors. Nevertheless the ratio of participation by corporates in this Corporate Governance Excellence Award is better than many neighboring countries. 'ERKPEHIWL LEW EGLMIZIH WMKRMǻGERX TSWMXMSR MR XLI KPSFEP development literature including MDG, environment, ITC sector etc. Since our aim is high; of course many more to achieve. It is a lower mid-income country now, and is believed to reach mid-income country by 2021 and a developed country by 2041. In the MDG it has become one of the best achievers to be followed by many other HIZIPSTMRK GSYRXVMIW -EH XLIVI FIIR RS WMKRMǻGERX GSRXVMFYXMSR SJ the corporate sector, it would not be all that easy to travel the uneven economic journey from a war ravaged economy to a mid-income dreamer by 2021, just in next six years time. The country which started with a zero in 1971 dramatically in a span of four decades time it has surpassed many countries in HDI, bringing down population growth rate, health, education, women empowerment, forex reserve of 27 billion dollar and many more. To help Bangladesh achieve its objectives by the stipulated time, this Corporate Governance Excellence Award will certainly work as an important catalyst.

Prof Dr Feroz I. Faruque FCS

2nd ICSB National Award for Corporate Governance Excellence | 2014

THE GALAXY OF THE PAST PRESIDENTS Muzaffar Ahmed FCS

A. K. A. Muqtadir FCS

2Y^EÇşEV &LQIH +( MW E known personality in the corporate arena of Bangladesh for his pioneering role in the ÇťIPH SJ FEROMRK ÇťRERGI accounting and credit rating. -I LEW WMKRMÇťGERX GSRXVMFYXMSR in developing many institutions in the country- such as credit rating institutions, Institute of Chartered Secretaries and Managers of Bangladesh .( 2' (IVXMÇťIH +MRERGMEP &REP]WXW .RWXMXYXMSR -I has also given new height to the profession of Cost and Management Accounting in the country. Mr. Ahmed is the Founder President of the Institute of Chartered Secretaries and Managers of Bangladesh now renamed as the Institute of Chartered Secretaries of Bangladesh (ICSB). He has pioneered the Institute from 1997 and upto 2004 as the President and Council Member.

The dawn of the Institute of Chartered Secretaries of Bangladesh was heralded in 1997 by a group of cutting-edge professionals, one of whom was Mr. A. K. A. Muqtadir. He was the founding Vice President of the Institute. Subsequently he persisted as Senior Vice President for many ]IEVW ERH ÇťREPP] XLI 5VIWMHIRX SJ XLI .RWXMXYXI during 2004-05.

Mr. Ahmed also served The Institute of Cost Management Accountants of Bangladesh (ICMAB) for last 30 years as Director, Council Member, Treasurer, Secretary and Vice President, and lastly he was elected as the President of that Institute for the year 1999. He represented ICMAB in many national and international seminars and conferences and still in the council playing a vital role to shape the profession. Mr Ahmed has been elected as the Chairman of the TASK Force formed by the South Asian Federation of Accountants (SAFA) to undertake a research on the Impact of Basel-II implementation in SAFA Countries. Starting his career as lecturer in the Department of Accounting in Chittagong University in 1974, Mr. Ahmed served many national and international organizations in senior positions in his professional career. Mr. Ahmed is the Founder of the Credit Rating Information and Services Limited (CRISL) and presently serving as its President and Chief *\IGYXMZI 4Ç˝GIV -I MW EPWS XLI 2IQFIV SJ XLI 'SEVH of the Association of Credit Rating Agenciesin Asia (ACRAA) head-quartered in Manila sponsored by the Asian Development Bank. Mr. Ahmed is also the Chairman of the Training Committee of ACRAA.

The elite Journal of the Institute The Chartered Secretary groomed and bloomed at the initial stage with him as its Editor for six long years. He has a chequered career of over 35 years in corporate management, mostly in a Multinational Company. Muqtadir graduated from the University of Dhaka back in the year 1969. YFWIUYIRXP] LI UYEPMÇťIH MR XLI YTIVMSV Services Examination, but opted to join the corporate services. As a maverick writer, Muqtadir has authored three vintage books, two of which have emerged as management classics for the profession of Company Secretaryship. He has presented technical management papers at various forums home and abroad. After retirement from active service, he now performs as corporate consultant and as a Practicing Chartered Secretary. He may be reached at: 01730 340 340 or at 721 6454 (res) or digitally at his e-address at: muqtadir@muqtadirbd.com

The Financial Mirror rewarded Mr. Ahmed for his outstanding contribution towards Institutional Development in the Financial Sector of the country twice â&#x20AC;&#x201C;once in 2004 and again in 2010. Mr. Ahmed has many publications to his credit and has attended many Conferences and Seminars both at home and abroad and presented a number of technical papers as Resource Person.

2nd ICSB National Award for Corporate Governance Excellence | 2014

Mohammad Sanaullah FCS

Itrat Husain FCMA FCS

Mohammad Sanaullah was the ÇťVWX 5VIWMHIRX SJ XLI .RWXMXYXI SJ Chartered Secretaries of Bangladesh (ICSB) for the term 2010-2013. He is also one of the Fellow and Founder Members of the lnstitute of Chartered Secretaries of Bangladesh, Past President of the International Federation of Company Secretaries (IFCS) and Past President of the Institute of Chartered Secretaries and Managers of Bangladesh (ICSMB) established in 1997.

Itrat Husain has over 41 years of experience in Corporate Management, both in the public and private reputed companies in senior TSWMXMSRW MR ÇťRERGI ERH company secretarial functions, in Manufacturing, Trading and Service sectors in Asia, Europe and Africa including over 11 yearsâ&#x20AC;&#x2122; experience in two Multinational Companies. He served as a Company Secretary in 3 companies.

Sanaullah is a Director and Company Secretary of Singer Bangladesh Limited (Joined the Board of Singer Bangladesh Limited on October 21, 2010) with over 28 yearsâ&#x20AC;&#x2122; of rich and varied exposure in business, corporate management and Governance in this reputed Multinational Company.

In Bangladesh he has worked in senior positions for large business houses like SINGER, BEXIMCO, TRANSCOM and EVINCE GROUP. He has also provided consultancy services to several organisations. Presently he is also serving as an Independent Director on the Board of Bengal Poly and Paper Sack Limited (Bengal Group).

He is a former Director (2010-2013), Bangladesh Institute of Capital Market (BICM); a former Vice President, Intellectual Property Association of 'ERKPEHIWL .5&' E GIVXMÇťIH 8VEMRIV SR (SVTSVEXI Governance â&#x20AC;&#x201C; Board Leadership of the â&#x20AC;&#x2DC;Global Corporate Governance Forum (GCGF)â&#x20AC;&#x2122; of International Finance Corporation (IFC); Resource person on Corporate Governance issues at Dhaka Stock Exchange Training Academy. EREYPPEL MW E 2IQFIV SJ XLI 8VEHI 8EVMÇş 8E\EXMSR (SQTER] &ÇşEMVW (SQQMXXII +SVIMKR .RZIWXSVW Chamber of Commerce and Industry (FlCCl). -I LEW HIZIPSTIH ERH GSRXVMFYXIH WMKRMÇťGERXP] XS various professional development programs and workshops organized by the Institute and various forums, both at home and abroad. His contribution towards the development of the profession of Chartered Secretaries in Bangladesh is remarkable.

He is the Chief Executive of Itrat Husain & Associates, E ÇťVQ SJ Ć¸(LEVXIVIH IGVIXEVMEP IVZMGIWĆš LI established in 2013 providing Secretarial Services, (SVTSVEXI ,SZIVRERGI (SQTPMERGI (IVXMÇťGEXMSR Training and other related Corporate Services. Itrat Husain is one of the Founder Members of the Institute of Chartered Secretaries of Bangladesh (ICSB), which was originally established in 1997 and is a Fellow Member of the Institute. He is a Past President of ICSB (2007-2008) and is a Council Member since 1997. He did his Chartered Management Accountancy (CIMA) course from UK in 1981 and is also a Fellow Member of the Institute of Cost and Management Accountants of Bangladesh (ICMAB).

He did his Graduation with Hon's in Accounting and Master in Accounting from University of Dhaka in 1980 and 1981 respectively. Subsequently he also did MBA in Marketing and Post Graduate Diploma in Personnel Management.

He has attended many training programmes and workshops both at home and abroad. He is a faculty member of ICSB and also organizes and conducts XVEMRMRK TVSKVEQQIW VIKYPEVP] -I MW E GIVXMÇťIH trainer of International Finance Corporation.

Sanaullaih is also a Fellow of the Institute of Personnel Management, Bangladesh and Member of the Institute of Internal Auditors USA, Life Member, Accounting Alumni University of Dhaka, a former Council Member (2005-2007) Bangladesh Society for Human Resources Management (BSHRM).

Itrat Husain is a widely travelled person who has visited more than thirty three countries. He is a Rotarian and is also associated with various philanthropic and cultural activities in the country.

2nd ICSB National Award for Corporate Governance Excellence | 2014

Mohammad Asad Ullah FCS Mohammad Asad Ullah, has been serving as Executive )MVIGXSV (SVTSVEXI &ǺEMVW ERH Group Company Secretary of all the Companies of Beximco Group since 1998. Since his joining in 1991 in the Corporate Headquarters of Beximco Group, Asad Ullah had worked as Deputy Group Company Secretary. Before joining in Corporate Headquarters, he worked in Beximco Pharmaceuticals Ltd. in various responsible positions since 3 July 1985.

development of Chartered Secretaries Profession in Bangladesh he was only one Member of the Institute who awarded a Gold Medal by the Institute in 2010. Prior to his election as President of the Institute in 2006 he performed the responsibilities as Treasurer, Vice-President and Senior Vice-President of the Institute.

He did his Graduation and professional degree in Law (LL.B.) from the Dhaka University. He obtained LL.M. and also MBA major in Human Resource Management. He is the Fellow Member of Institute of Chartered Secretaries of Bangladesh (ICSB).

Being the President of ICSB he has been nominated as Member of the Board of Directors of Bangladesh Institute of Capital Market (BICM) established under the direct supervision and control of Bangladesh Securities and Exchange Commission (BSEC) for the term 2013-2016. Prior to that he also performed the responsibility as the Member of the Board of BICM for the terms 2008-2009 and 2009-2010 and played a pioneering role for its establishment. He is also an active Member of a number of professional organizations of the country.

As President of the Institute for 3 Terms: 2006-2007, 2008-2009 and 2009-2010 he had performed the responsibilities with the best satisfaction and successfully represent the Institute in national and international level. Under his dynamic leadership, VIPIRXPIWW IǺSVXW ERH GSRWXERX TIVWYEWMSR [MXL XLI highest level of Government for long 11 years the Ƹ(LEVXIVIH IGVIXEVMIW &GX ƹ [EW ǻREPP] TEWWIH in the Jatio Sangshad of Bangladesh on 7th June 2010 and created a milestone in the history of Chartered Secretaries Profession in Bangladesh, which brought the Institute as Statutory Body under an Act of Parliament. For such outstanding performance and contributions towards the

In 2013, Members of the Institute elected him as Council Member with highest votes. Subsequently the Council of the Institute in its meeting unanimously elected him as its President for the term 2013-2016, for the 4th time.

During the long tenure of service with BEXIMCO, he participated in various professional seminars, workshops and training courses in Bangladesh as well as in the UK, USA, Pakistan, India, Singapore, Hong Kong, Malaysia, Japan and Australia. He carries vast experience in the areas of Professional Management and Corporate Legal &ǺEMVW

2nd ICSB National Award for Corporate Governance Excellence | 2014

THE GALAXY OF THE PAST PRESIDENTS Muzaffar Ahmed FCS

A. K. A. Muqtadir FCS

2Y^EÇşEV &LQIH +( MW E known personality in the corporate arena of Bangladesh for his pioneering role in the ÇťIPH SJ FEROMRK ÇťRERGI accounting and credit rating. -I LEW WMKRMÇťGERX GSRXVMFYXMSR in developing many institutions in the country- such as credit rating institutions, Institute of Chartered Secretaries and Managers of Bangladesh .( 2' (IVXMÇťIH +MRERGMEP &REP]WXW .RWXMXYXMSR -I has also given new height to the profession of Cost and Management Accounting in the country. Mr. &LQIH MW XLI +SYRHIV 5VIWMHIRX SJ XLI .RWXMXYXI SJ Chartered Secretaries and Managers of Bangladesh now renamed as the Institute of Chartered Secretaries of Bangladesh (ICSB) .He has pioneered the Institute from 1997 and upto 2004 as the President and Council Member.

Mr. Ahmed also served The Institute of Cost Management Accountants of Bangladesh (ICMAB) for last 30 years as Director, Council Member, Treasurer, Secretary and Vice President, and lastly he was elected as the President of that Institute for the year 1999. He represented ICMAB in many national and international seminars and conferences and still in the council playing a vital role to shape the profession.Mr Ahmed has been elected as the (LEMVQER SJ XLI 8& 0 +SVGI JSVQIH F] XLI SYXL &WMER +IHIVEXMSR SJ &GGSYRXERXW &+& XS YRHIVXEOI a research on the Impact of Basel-II implementation MR &+& (SYRXVMIW Starting his career as lecturer in the Department of Accounting in Chittagong University in 1974, Mr. Ahmed served many national and international organizations in senior positions in his professional GEVIIV 2V &LQIH MW XLI +SYRHIV SJ XLI (VIHMX 7EXMRK .RJSVQEXMSR ERH IVZMGIW 1MQMXIH (7. 1 ERH presently serving as its President and Chief *\IGYXMZI 4Ç˝GIV -I MW EPWS XLI 2IQFIV SJ XLI 'SEVH SJ XLI &WWSGMEXMSR SJ (VIHMX 7EXMRK &KIRGMIWMR &WME &(7&& LIEH UYEVXIVIH MR 2ERMPE WTSRWSVIH F] XLI Asian Development Bank. Mr. Ahmed is also the (LEMVQER SJ XLI 8VEMRMRK (SQQMXXII SJ &(7&&

8LI +MRERGMEP 2MVVSV VI[EVHIH 2V &LQIH JSV LMW outstanding contribution towards Institutional )IZIPSTQIRX MR XLI +MRERGMEP IGXSV SJ XLI GSYRXV] twice â&#x20AC;&#x201C;once in 2004 and again in 2010. Mr. Ahmed has many publications to his credit and has attended many Conferences and Seminars both at home and abroad and presented a number of XIGLRMGEP TETIVW EW 7IWSYVGI 5IVWSR

2nd ICSB National Award for Corporate Governance Excellence | 2014

Mohammad Sanaullah FCS

Itrat Husain FCMA FCS

Mohammad Sanaullah was the ÇťVWX 5VIWMHIRX SJ XLI .RWXMXYXI SJ Chartered Secretaries of Bangladesh (ICSB) for the term 2010-2013. He is also one of the +IPPS[ ERH +SYRHIV 2IQFIVW of the lnstitute of Chartered Secretaries of Bangladesh, Past President of the .RXIVREXMSREP +IHIVEXMSR SJ (SQTER] IGVIXEVMIW .+( ERH 5EWX 5VIWMHIRX SJ the Institute of Chartered Secretaries and Managers of Bangladesh (ICSMB) established in 1997.

In Bangladesh he has worked in senior positions for PEVKI FYWMRIWW LSYWIW PMOI .3,*7 '*<.2(4 87&3 (42 ERH *:.3(* ,7495 -I LEW EPWS provided consultancy services to several organisations. Presently he is also serving as an Independent Director on the Board of Bengal Poly and Paper Sack Limited (Bengal Group).

He is a former Director (2010-2013), Bangladesh Institute of Capital Market (BICM); a former Vice President, Intellectual Property Association of 'ERKPEHIWL .5&' E GIVXMÇťIH 8VEMRIV SR (SVTSVEXI Governance â&#x20AC;&#x201C; Board Leadership of the â&#x20AC;&#x2DC;Global (SVTSVEXI ,SZIVRERGI +SVYQ ,(,+ Ćś SJ .RXIVREXMSREP +MRERGI (SVTSVEXMSR .+( 7IWSYVGI person on Corporate Governance issues at Dhaka Stock Exchange Training Academy. EREYPPEL MW E 2IQFIV SJ XLI 8VEHI 8EVMÇş 8E\EXMSR (SQTER] &ÇşEMVW (SQQMXXII +SVIMKR .RZIWXSVW (LEQFIV SJ (SQQIVGI ERH .RHYWXV] +P((P -I LEW HIZIPSTIH ERH GSRXVMFYXIH WMKRMÇťGERXP] XS various professional development programs and workshops organized by the Institute and various forums, both at home and abroad. His contribution towards the development of the profession of Chartered Secretaries in Bangladesh is remarkable.

He is the Chief Executive of Itrat Husain & Associates, E ÇťVQ SJ Ć¸(LEVXIVIH IGVIXEVMEP IVZMGIWĆš LI established in 2013 providing Secretarial Services, (SVTSVEXI ,SZIVRERGI (SQTPMERGI (IVXMÇťGEXMSR Training and other related Corporate Services. .XVEX -YWEMR MW SRI SJ XLI +SYRHIV 2IQFIVW SJ XLI Institute of Chartered Secretaries of Bangladesh (ICSB), which was originally established in 1997 and MW E +IPPS[ 2IQFIV SJ XLI .RWXMXYXI -I MW E 5EWX President of ICSB (2007-2008) and is a Council Member since 1997. He did his Chartered Management Accountancy (.2& GSYVWI JVSQ 90 MR ERH MW EPWS E +IPPS[ Member of the Institute of Cost and Management Accountants of Bangladesh (ICMAB).

EREYPPEML MW EPWS E +IPPS[ SJ XLI .RWXMXYXI SJ Personnel Management, Bangladesh and Member of the Institute of Internal Auditors USA, Life Member, Accounting Alumni University of Dhaka, a former Council Member (2005-2007) Bangladesh Society JSV -YQER 7IWSYVGIW 2EREKIQIRX ' -72

Itrat Husain is a widely travelled person who has visited more than thirty three countries. He is a 7SXEVMER ERH MW EPWS EWWSGMEXIH [MXL ZEVMSYW philanthropic and cultural activities in the country.

2nd ICSB National Award for Corporate Governance Excellence | 2014

He did his Graduation and professional degree in Law (LL.B.) from the Dhaka University. He obtained 11 2 ERH EPWS 2'& QENSV MR -YQER 7IWSYVGI 2EREKIQIRX -I MW XLI +IPPS[ 2IQFIV SJ .RWXMXYXI SJ Chartered Secretaries of Bangladesh (ICSB).

Being the President of ICSB he has been nominated as Member of the Board of Directors of Bangladesh Institute of Capital Market(BICM) established under the direct supervision and control of Bangladesh Securities and Exchange Commission (BSEC) for the term 2013-2016. Prior to that he also performed the responsibility as the Member of the Board of BICM for the terms 2008-2009 and 2009-2010 and played a pioneering role for its establishment. He is also an active Member of a number of professional organizations of the country.

As President of the Institute for 3 Terms: 2006-2007, 2008-2009 and 2009-2010 he had performed the responsibilities with the best satisfaction and successfully represent the Institute in national and international level. Under his dynamic leadership, VIPIRXPIWW IǺSVXW ERH GSRWXERX TIVWYEWMSR [MXL XLI highest level of Government for long 11 years the Ƹ(LEVXIVIH IGVIXEVMIW &GX ƹ [EW ǻREPP] TEWWIH in the Jatio Sangshad of Bangladesh on 7th June 2010 and created a milestone in the history of Chartered Secretaries Profession in Bangladesh, which brought the Institute as Statutory Body under ER &GX SJ 5EVPMEQIRX +SV WYGL SYXWXERHMRK performance and contributions towards the

)YVMRK XLI PSRK XIRYVI SJ WIVZMGI [MXL '*<.2(4 LI participated in various professional seminars, workshops and training courses in Bangladesh as well as in the UK, USA, Pakistan, India, Singapore, Hong Kong, Malaysia, Japan and Australia. He carries vast experience in the areas of Professional Management and Corporate Legal &ǺEMVW

2nd ICSB National Award for Corporate Governance Excellence | 2014

PROMOTING GOOD GOVERNANCE EXCELLENCE Prof Dr Feroz I. Faruque FCS DBA FCCE CPA CEPA (USA) Introduction Full comprehensive understanding enables boards and senior management to navigate and address complex regulatory and compliance issues. Therefore, I expect boards and senior management design appropriate governance frameworks and understand the strategic implications of regulatory changes. In addition to creating processes by which senior leadership can view enterprise risks, but provide lucid, timely analysis too. While evaluating the roles, responsibilities and processes associated with these functions, identify commonalities ERH W]RIVKMIW XS MQTVSZI IÇ˝GMIRG] while meeting compliance goals. '] LIPTMRK ÇťVQW XS MQTVSZI XLIMV control environments, enable senior management to delegate authority and to develop best practice-policy and procedural frameworks consistent with regulators' expectations and the organization's risk appetite. As growth expectations intensify, regulation increases and more technology innovations enter the market, programs must continually reassess LS[ XS IÇşIGXMZIP] ERH IÇ˝GMIRXP] meet key strategic objectives. Amid these challenges, most organizationsâ&#x20AC;&#x2122; functions are still struggling to provide the expected ZEPYI FSXL MR JYPÇťPPMRK MXW XEWOW ERH realizing savings. Based on my experience serving diverse clients base, I have found that these levers were critical in enabling successful transformations that improve business performance: Rationalization of Compliance, Audit and Operational Risk Functions: Organizations today are struggling with managing risks across the enterprise. Rapidly changing business trends and technological MRRSZEXMSRW LEZI WMKRMÇťGERXP] changed the risk landscape. Companies lagging behind the innovation curve, increase their vulnerability to these proliferating

risks. Executives of leading organizations are placing a greater importance on identifying, managing and monitoring the rapidly evolving strategic and FYWMRIWW VMWO TVSÇťPI JSGYWMRK FI]SRH ÇťRERGMEP STIVEXMSREP ERH regulatory compliance. To enhance decision making and avoid unnecessary costs, establishing a comprehensive enterprise-wide risk and control governance model is crucial, ensuring that the corporate risk strategy is balanced and that responsibilities for risk oversight and ownership are right sized and TVSTIVP] HIÇťRIH 1IEHMRK organizations recognize that technology is essential to execute TVSGIWWIW IÇşIGXMZIP] ERH IÇ˝GMIRXP] 8IGLRSPSK] SÇşIVW MRLIVIRX functionality that can help drive optimization and standardization through automation and centralization, which recent decades have witnessed a notable trend in corporate compliance and governance oversight. Many companies have made considerable progress in strengthening their corporate compliance programs. In the wake of policy developments, compliance programs, and the chief IXLMGW ERH GSQTPMERGI SÇ˝GIVW [LS helm them, have gained in visibility and prominence. The voice of the GSQTPMERGI SÇ˝GIV MW MRGVIEWMRKP] being heard at board and C-suite levels, in part as the tactical head of ER IQTS[IVIH GSQTPMERGI IÇşSVX and also as a focal point for building an ethical culture within the corporation. With these developments in mind, I intend to convene a symposium on "Transforming Compliance: Emerging Paradigms for Boards, 2EREKIQIRX (SQTPMERGI 4Ç˝GIVW and Government." The objective is to stimulate a forward-looking conversation about compliance as a ÇťIPH JEGXSVW XLEX EVI PMOIP] XS contribute to its transformational change, and practical implications for key stakeholder groups.

2nd ICSB National Award for Corporate Governance Excellence | 2014

Compliance is a Field in Flux: The ÇťIPH XLEX MW YRHIVKSMRK GLERKI MR WIZIVEP HMÇşIVIRX [E]W EX SRGI 8LIWI ways include the sources of the compliance burden, the professional identity of compliance practitioners, and the posture of government IRJSVGIQIRX IÇşSVXW &PP SJ XLIWI vectors are important to YRHIVWXERHMRK LS[ XLI ÇťIPH MW PMOIP] to evolve in the future. Chief Ethics ERH (SQTPMERGI 4Ç˝GIVW ERH Compliance Programs Operate in Tandem with Boards and Senior Executives, So any Transformation of (SQTPMERGI [MPP EPWS LEZI ER IÇşIGX on Boards and Senior Executives. To the extent that compliance programs (and chief ethics and GSQTPMERGI SÇ˝GIVW KVS[ QSVI IÇşIGXMZI [MXLMR XLIMV GSQTERMIW XLI burden of compliance risk for boards and C-suites will presumably be reduced. To the extent that GSQTPMERGI FIGSQIW PIWW IÇşIGXMZI the burden of compliance risk for boards and C-suites will presumably FI EQTPMÇťIH (SVTSVEXI VITYXEXMSR risk is at least partly tied to the compliance function, and to the risk of failure in compliance processes leading to crisis events. Any discussion about the transformation SJ GSQTPMERGI MRZMXIW VIÇźIGXMSR about business reputation risk and the future ability of the compliance function to help mitigate that risk. Recommendations Ć˝ 'SEVHW WLSYPH XEOI WXITW XS strengthen compliance and ethics GETEFMPMX] ERH QSRMXSVMRK IÇşSVXW Ć˝ 2EREKIQIRX WLSYPH JSGYW SR both structure and culture in the organization.

Ć˝ ,SZIVRQIRX WLSYPH LIPT F] setting consistent standards and leading by examples.

determining the organizationâ&#x20AC;&#x2122;s strategic direction and managementâ&#x20AC;&#x2122;s role in achieving corporate objectives.

governance breaches and corporate wrongdoing than the culture and trust created by the chairperson. As the â&#x20AC;&#x153;leaderâ&#x20AC;? of the board, the chairperson should demonstrate strong and acknowledged leadership ability, the ability to establish a sound relationship with the CEO, and have the capacity to conduct meetings and lead group decision-making processes.

Ć˝ (SQTPMERGI SÇ˝GIVW GER WXVIRKXLIR XLI ÇťIPH XLVSYKL 5. Recognize that the governance MQTVSZIH IÇşSVXW SR VSPI HIÇťRMXMSR of risk is a board responsibility: professional development, Establishing a sound system of education, and communication. risk oversight and management and internal control is another Ć˝ YKKIWXIH XIR XITW XS .QTVSZMRK fundamental role of the board. Corporate Governance: *ÇşIGXMZI VMWO QEREKIQIRX 1. Recognize that good governance supports better decision making is not just about compliance: because it develops a deeper 9. Build a skills-based board: What Boards need to balance insight into the risk-reward is important for a board is that it conformance (i.e. compliance XVEHI SÇşW XLEX EPP SVKERM^EXMSRW has a good understanding of with legislation, regulation and face. what skills it has and those skills GSHIW SJ TVEGXMGI [MXL it requires. Where possible, a 6. Ensure the directors have the performance aspects of the board should seek to ensure that information they need: Better boardâ&#x20AC;&#x2122;s work (i.e. improving the its members represent an information means better performance of the organization appropriate balance between decisions. Regular board papers through strategy formulation and directors with experience and will provide directors with TSPMG] QEOMRK knowledge of the organization information that the CEO or and directors with specialist 2. Clarify the boardâ&#x20AC;&#x2122;s role in management team has decided expertise or fresh perspective. strategy: The extent of the they need. Directors should also be boardâ&#x20AC;&#x2122;s contribution to strategy 'YMPH ERH QEMRXEMR ER IÇşIGXMZI considered on the additional will range from approval at one governance infrastructure: Since qualities they possess, their end to development at the other. the board is ultimately â&#x20AC;&#x153;behavioral competenciesâ&#x20AC;?, as Each board must determine responsible for all the actions XLIWI UYEPMXMIW [MPP MRÇźYIRGI XLI what role is appropriate for it to and decisions of an organization, relationships around the undertake and clarify this it will need to have in place boardroom table, between the understanding with WTIGMÇťG TSPMGMIW XS KYMHI board and management, and management. organizational behavior. To between directors and key 3. Monitor organizational ensure that the line of stakeholders. performance: It ensures that responsibility between board 10. Evaluate board and director corporate decision making is and management is clearly performance and pursue consistent with the strategy of delineated, it is particularly opportunities for improvement: the organization and with important for the board to Boards must be aware of their ownersâ&#x20AC;&#x2122; expectations. This is best develop policies in relation to own strengths and weaknesses, done by identifying the delegations. Poor internal MJ XLI] EVI XS KSZIVR IÇşIGXMZIP] organizationâ&#x20AC;&#x2122;s key performance processes and procedures can 'SEVH IÇşIGXMZIRIWW GER SRP] FI drivers and establishing lead to inadequate access to gauged if the board regularly appropriate measures for information, poor assesses its own performance determining success. As a board, communication and uninformed and that of individual directors. the directors should establish an decision making, resulting in a Improvements to come from a agreed format for the reports high level of dissatisfaction board and director evaluation they monitor to ensure that all among directors. Enhancements can include areas as diverse as matters that should be reported to board meeting processes, board processes, director skills, are in fact reported. meeting agendas, board papers competencies and motivation, or and the boardâ&#x20AC;&#x2122;s committee 4. Understand that the board even boardroom relationships. It structure can often make the employs the CEO: In most cases, is critical that any agreed actions HMÇşIVIRGI FIX[IIR E QIHMSGVI one of the major functions of the that come out of an evaluation board and a high performing board is to appoint, review, work are implemented and monitored. board. through, and replace (when Boards should consider RIGIWWEV] XLI (*4 8LI 8. Appoint a competent addressing weaknesses board/CEO relationship is crucial chairperson: Research has uncovered in board evaluations XS IÇşIGXMZI GSVTSVEXI shown that board structure and through director development governance because it is the link formal governance regulations programs and enhancing their between the boardâ&#x20AC;&#x2122;s role in are less important in preventing governance processes.

2nd ICSB National Award for Corporate Governance Excellence | 2014

PROFILES OF THE CHAIRMAN AND MEMBERS OF THE JURY BOARD Dr. A. B. Mirza Md. Azizul Islam, Chairman, Jury Board Dr. A. B. Mirza Md. Azizul Islam was born on February 23, 1941 HMH LMW ' & -SRW ERH 2 & MR Economics from Dhaka University in 1960 and 1961 respectively. He, also, obtained M.A. in Development Economics from Williams College, ;MPPMEQWXS[R 2EWWEGLYWIXXW U.S.A. in 1975 and Ph.D. in Economics from Boston University, Boston, U.S.A. in 1980. He joined Dhaka University in EW E 1IGXYVIV .R LI joined the Civil Service of Pakistan. From 1967-82 he served the East and West Pakistan and Bangladesh in HMÇşIVIRX GETEGMXMIW )YVMRK XLI period from 1982-86, he was *GSRSQMG &ÇşEMVW IRMSV

Mr. Siddiqi was born on January 20, 1947. He obtained his B. A. -SRW ERH 2 & HIKVIIW MR *RKPMWL 1ERKYEKI ERH 1MXIVEXYVI from the Department of English, University of Dhaka, in 1966 and 1967 respectively. He held very high positions in the Govt. He was the member of the National 'SEVH SJ 7IZIRYI 3'7 HYVMRK 1999-2001. From 2000 until 2006, he served the Government of Bangladesh as its Secretary to the Ministry of Post & Telecommunications, the Ministry of Education and the Ministry of Commerce. Mr.

*GSRSQMG &ÇşEMVW 4Ç˝GIV 9RMXIH Nations, ESCAP, Bangkok. During 1987-92, he was the Chief, Developing Economies Section, United Nations Centre on Transnational Corporations, New York. He was the Director, Research and Policy Analysis Division, United Nations ESCAP, Bangkok during 1993-2001. He was consultant to UNCTAD, World Bank and Centre for Policy Dialogue. From November 2003 to February 2006 he held the position of Chairman, Securities and Exchange Commission of 'ERKPEHIWL ' *( -I [EW EPWS the Chairman of Sonali Bank. Ministry of

Finance, Planning, Commerce and Posts & Telecommunications, the last Caretaker Government of the Peopleâ&#x20AC;&#x2122;s Republic of Bangladesh. Presently he is a Visiting Professor in Brac University.

Siddiqi was a Chairman of Bangladesh Securities and *\GLERKI (SQQMWWMSR ' *( from 2006 to 2009. He attended a good number of seminars and conference on regional and international trade, commerce and communication. He headed the delegation for negotiating with the World Bank for corporatization of BTTB, and with the counterparts of the countries like Russia, South Africa, Egypt and Yemen on bilateral tax treaty. He was an active member of WTO negotiations in 2006. He is a widely travelled person. Mr.

Siddiqi is currently a Member of the Rating Committee of Credit Rating Agency of Bangladesh 1XH (7&'

He was

Adviser,

2nd ICSB National Award for Corporate Governance Excellence | 2014

Suhel Ahmed Choudhury, Member, Jury Board Suhel Ahmed Choudhury is a former council member of Asiatic Society of Bangladesh. Under the Chairmanship of Mr. (LSYHLYV] /EREXE 'ERO 1MQMXIH QEHI LMKLIWX TVSÇťX MR XLI banking sector in 2008. Mr. Choudhury, a member of the former PA & AS, retired from service in 2004 as the commerce secretary of Bangladesh. He spent a major portion of his service carrier in the ministry of commerce, Foreign Trade Division as a deputy secretary, commercial counselor in the Bangladesh Permanent Mission to the European Commission in Brussels, additional secretary ERH ÇťREPP] EW XLI GSQQIVGI secretary from February 2001 to 2004. He also held important positions in the ministry of ÇťRERGI MR XLI W Mr. Choudhury was the member-secretary of the National Export Council. Several policy measures were either initiated or updated by him including the Medium Term Bangladesh Export Policy and Bangladesh Import Policy. He chaired several other trade policy related bodies/ committees and was a member

of the Central Bank committee. He was a member of the Investment Board, Privatization Commission, Export Processing Zones Authority and others. He was the CEO of two specialized ÇťRERGMEP MRWXMXYXMSRW MR XLI QMH 1990s. He played a key role in the setting up of Bangladesh Foreign Trade Institute, a PPP, and became its founder vice-chair. The WTO Cell of MoC was set up under his leadership in the year 2002. Reorganization of the Export Promotion Bureau and modernization of the Registrar of (SQTER]ĆśW 4Ç˝GI [EW MRMXMEXIH MR 2003. Mr. Choudhury was the leader of Bangladesh delegation on TIFA negotiations with USA in 2002 and 2003 and led several trade delegations to India, Pakistan, Sri 1EROE 3ITEP 'LYXER ERH Thailand on FTAs and RTAs in regard to SAPTA, SAFTA and BIMSTEC etc. between 2001 and 2004. He was invited to attend seven regional seminars/conferences as a resource person in New Delhi, Goa and Islamabad between 2005 and 2009. He is the

President of Bhitargarh Promotional Society. Mr. Choudhury dealt with WTO issues from the beginning of 2001 and provided leadership in formulating Bangladesh position at various capitals. He was the alternate leader of Bangladesh HIPIKEXMSR XS +SYVXL )SLE ERH +MJXL (ERGYR ;84 Ministerial Conferences and leader of delegations to Geneva, Brussels, Tokyo and elsewhere. He was also the Secretary, housing and works ministry. He is the recipient of the First ICT Championship Award, 2009 awarded by BASIS. Apart from trade issues, Mr. Choudhury is involved in urban development and history and heritage issues.

2nd ICSB National Award for Corporate Governance Excellence | 2014

Feroz Ahmed, Member, Jury Board Feroz Ahmed was born on December 1, 1952. Mr. Ahmed obtained his graduate and post graduate degrees in Economics from Dhaka University. He joined Bangladesh Civil Service in 1979 and served many organizations in highly respectable positions in the Government and also headed/participated in important delegations to WTO, UNCTAD,SAARC, D-8 Conference and other important programs in Asia, Africa, Europe and U.S.A.

Feroz Ahmed served the Republic as Secretary, Ministry of Commerce. Before that he served the Ministry of Youth & Sports as Secretary, Jamuna Multipurpose Bridge Authority, Ministry of Communications as Executive Director, Department of Insurance as Chief Controller of Insurance, Ministry of Finance as Joint Secretary. He played key role in formulating Insurance laws, National Revenue Budget 2001-02. He was also the Chairman of Board

of Directors of Investment (SVTSVEXMSR SJ 'ERKPEHIWL .(' and Bangladesh Insurance &GEHIQ] '.&

Md. Abdul Karim, Member, Jury Board Md. Abdul Karim, former Principal Secretary to the Government of Bangladesh, is the Managing Director of Palli Karma-Sahayak Foundation 50 + *EVPMIV LI WIVZIH EW XLI Secretary to the Government in the Ministries of Commerce, +MWLIVMIW ERH 1MZIWXSGO -SQI &ÇşEMVW (SQQYRMGEXMSRW 'VMHKIW )MZMWMSR ERH +MRERGI .RXIVREP 7IWSYVGIW )MZMWMSR -I EPWS served as the Economic/Commercial Minister/ Counsellor of Bangladesh Embassy in Belgium. Mr. Karim was Chairman of the National Board of Revenue and Bangladesh Petroleum Corporation. He was Chairperson of a number of national level committees of various Ministries. Mr. Karim obtained M.Sc. degree from the University of Chittagong, Bangladesh and Master of Social Science degree in Development Administration from the University of

Birmingham, UK. As the Secretary General of the South *EWX &WMER (SSTIVEXMSR *&(4 Foundation, Mr. Karim is working at civil society level to promote XVEHI ERH MRZIWXQIRX EQSRK ÇťZI countries of the South and South East Asian region including Bangladesh. He is a Paul Harris +IPPS[ 5-+ 7SXEVMER ERH contributes towards improvement of socio-economic condition of the disadvantaged people. Mr. Karim promotes sports and is the President of Bangladesh Table Tennis Federation. He is immediate past President of Bangladesh Scouts 'S] GSYXW ERH ,MVP ,YMHIW ERH obtained highest Scout award of Bangladesh. Mr. Karim has travelled to 46 countries. He has lectured at various Universities and Training Institutions as guest speaker and authored books and articles on local government and other subjects. Mr. Karim is leading the Palli Karma-Sahayak

2nd ICSB National Award for Corporate Governance Excellence | 2014

+SYRHEXMSR 50 + XS MQTPIQIRX sustainable, holistic, people-centred poverty alleviation and rural development programmes in 'ERKPEHIWL XLVSYKL ÇťRERGMEP ERH RSR ÇťRERGMEP WIVZMGIW training, income generating and employment generation activities. He has obtained corporate experience as Independent Director of a number of Bank, Insurance Company, Non-Banking Financial Institution Petroliam 7IÇťRIV]

THE INSTITUTE –IN RETROSPECT The Beginning……… In early 1997, thirteen like-minded professionals got together and MHIRXMǻIH XLI RIIH JSV E Professional Institute to cater to the needs of the corporate world for addressing issues such as governance/secretarial practices, etc. As a consequence, under the PIEHIVWLMT SJ 2V 2Y^EǺEV &LQIH FCS, “The Institute of Chartered Secretaries and Managers of Bangladesh” (ICSMB) was established in July 1997 as a Press Conference on the eve of the formation of the national professional Institute Institute held on 17 July 1997 under license from the Ministry of Commerce, Government of Bangladesh and constituted under Section 28 of the THE ENACTMENT OF THE Iajuddin Ahmed ascent the Bill and it was promulgated as CHARTERED SECRETARIES ACT Companies Act, 1994. Chartered Secretaries Ordinance Chartered Secretaries F] E ,E^IXXI 3SXMǻGEXMSR SR The aim of the Institute was to The promote, develop and regulate Ordinance 2008 16 June 2008 incorporating a the profession of Company number of provisions in the Secretaries and create an The Council Members of ICSMB Ordinance interpolated by the environment for good governance continued their pursuit for the Ministry of Law after it was passed in the corporate sector of promulgation of an Act. After a by the Cabinet of Advisers of the of examinations, Government. Bangladesh in 1998, the Institute series Upon strong for its own existence and re-examinations and vetting by objections by the Government did development placed a draft bill every quarter concerned with the RSX QEOI IǺIGX SJ XLI 4VHMRERGI before the Ministry of Commerce, Bill, the Council of Advisors of the and thus the Ordinance was made Government of Bangladesh. It was former Care Taker Government in MRIǺIGXMZI aimed to regulate the profession TVMRGMTEP EGGSVHIH ǻREP ETTVSZEP ERH JSV XLI YPXMQEXI FIRIǻX SJ XLI on the Bill in their meeting held on However, at the interference of Dr. 6 April 2008. Hon’ble President Dr. A B Mirza Md. Azizul Islam, Dr. nation. Hossain Zillur Rahman and Mr. Feroze Ahmed, the Law Ministry later agreed to amend the provisions in the Ordinance interpolated by them and sent a draft Ordinance again to the Cabinet Division through the Ministry of Commerce for their approval. The Secretaries’ Committee approved it as amended by the Ministry of Commerce and placed the same before the meeting of the Council The 1st Council of the Institute of Chartered Secretaries & of Advisers held on 28 December Managers of Bangladesh (ICSMB) 2008, which was the last meeting of the Council of Advisers of

2nd ICSB National Award for Corporate Governance Excellence | 2014

Caretaker Government. However, the Council of Advisers was kind enough to approve the Ordinance in the said meeting and sent it to the Ministry of Law for promulgation of gazette RSXMǻGEXMSR 'YX MX [EW RSX gazetted by the Ministry of Law and returned to the Ministry of Commerce on 14 January 2009 mysteriously with irresponsible comments. The Chartered Secretaries Act 2010 After the Awami League Government came into power on 6 January 2009 Mohammad Asad Ullah met at once with the Hon’ble Commerce Minister Mr. Mohammad Faruk Khan MP and 1E[ 2MRMWXIV 'EVVMWXIV LEǻUYI Ahmed and other Ministers and Secretaries concerned to get support from them to enact the CS Bill in the Parliament of newly formed Government. All of them assured us to pass the Bill in the Parliament as early as possible. 8LI ǻPI EKEMR QSZIH JSV[EVH and was sent to the Cabinet Division on 05.08.2009. The Cabinet Division placed the Chartered Secretaries Bill 2009 before the Cabinet on 10.8.2009 and it was passed in that meeting in principle.

Mohammad Asad Ullah FCS, President, ICSB Awarded a GOLD MEDAL

&KDUWHUHG 6HFUHWDULHV $FW

The Bill as approved by the Cabinet was again sent t the Ministry of Law for vetting on 07.09.2009. The Ministry of Law after vetting sent the Bill to the Ministry of Commerce for onward placing before the Cabinet of Ministers. The Bill was placed before the Cabinet on 15.02.2010 [LMGL KSX MXW ǻREP ETTVSZEP SJ XLI Cabinet. Finally Mr. Mohammad Faruk Khan, Hon’ble Minister for Commerce, placed the

2nd ICSB National Award for Corporate Governance Excellence | 2014

Mohammad Asad Ullah FCS handed over a Crest to Mr. Faruk Khan MP, the then Commerce Minister, GoB.

Chartered Secretaries Bill 2010 before the Parliament on 15.03.2010. The Parliament received the Bill and on the same day it was sent to the Standing Committee on Ministry of Commerce, for examination and scrutiny and also to submit a report on it before the Parliament.

Parliament on 2nd June 2010. The Bill was placed before the Parliament Members on 7 June ERH [EW ǻREPP] TEWWIH ERH TYFPMWLIH E ,E^IXXI 3SXMǻGEXMSR on June 16, 2010 and thus creating a milestone for the history of the profession of Chartered Secretary of Bangladesh.

Chartered Secretaries of Bangladesh (ICSB) a statutory body under an Act of Parliament. It was the beginning of a “New Era”! Chartered Regulations 2011

Secretaries

Since the enactment of the Chartered Secretaries Act 2010, it Mohammad Asad Ullah After a long struggle, persuasions was another grand achievement accompanied by Mr. Mohammad ERH IǺSVXW QEHI F] XLI EFPI for ICSB to have had the Secretaries Sanaullah, met with Advocate leadership of Mr. Mohammad Chartered Regulations 2011 promulgated Luthful Hye, MP, the Chairman of Asad Ullah FCS for about 11 years, the Parliamentary Standing the Institute got the Chartered ERH TYFPMWLIH MR XLI 4ǽGMEP Act 2010 and Gazette. Committee and apprised him Secretaries EFSYX HMǺIVIRX EWTIGXW SJ XLI 'MPP established the Institute as a A delegation headed by Statutory Body under an Act of New Logo Mohammad Asad Ullah attended Parliament. In recognition of his towards the at the Meeting of Parliamentary contribution Committee at the Jatio Sangshad enactment, Mr. Asad Ullah was Bhaban on 10 May 2010 and awarded with a gold medal by the submitted strong arguments Institute. before the Scrutiny Committee for enactment of the CS Bill. The After the promulgation of the Act The Institute adopted a new logo Institute of Chartered as part of its branding program. Standing Committee after the Secretaries and Managers of This was approved by the examinations and scrutiny were Bangladesh (ICSMB) has been 2IQFIVW EX XLI ǻVWX &,2 SJ XLI GSRZMRGIH ERH ǻREPM^IH XLI 'MPP and submitted it before the transformed as the Institute of Institute.

2nd ICSB National Award for Corporate Governance Excellence | 2014

LANDMARKS IN ICSB HISTORY

1 9 97

Incorporation of the Institute of Chartered Secretaries and Managers of Bangladesh (ICSMB) in July as a national professional Institute under license from the Ministry of Commerce, Government of Bangladesh and constituted under Section 28 of the Companies Act, 1994. The Institute started its journey with 13 Professional Chartered Secretaries with an aim to regulate, promote and develop the profession of the Chartered / Company Secretaries in Bangladesh. The founder members of the Institute were as follows:

1. 2. 3. 4. 5. 6. 7.

Muzaffar Ahmed M. S. Alam Mia A. K. A. Muqtadir Mohammad Sanaullah Md. Zahangir Alam M .Siddiqur Rrahman Md. Saiduzzaman

y y

8. 9. 10. 11. 12. 13.

Md. Yeamin Hossain Itrat Hussain Sultan-ul-Abedine Molla Muhammed Abul Hashem Md. Anwarul Afzal Nanda Gopal Chakraborty

The First Council of the Institute was formed in July with the following members: Muzaffar Ahmed M. S. Alam Mia A. K. A. Muqtadir Mohammad Sanaullah Md. Zahangir Alam M .Siddiqur Rrahman Md. Saiduzzaman Md. Yeamin Hossain

Itrat Hussain Sultan-ul-Abedine Molla Muhammed Abul Hashem Nanda Gopal Chakraborty Md. Anwarul Afzal A. F. M. Shamsudduha Md. Abdus Salam

y )Çöúā ß¯¯āÇà¿ çº āÄ¯ çĆà¥ÇÙ Ē ú Ä¯Ù« çà Ɣƕ =ĆÙę à« ¯Ù¯¥ā¯« GĆĞ ºº ö Äß¯« ú āÄ¯ »öúā Zö¯úÇ«¯àā à« çāÄ¯ö çº»¥¯ ¤¯ ö¯öú ú ºçÙÙçĒúĻ Muzaffar Ahmed Md. Saiduzzaman A. K. A. Muqtadir Mohammad Sanaullah M. S. Alam Mia

-President -Senior Vice President -Vice President -Treasurer -Secretary

y First Annual General Meeting of the Institute held in October. y ĆöÇà¿ »öúā āĒç à« Ä Ùº ę¯ öú «¯ā ÇÙ¯« ¥ĆööÇ¥ĆÙĆß çº Ä öā¯ö¯« a¯¥ö¯ā öę ¥çĆöú¯ «¯đ¯Ùçó¯« ¤ę the Committee consisting of Mohammad Sanaullah and N. G. Chakraborty.

1998

First batch of Chartered Secretary students enrolled in January. First batch coaching classes commenced from March at Notre Dame College. First professional examination held in July. The Examination Committee headed by Mohammad Sanaullah developed the Examination System/Procedure for conducting the examinations. y First Training Course on Shares Management for corporate executives, designed and conducted by A.K.A. Muqtadir, held in August. y 2nd Annual General Meeting of the Institute held in August. y The proposed Chartered Secretaries Act drafted by the committee consisting of: A.K.A. Muqtadir Mohammad Sanaullah M. S. Alam Mia y The draft Chartered Secretaries Bill approved by the Council in August and submitted to the Government (Ministry of Commerce) on 29 September. y )Çöúā ¯öāÇ»¥ ā¯ Ē ö«Çà¿ ¯ö¯ßçàę ºçö Zöçº¯úúÇçà Ù iö ÇàÇà¿ çĆöú¯úŔ ó öāÇ¥Çó àāú Ä¯Ù« Çà November. The Chairman, Securities and Exchange Commission graced the occasion as Chief Guest. y y y

2nd ICSB National Award for Corporate Governance Excellence | 2014

LANDMARKS IN ICSB HISTORY

1999

First comprehensive professional training course on Company Management for Members and Senior Managers of corporate sectors, designed by M. S. Alam Mia, commenced in July and conducted in two batches. 1st batch inaugurated by Syed Alamgir Farrouk Chowdhury, Secretary, Ministry of Commerce, Government of Bangladesh. y ¯öāÇ»¥ ā¯ Ē ö«Çà¿ ¯ö¯ßçàę çº āÄ¯ G¯ß¤¯öú çº āÄ¯ 2àúāÇāĆā¯ à« Z öāÇ¥Çó àāú çº Zöçº¯úúÇçà Ù Training Courses held in October. The Minister of Law, Justice & Parliamentary Affairs, Advocate Abdul Matin Khasru, graced the occasion as Chief Guest. y )Çöúā ÇúúĆ¯ Ƅ=ĆÙęƎ a¯óā¯ß¤¯öƅ çº çº»¥Ç Ù =çĆöà Ù çº āÄ¯ 2àúāÇāĆā¯ ŗiÄ¯ Ä öā¯ö¯« a¯¥ö¯ā öęŘ óĆ¤ÙÇúÄ¯«ĸ iÄ¯ »öúā «ÇāçöÇ Ù ç ö« ¥çßóöÇú¯« çºĻ y

Md. Abdus Salam A. K. A. Muqtadir Mohammad Sanaullah N. G. Chakraborty Md. Zahangir Alam y

2000

Editor Member Member Member Member

3rd Annual general Meeting of the Institute held in August.

ŏ )Çöúā ¤ ā¥Ä çº úāĆ«¯àāú ó úú¯« çĆā ú Ä öā¯ö¯« a¯¥ö¯ā öę Çà = àĆ öęĸ ŏ iÄ¯ Nº»¥¯ çº āÄ¯ 2àúāÇāĆā¯ úÄÇºā¯« āç ƔƓƚ ? Öö ÇÙ ƄƔúā )Ùççöƅķ Ä Ö ƎƔƓƓƓĸ ŏ ç ¥ÄÇà¿ Ù úú úÄÇºā¯« ºöçß Hçāö¯ ß¯ çÙÙ¯¿¯ āç 2àúāÇāĆā¯Ŕú Nº»¥¯ ¥ ßóĆú ā ƔƓƚ ? Öö ÇÙķ Dhaka-1000. ŏ AÇ¤ö öę çº āÄ¯ 2àúāÇāĆā¯ çó¯à¯« Çà āÄ¯ à¯Ē çº»¥¯ Ùç¥ āÇçàĸ ŏ )Çöúā ú¯ßÇà ö çº āÄ¯ 2àúāÇāĆā¯ çà āÄ¯ ºĆà¥āÇçà Ù çó¯ö āÇçàú çº ¯àāö Ù ¯óçúÇāçöę aęúā¯ß Ƅ aƅ held in May. A. G. M. Shamsul Kamal, Managing Director and CEO, Central Depository of Bangladesh Ltd. presented the Keynote paper. ŏ ƗāÄ ààĆ Ù *¯à¯ö Ù G¯¯āÇà¿ à« Ù¯¥āÇçà āç āÄ¯ ƕà« çĆà¥ÇÙ Ä¯Ù« Çà Ć¿Ćúāĸ ŏ iÄ¯ à¯Ē çĆà¥ÇÙ ¯Ù¯¥ā¯« Çāú çº»¥¯ ¤¯ ö¯öú ú ºçÙÙçĒúĻ

Muzaffar Ahmed

President

A. K. A. Muqtadir

Senior Vice President

Mohammad Sanaullah

Vice President

N. G.Chakraborty

Treasurer

Gĸ aĸ Ù ß GÇ

a¯¥ö¯ā öę Ƅ ėƎçº»¥Ççƅ

y )Çöúā ¤ ā¥Ä çº úāĆ«¯àāú õĆ ÙÇ»¯« ú Ä öā¯ö¯« a¯¥ö¯ā öęķ ºā¯ö úĆ¥¥¯úúºĆÙ ¥çßóÙ¯āÇçà çº āÄö¯¯ ßçàāÄúŔ óö ¥āÇ¥ Ù āö ÇàÇà¿ āÄöçĆ¿Ä Çàā¯öàúÄÇó óöç¿ö ßķ à« Ē ö«¯« úúç¥Ç ā¯ G¯ß¤¯öúÄÇó çº āÄ¯ 2àúāÇāĆā¯ ¯ºº¯¥āÇđ¯ ºöçß ƕƚ a¯óā¯ß¤¯öĸ

2001

ŏ )Çöúā çàđç¥ āÇçà çº 2 aG Ä¯Ù« çà ƕƓāÄ )¯¤öĆ öęĸ Ɣúā à« ƕà« ā¥Ä¯ú çº õĆ ÙÇ»¯« Ä öā¯ö¯« a¯¥ö¯ā öÇ¯ú çº āÄ¯ 2àúāÇāĆā¯ Ē ö«¯« ĒÇāÄ āÄ¯Çö ¯öāÇ»¥ ā¯úĸ iÄ¯ çàđç¥ āÇçà ¯ö¯ßçàę ¿ö ¥¯« by Mr. Abdul Jalil, Minister, Ministry of Commerce as Chief Guest and Ghulam Rahman, Secretary, Ministry of Commerce and Manir Uddin Ahmed, Chairman, Securities and Exchange Commission as Special Guests. ŏ ]¯úóçàúÇ¤ÇÙÇāę ¿Çđ¯à āç GçÄ ßß « ú « nÙÙ Äķ ) a āç óĆöúĆ¯ ĒÇāÄ āÄ¯ ¥çà¥¯öà¯« GÇàÇúāöÇ¯ú ºçö enactment of Chartered Secretaries Bill in March ŏ ƘāÄ ààĆ Ù ¿¯à¯ö Ù G¯¯āÇà¿ çº āÄ¯ 2àúāÇāĆā¯ Ä¯Ù« Çà Ć¿Ćúāĸ ŏ G¯ā ĒÇāÄ açÄ ÇÙ Äß¯« ÄçĒ«ÄĆöęķ çßß¯ö¥¯ a¯¥ö¯ā öę à« çßß¯ö¥¯ GÇàÇúā¯ö ¤«ĆÙ = ÙÇÙ headed by Mohammad Asad Ullah in March.

2nd ICSB National Award for Corporate Governance Excellence | 2014

LANDMARKS IN ICSB HISTORY

2002

ŏ 2 aG «¯Ù¯¿ āÇçà Ä¯ «¯« ¤ę GçÄ ßß « ú « nÙÙ Ä ß¯ā ĒÇāÄ çßß¯ö¥¯ GÇàÇúā¯ö ßÇö ?Ä úöĆ Mahmud Chowdhury and Sohail Ahmed Chowdhury in January. ŏ ºā¯ö úāöçà¿ ó¯öúĆ úÇçà ¤ę GçÄ ßß « ú « nÙÙ Äķ »öúā 2àā¯öƎGÇàÇúā¯öÇ Ù G¯¯āÇà¿ Ē ú Ä¯Ù« çà ƕƚĸƓƕĸƕƓƓƕ Çà āÄ¯ GÇàÇúāöę çº çßß¯ö¥¯ Ćà«¯ö āÄ¯ Ä Çöß àúÄÇó çº açÄ ÇÙ Äß¯« ÄçĒ«ÄĆöęķ Commerce Secretary to consider and recognize the Chartered Secretaries profession where Ministry of Finance, Ministry of Law, Ministry of Education, Ministry of Industries, SEC, FBCCI, DSE, CSE, MCCI, ICAB, ICMAB and other stakeholders attended. The meeting took decision to establish the Chartered Secretaries profession to bring it in a legal statute under the Parliamentary Law. ŏ iÄ¯ à¯ĒÙę õĆ ÙÇ»¯« Ä öā¯ö¯« a¯¥ö¯ā öÇ¯ú Ē ö«¯« ĒÇāÄ ¯öāÇ»¥ ā¯úĸ ŏ çàāÇàĆÇà¿ Zöçº¯úúÇçà Ù ¯đ¯Ùçóß¯àā Ƅ Z ƅ óöç¿ö ß çà aā à« ö«ÇĞ āÇçà çº ààĆ Ù ]¯óçöāú held in August. ŏ iÄ¯ úÇ )çĆà« āÇçà ö¯à¯Ē¯« Çāú úĆóóçöā ¤ę óöçđÇ«Çà¿ ¤ççÖú çà đ öÇçĆú úĆ¤Ó¯¥āú ºçö āÄ¯ AÇ¤ö öęĸ ŏ ƙāÄ ààĆ Ù ¿¯à¯ö Ù G¯¯āÇà¿ çº āÄ¯ 2àúāÇāĆā¯ Ä¯Ù« Çà Ć¿Ćúāĸ ŏ a ÇÙÙ Ē ú ö¯Ó¯¥ā¯« à« āĆöà¯« «çĒà ºöçß āÄ¯ çßß¯ö¥¯ GÇàÇúā¯öķ ßÇö ?Ä úöĆ G ÄßĆ«ĸ ŏ ß¯ö¿¯à¥ę ß¯¯āÇà¿ ĒÇāÄ ööÇúā¯ö GçĆ«Ć« Äß¯«ķ A Ē GÇàÇúā¯ö ú¯¯ÖÇà¿ ÄÇú Ä¯Ùó āç óĆöúĆ¯ ĒÇāÄ āÄ¯ çßß¯ö¥¯ GÇàÇúā¯ö āç ö¯đÇđ¯ āÄ¯ »Ù¯ĸ ŏ açĆ¿Äā Ù¯¿ Ù çóÇàÇçà ¤ę āÄ¯ GÇàÇúāöę çº çßß¯ö¥¯ ºöçß āÄ¯ GÇàÇúāöę çº A Ē ĒÄ¯āÄ¯ö āÄ¯ö¯ Çú àę ¥çà½Ç¥ā çº Çàā¯ö¯úā ¤¯āĒ¯¯à āÄ¯ çāÄ¯ö óöçº¯úúÇçàúĸ

2003

ŏ G¯ā ĒÇāÄ ööÇúā¯ö GçĆ«Ć« Äß¯«ķ A Ē GÇàÇúā¯ö ú¯đ¯ö Ù āÇß¯ú Çà = àĆ öęķ G ö¥Ä à« G ęĸ ŏ ƚāÄ ààĆ Ù *¯à¯ö Ù G¯¯āÇà¿ Ä¯Ù« Çà Ć¿Ćúāĸ ŏ iÄ¯ āÄÇö« çĆà¥ÇÙ ºçö āÄ¯ ƕƓƓƖƎƕƓƓƙ ā¯öß ¯Ù¯¥ā¯« à« āÄ¯ à¯Ē çĆà¥ÇÙ ¯Ù¯¥ā¯« āÄ¯ Nº»¥¯ Bearers as follows: Muzaffar Ahmed

President

A. K. A. Muqtadir

Senior Vice President

Mohammad Sanaullah

Vice President

Mohammad Asad Ullah

Treasurer

y Ä Ö ]¯¿Ççà Ù Ä óā¯ö ¥çàúāÇāĆā¯« à« āÄ¯ »öúā çº»¥¯ ¤¯ ö¯öú çº āÄ¯ Ä óā¯ö ú ºçÙÙçĒúĻ

2004

Kazi Md. Fazlul Karim

Chairman

Jayanta Kumar Poddar

Vice Chairman

M. Naseemul Hye

Secretary

Md. Selim Reza

Treasurer

ŏ ¯Ù¯¿ āÇçàú ºöçß 2 aG Ä « ú¯öÇ¯ú çº ß¯¯āÇà¿ ĒÇāÄ ¤Çà¯ā GÇàÇúā¯öúķ a¯¥ö¯ā öÇ¯úķ *çđ¯öàß¯àā ÄÇ¿Ä çº»¥Ç Ùú à« «Ç¿àÇā öÇ¯ú çđ¯ö ¯à ¥āß¯àā çº Ä öā¯ö¯« a¯¥ö¯ā öÇ¯ú ¥ā à« óöçº¯úúÇçà Ù development matters under the leadership of Mohammad Asad Ullah. ŏ Nà ƕƜĸƓƘĸƕƓƓƗ āÄ¯ a ÇÙÙ ú¯àā āç āÄ¯ ¤Çà¯ā ÇđÇúÇçà ºā¯ö đ¯āā¯« ¤ę A Ē GÇàÇúāöęķ āç óÙ ¥¯ Çā before the Administrative Development Committee of Secretaries of the Government headed by the then Cabinet Secretary. ŏ ƛāÄ ààĆ Ù *¯à¯ö Ù G¯¯āÇà¿ çº āÄ¯ 2àúāÇāĆā¯ Ä¯Ù« Çà Ć¿Ćúāĸ

2nd ICSB National Award for Corporate Governance Excellence | 2014

LANDMARKS IN ICSB HISTORY ŏ iÄ¯ à¯Ē çº»¥¯ ¤¯ ö¯öú ¯Ù¯¥ā¯« ¤ę āÄ¯ çĆà¥ÇÙ ºçö ƕƓƓƗƎƕƓƓƘĻ A. K. A. Muqtadir Mohammad Sanaullah Mohammad Asad Ullah Md. Abdus Salam y

President Senior Vice President Vice President Treasurer

The other members of the Council were as follows: Muzaffar Ahmed Md. Zahangir Alam Itrat Husain N. G. Chakraborty A F M Shamsudduha Gĸ aÄ »õĆÙ 2úÙ ß ?Ä à Sarwar Azam Khan Feroz Iqbal Faruque Md. Shahid Farooqui Mansur Alam

ŏ iÄ¯ 2àúāÇāĆā¯ çº çßó àę a¯¥ö¯ā öÇ¯ú çº 2à«Ç Ƅ2 a2ƅ ÇàđÇā¯« 2 aG Çà āÄ¯Çö à āÇçà Ù ¥çàđ¯àāÇçà of Company Secretaries at New Delhi, India. Muzaffar Ahmed, the immediate past President, ö¯óö¯ú¯àā¯« āÄ¯ 2àúāÇāĆā¯ ā āÄ¯ ß¯¯āÇà¿ Ä¯Ù« çà =ĆÙę ƖƎƘķ ƕƓƓƗ Çà H¯Ē ¯ÙÄÇĸ Ùçà¿ ĒÇāÄ 2 a2 members, representatives from the Institutes of Corporate Secretaries of Pakistan, Bangladesh à« ?¯àę āā¯à«¯« āÄ¯ ß¯¯āÇà¿ à« ºçöß¯« ŗiÄ¯ 2àā¯öà āÇçà Ù )¯«¯ö āÇçà çº çßó àę a¯¥ö¯ā öÇ¯úŘ Ƅ2) aƅ çà ¿Ùç¤ Ù ¤ úÇúķ ĒÇāÄ ¤öç « ç¤Ó¯¥āÇđ¯ú āç óöçßçā¯ à« «¯đ¯Ùçó āÄ¯ óöçº¯úúÇçà of Company Secretaries in the member countries. ŏ )Çöúā z¯¤úÇā¯ çº āÄ¯ 2àúāÇāĆā¯ Ù Ćà¥Ä¯« Çà N¥āç¤¯ö Ćà«¯ö úĆó¯öđÇúÇçà çº 2āö ā /Ćú Çàĸ

2005

ŏ aĆ¤ßÇúúÇçà çº úĆ¿¿¯úāÇçàú à« ö¯¥çßß¯à« āÇçàú çà Zöçóçú¯« çßó àÇ¯ú ¥ā āç āÄ¯ Government of Bangladesh. ŏ a¯đ¯ö Ù ß¯¯āÇà¿ú Ē¯ö¯ Ä¯Ù« Ćà«¯ö āÄ¯ Ù¯ «¯öúÄÇó çº GçÄ ßß « ú « nÙÙ Ä ĒÇāÄ çßß¯ö¥¯ GÇàÇúā¯öķ A Ē GÇàÇúā¯öķ çßß¯ö¥¯ a¯¥ö¯ā öęķ A Ē a¯¥ö¯ā öę à« ÄÇ¿Ä çº»¥Ç Ùú çº ¤Çà¯ā ÇđÇúÇçà for persuasions of the much-awaited Chartered Secretaries Act and anomalies of the proposed Companies Bill 2004. ŏ ºā¯ö ƔƘ ßçàāÄú Ö¯óā ó¯à«Çà¿ķ çà Ɩ Ć¿Ćúā ƕƓƓƘ āÄ¯ a ÇÙÙ ö¯āĆöà¯« āç āÄ¯ GÇàÇúāöę çº Commerce by the Secretaries Committee of Cabinet Division, Govt. of Bangladesh. ŏ ƜāÄ ààĆ Ù *¯à¯ö Ù G¯¯āÇà¿ çº āÄ¯ 2àúāÇāĆā¯ Ä¯Ù« Çà Ć¿Ćúāĸ ŏ iÄ¯ à¯Ē çº»¥¯ ¤¯ ö¯öú çº āÄ¯ 2àúāÇāĆā¯ ¯Ù¯¥ā¯« ºçö āÄ¯ ā¯öß ƕƓƓƘƎƕƓƓƙ Çà āÄ¯ ƛƓāÄ çĆà¥ÇÙ Meeting as follows: Mohammad Sanaullah President Mohammad Asad Ullah Senior Vice President Md. Abdus Salam Vice President Itrat Husain Treasurer y

The other members of the Council were as follows: Muzaffar Ahmed Md. Zahangir Alam A.K.A. Muqtadir N. G. Chakraborty A F M Shamsudduha Gĸ aÄ »õĆÙ 2úÙ ß ?Ä à Sarwar Azam Khan Feroz Iqbal Faruque Md. Shahid Farooqui Mansur Alam

2nd ICSB National Award for Corporate Governance Excellence | 2014

LANDMARKS IN ICSB HISTORY

2006

ŏ ]¯đÇúÇçà çº aęÙÙ ¤Ćúĸ ŏ iÄ¯ a ÇÙÙ Ē ú ¿ Çà ú¯àā āç āÄ¯ A Ē GÇàÇúāöę ºçö ºĆöāÄ¯ö ¯ė ßÇà āÇçà ú «Çö¯¥ā¯« ¤ę āÄ¯ a¯¥ö¯ā öÇ¯úŔ çßßÇāā¯¯ çº āÄ¯ ¤Çà¯ā ÇđÇúÇçàĸ ŏ ºā¯ö đ¯āāÇà¿ āÄ¯ ÇÙÙ Ē ú ¿ Çà ö¯āĆöà¯« āç āÄ¯ ¤Çà¯ā ÇđÇúÇçà çà ƓƜĸƓƔĸƕƓƓƙ āÄöçĆ¿Ä āÄ¯ Ministry of Commerce for their necessary action. ŏ 2àúāÇāĆā¯ ¥Äçú¯à ú çà¯ çº āÄ¯ úóçàúçö ß¯ß¤¯öú çº āÄ¯ à¿Ù «¯úÄ 2àúāÇāĆā¯ çº óÇā Ù ß öÖ¯ā (BICM). ŏ Nö¿ àÇĞ¯« Ɩö« 2àā¯öà āÇçà Ù )¯«¯ö āÇçà çº çßó àę a¯¥ö¯ā öÇ¯ú Ƅ2) aƅ ß¯¯āÇà¿ Çà Ä Ö ĸ ŏ GçÄ ßß « a à ĆÙÙ Ä ¯Ù¯¥ā¯« ú yÇ¥¯ Zö¯úÇ«¯àā çº āÄ¯ ¿çđ¯öàÇà¿ ¤ç«ę çº āÄ¯ 2àā¯öà āÇçà Ù Federation of Company Secretaries (IFCS). ŏ iÄ¯ a¯¥ö¯ā öÇ¯ú çßßÇāā¯¯ ā Çāú ß¯¯āÇà¿ Ä¯Ù« çà ƓƛĸƓƘĸƕƓƓƙ ö¯āĆöà¯« āÄ¯ a ÇÙÙ āç āÄ¯ A Ē Ministry to make it concise form. ŏ Nö¿ àÇĞ¯« āÄ¯ Ɣúā 2àā¯öà āÇçà Ù çàº¯ö¯à¥¯ çº çßó àę a¯¥ö¯ā öÇ¯ú çà ŗ çöóçö ā¯ G à ¿¯ß¯àāĻ *Ùç¤ Ù Zö ¥āÇ¥¯Ř Çà =ĆÙę ƕƓƓƙ ā Ä Ö aÄ¯ö āçà /çā¯Ùķ ĒÄ¯ö¯ «¯Ù¯¿ ā¯ú ºöçß India, Pakistan, Sri Lanka and Kenyan Institute were present. ŏ 2 aG ā¯ ß Çà çö«¯ö āç ºçÙÙçĒ Ćó āÄ¯ ó¯à«Çà¿ ÇúúĆ¯ çº Ä öā¯ö¯« a¯¥ö¯ā öÇ¯ú ÇÙÙķ ß¯ā ĒÇāÄ GÇàÇúā¯öúķ a¯¥ö¯ā öÇ¯ú à« çāÄ¯ö ÄÇ¿Ä çº»¥Ç Ùú çº «Çºº¯ö¯àā GÇàÇúāöÇ¯ú à« ö¯¿ĆÙ āçöę ¤ç«Ç¯ú «ĆöÇà¿ āÄ¯ »öúā Ä Ùº çº āÄ¯ ę¯ ö Ä¯ «¯« ¤ę GçÄ ßß « « nÙÙ Äĸ ŏ Z óöç¿ö ß çà ƄÇƅ çöóçö ā¯ *çđ¯öà à¥¯Ļ ö¯ Ē¯ çà āÄ¯ öÇ¿Äā āö ¥ÖŁ ƄÇÇƅ Ä à¿Çà¿ çöóçö ā¯ Financial Reporting held in February. ŏ iÄ¯ à¯Ē Nº»¥¯ ¯ ö¯öú çº āÄ¯ 2àúāÇāĆā¯ ¯Ù¯¥ā¯« Çà a¯óā¯ß¤¯ö ºçö āÄ¯ ā¯öß ƕƓƓƙƎƕƓƓƚ ú ºçÙÙçĒúĻ

2 0 07

Mohammad Asad Ullah

President

Itrat Husain

Senior Vice President

Feroz Iqbal Faruque

Vice President

Md. Shahid Farooqui

Treasurer

The other members of the Council were as follows: Muzaffar Ahmed M. S. Alam Mia Mohammad Sanaullah N. G. Chakraborty Md. Abdus Salam Akhter Matin Chaudhury Sarwar Azam Khan M. Naseemul Hye Md. Bazlur Rahman Sikder Md. Selim Reza

ŏ 2à āÄ¯ Ɩö« Ē¯¯Ö çº = àĆ öę ā¯ ß çº 2 a Ä¯ «¯« ¤ę GçÄ ßß « ú « nÙÙ Ä ß¯ā ĒÇāÄ öĸ Mirza Azizul Islam and requested him to enact the CS Bill. ŏ Nà ƔƜĸƓƗĸƕƓƓƚ āÄ¯ a ÇÙÙ ¿ Çà ú¯àā āç āÄ¯ a¯¥ö¯ā öÇ¯ú çßßÇāā¯¯ çº ¤Çà¯ā ÇđÇúÇçà ºöçß āÄ¯ Law Ministry through the Commerce Ministry for their consideration and approval. ŏ 2 a ß «¯ ç¤Ó¯¥āÇçà āç āÄ¯ ¤Çà¯ā a¯¥ö¯ā öę āÄ ā āÄ¯ ÇÙÙ ú¯àā ¤ę āÄ¯ A Ē GÇàÇúāöę Ē ú úç concise that will not serve the purpose of CS Profession. ŏ 2 aG «¯Ù¯¿ āÇçà ß¯ā ĒÇāÄ öĸ GÇöĞ G«ĸ ĞÇĞĆÙ 2úÙ ßķ )Çà à¥¯ «đÇú¯ö āç āÄ¯ ö¯ā Ö¯ö Govt. seeking his help to enact a appropriate Bill for ICSB. ŏ 2 a «¯Ù¯¿ āÇçà ß¯ā ĒÇāÄ āÄ¯ çßß¯ö¥¯ a¯¥ö¯ā öęķ )¯öçÓ Äß¯«ĸ

2nd ICSB National Award for Corporate Governance Excellence | 2014

LANDMARKS IN ICSB HISTORY ŏ iÄ¯ çßß¯ö¥¯ a¯¥ö¯ā öę ¥ ÙÙ¯« ß¯¯āÇà¿ çà ƓƛĸƓƚĸƕƓƓƚ ĒÇāÄ āÄ¯ ÄÇ¿Ä çº»¥Ç Ùú çº GÇàÇúāöę çº Law, Ministry of Commerce and ICSMB delegation to examine the objections on the Bill. The meeting found that there were gross irregularities in the Bill while it was reduced at the instruction of Secretaries Committee. The meeting decided to redraft the Bill and include all fundamentals and basic sections in line with the British, Pakistan and Indian Laws to save the CS Profession. ŏ çßßÇāā¯¯ Ē ú ºçöß¯« āç ß Ö¯ à¯Ē «ö ºā çº a ÇÙÙ ¥çàúāÇāĆā¯« ú ºçÙÙçĒúĻ Mohammad Asad Ullah Mohammad Sanaullah N G Chakraborty The Committee submitted the new draft to the Ministry of Commerce for onward submission to the Law Ministry for vetting. GÇàÇúāöę çº A Ē ö¯āĆöà¯« āÄ¯ ÇÙÙ çà ƓƖĸƔƕĸƕƓƓƚ Ćà«¯ö āÄ¯ āÇāÙ¯ ŗ Ä öā¯ö¯« a¯¥ö¯ā öÇ¯ú Nö«Çà à¥¯ ƕƓƓƚŘĸ ŏ Nö¿ àÇĞ¯« ƔƓāÄ ààÇđ¯öú öę à« H āÇçà Ù çàđ¯àāÇçà ƕƓƓƚ Ćà«¯ö āÄ¯ āÄ¯ß¯ ŗ çöóçö ā¯ *çđ¯öà à¥¯Ļ ¥ÄÇ¯đÇà¿ *Ùç¤ Ù aā à« ö«úŘ Çà Ć¿Ćúā ā à¿ ¤ à«ÄĆ 2àā¯öà āÇçà Ù çàđ¯àāÇçà ¯àāö¯ķ Ä Ö ĸ öĸ ĸ ĸ GÇöĞ G«ĸ ĞÇĞĆÙ 2úÙ ßķ /çàŔ¤Ù¯ «đÇú¯ö GÇàÇúāöę çº )Çà à¥¯ķ ZÙ ààÇà¿ķ Commerce and Post & Telecommunications, Govt. of Bangladesh graced the occasion as Chief Guest and inaugurated the National Convention while Mr. Mohammad Asad Ullah presided over the meeting. ŏ ƕà« çàđç¥ āÇçà çº āÄ¯ 2àúāÇāĆā¯ Ē ú Ä¯Ù« Çà Ć¿Ćúā ā à¿ ¤ à«ÄĆ 2àā¯öà āÇçà Ù çàđ¯àāÇçà Centre. Faruq Ahmad Siddiqi, Chairman, Securities and Exchange Commission (SEC) graced the occasion as Chief Guest. ŏ Ƙ ß¯ß¤¯ö «¯Ù¯¿ āÇçà Ä¯ «¯« ¤ę GçÄ ßß « a à ĆÙÙ Ä ó öāÇ¥Çó ā¯« Çà āÄ¯ ƗāÄ ß¯¯āÇà¿ çº āÄ¯ International Federation of Company Secretaries (IFCS) and 11th Annual Seminar of the 2àúāÇāĆā¯ çº ¯öāÇ»¯« ZĆ¤ÙÇ¥ a¯¥ö¯ā öÇ¯ú çº ?¯àę Ƅ2 Za?ƅ Ä¯Ù« Çà Gçß¤ ú ķ ?¯àę ĸ ŏ 2à āÄ¯ ƗāÄ G¯¯āÇà¿ çº 2) a Ä¯Ù« Çà Ć¿Ćúāķ GçÄ ßß « a à ĆÙÙ Ä ¯Ù¯¥ā¯« ú Zö¯úÇ«¯àā çº āÄ¯ 2àā¯öà āÇçà Ù )¯«¯ö āÇçà çº çßó àę a¯¥ö¯ā öÇ¯ú Ƅ2) aƅ ºçö āÄ¯ ā¯öß ƕƓƓƚƎƕƓƓƛĸ ŏ iÄ¯ à¯Ē çº»¥¯ ¤¯ ö¯öú çº āÄ¯ 2àúāÇāĆā¯ ¯Ù¯¥ā¯« Çà a¯óā¯ß¤¯ö ºçö āÄ¯ ā¯öß ƕƓƓƚƎƕƓƓƛ ú ºçÙÙçĒúĻ

Itrat Husain

President

Feroz Iqbal Faruque

Senior Vice President

Md. Shahid Farooqui

Vice President

M. Naseemul Hye

Treasurer

The other members of the Council were as follows: Muzaffar Ahmed M. S. Alam Mia Mohammad Sanaullah Mohammad Asad Ullah N. G. Chakraborty Md. Abdus Salam Akhter Matin Chaudhury Sarwar Azam Khan Md. Bazlur Rahman Sikder Md. Selim Reza

2nd ICSB National Award for Corporate Governance Excellence | 2014

LANDMARKS IN ICSB HISTORY

2008

ŏ iÄ¯ a¯¥ö¯ā öÇ¯ú çßßÇāā¯¯ ó úú¯« āÄ¯ Ä öā¯ö¯« a¯¥ö¯ā öÇ¯ú Nö«Çà à¥¯ ƕƓƓƚ çà ƔƓĸƓƕĸƕƓƓƛĸ ŏ iÄ¯ çĆà¥ÇÙ çº «đÇúçöú çº āÄ¯ ö¯ i Ö¯ö *çđ¯öàß¯àā ó úú¯« āÄ¯ Nö«Çà à¥¯ óöÇÙ ƙķƕƓƓƛ à« āÄ¯ A Ē GÇàÇúāöę óöçßĆÙ¿ ā¯« āÄ¯ Ä öā¯ö¯« a¯¥ö¯ā öÇ¯ú Nö«Çà à¥¯ ƕƓƓƛ çà =Ćà¯ Ɠƙķ ƕƓƓƛ ºā¯ö a wait of more than ten years. ŏ iÄ¯ * Ğ¯āā¯ HçāÇ»¥ āÇçà ¥çàā ÇàÇà¿ āÄ¯ ú Ç« Nö«Çà à¥¯ Ē ú óĆ¤ÙÇúÄ¯« çà =Ćà¯ Ɣƙķ ƕƓƓƛ ºā¯ö being accented by the Honorable President of Bangladesh. But this Ordinance was cancelled due to our objection for interpolation by the Ministry of Law in several sections of the Ordinance. ŏ ƔƕāÄ ààĆ Ù ¿¯à¯ö Ù ß¯¯āÇà¿ çº āÄ¯ 2àúāÇāĆā¯ Ä¯Ù« Çà Ć¿Ćúāĸ ŏ iÄ¯ à¯Ē çº»¥¯ ¤¯ ö¯öú çº āÄ¯ 2àúāÇāĆā¯ ¯Ù¯¥ā¯« ºçö āÄ¯ ā¯öß ƕƓƓƛƎƕƓƓƜ ö¯ ú ºçÙÙçĒúĻ Mohammad Asad Ullah

President

Feroz Iqbal Faruque

Senior Vice President

Md. Shahid Farooqui

Vice President

M. Naseemul Hye

Treasurer

ŏ iÄ¯ çāÄ¯ö ß¯ß¤¯öú çº āÄ¯ çĆà¥ÇÙ Ē¯ö¯ ú ºçÙÙçĒúĻ Muzaffar Ahmed M. S. Alam Mia Mohammad Sanaullah Itrat Husain N G Chakraborty Md. Abdus Salam Akhter Matin Chaudhury Sarwar Azam Khan Md. Bazlur Rahman Sikder Md. Selim Reza ŏ aāöçà¿ ç¤Ó¯¥āÇçà Ē ú ö Çú¯« ¤ę 2 aG āç ¥ à¥¯Ù āÄ¯ Nö«Çà à¥¯ à« āç ¯à ¥ā à¯Ē Nö«Çà à¥¯ amending the interpolated provisions of the Ordinance. ŏ Nà ƕƛ ¯¥¯ß¤¯ö ƕƓƓƛ āÄ¯ çĆà¥ÇÙ çº «đÇú¯öú óóöçđ¯« āÄ¯ ß¯à«¯« Nö«Çà à¥¯ à« ú¯àā Çā āç the Ministry of Law. But this Ordinance was not promulgated by the Ministry of law and returned to the Ministry of Commerce with irresponsible remarks on 14 January 2009 and the said Ordinance died in this way.

2009

ŏ 2 aG «¯Ù¯¿ āÇçà Ä¯ «¯« ¤ę GçÄ ßß « ú « nÙÙ Ä ß¯ā ĒÇāÄ GçÄ ßß « ) öĆõ ?Ä à Çà February ŏ Z öāÇ¥Çó ā¯« Çà āÄ¯ ö¯¯ö ) Çö Çà Ä Ö nàÇđ¯öúÇāęĸ ŏ ƔƖāÄ ààĆ Ù ¿¯à¯ö Ù ß¯¯āÇà¿ çº āÄ¯ 2àúāÇāĆā¯ Ä¯Ù« Çà Ć¿Ćúāĸ ŏ iÄ¯ a ¥ā »Ù¯ ¿ Çà ßçđ¯« ºçöĒ ö« à« ú¯àā āç āÄ¯ ¤Çà¯ā «ÇđÇúÇçà çà ƓƘĸƓƛĸƕƓƓƜ ú Chartered Secretaries Bill 2009. ŏ Nà ƔƓĸƓƛĸƕƓƓƜ āÄ¯ ¤Çà¯ā óóöçđ¯« āÄ¯ ÇÙÙ à« ú¯àā Çā āç āÄ¯ A Ē GÇàÇúāöę ºçö đ¯āāÇà¿ çà ƓƚĸƓƜĸƕƓƓƜ ŏ iÄ¯ à¯Ē çº»¥¯ ¤¯ ö¯öú çº āÄ¯ 2àúāÇāĆā¯ ¯Ù¯¥ā¯« Çà Ć¿Ćúā ƕƙķ ºçö āÄ¯ ā¯öß ƕƓƓƜƎƕƓƔƓ ú ºçÙÙçĒúĻ Mohammad Asad Ullah

President

Md. Shahid Farooqui

Senior Vice President

N. G. Chakraborty

Vice President

M. Naseemul Hye

Treasurer

2nd ICSB National Award for Corporate Governance Excellence | 2014

LANDMARKS IN ICSB HISTORY ŏ 2 aG «¯Ù¯¿ āÇçà Ä¯ «¯« ¤ę GçÄ ßß « ú « nÙÙ Ä ß¯ā ĒÇāÄ GçÄ ßß « ) öĆõ ?Ä à Çà February ŏ Z öāÇ¥Çó ā¯« Çà āÄ¯ ö¯¯ö ) Çö Çà Ä Ö nàÇđ¯öúÇāęĸ ŏ ƔƖāÄ ààĆ Ù ¿¯à¯ö Ù ß¯¯āÇà¿ çº āÄ¯ 2àúāÇāĆā¯ Ä¯Ù« Çà Ć¿Ćúāĸ ŏ iÄ¯ a ¥ā »Ù¯ ¿ Çà ßçđ¯« ºçöĒ ö« à« ú¯àā āç āÄ¯ ¤Çà¯ā «ÇđÇúÇçà çà ƓƘĸƓƛĸƕƓƓƜ ú Chartered Secretaries Bill 2009. ŏ Nà ƔƓĸƓƛĸƕƓƓƜ āÄ¯ ¤Çà¯ā óóöçđ¯« āÄ¯ ÇÙÙ à« ú¯àā Çā āç āÄ¯ A Ē GÇàÇúāöę ºçö đ¯āāÇà¿ çà ƓƚĸƓƜĸƕƓƓƜ ŏ iÄ¯ à¯Ē çº»¥¯ ¤¯ ö¯öú çº āÄ¯ 2àúāÇāĆā¯ ¯Ù¯¥ā¯« Çà Ć¿Ćúā ƕƙķ ºçö āÄ¯ ā¯öß ƕƓƓƜƎƕƓƔƓ ú ºçÙÙçĒúĻ Mohammad Asad Ullah

President

Md. Shahid Farooqui

Senior Vice President

N. G. Chakraborty

Vice President

M. Naseemul Hye

Treasurer

The other members of the Council were as follows: A. K. A. Muqtadir Mohammad Sanaullah Itrat Husain Gĸ aÄ »õĆÙ 2úÙ ß ?Ä à Md. Abdus Salam Akhter Matin Chaudhury Mansur Alam Md. Selim Reza Md. Monirul Alam S. Abdur Rashid

2010

y iÄ¯ ÇÙÙ »à ÙÙę ó úú¯« ¤ę āÄ¯ ¤Çà¯ā çà ƔƘĸƓƕĸƕƓƔƓĸ y Göĸ GçÄ ßß « ) öĆÖ ?Ä àķ /çàŔ¤Ù¯ GÇàÇúā¯ö ºçö çßß¯ö¥¯ óÙ ¥¯« āÄ¯ Ä öā¯ö¯« a¯¥ö¯ā öÇ¯ú Bill 2010 before the Parliament. y

Mohammad Asad Ullah accompanied by Mohammad Sanaullah joined the meeting of Parliamentary Committee of Ministry of Commerce second week of May and placed strong arguments to amend certain provisions and to pass the same in the National Parliament.

y iÄ¯ H āÇçà Ù Z öÙÇ ß¯àā çº à¿Ù «¯úÄ ó úú¯« āÄ¯ Ä öā¯ö¯« a¯¥ö¯ā öÇ¯ú ¥āƎƕƓƔƓ çà =Ćà¯ ƚķ 2010. y

Mohammad Asad Ullah President and Mohammad Sanaullah Past President of the Institute briefed the representatives of print and electronic media about the features of the Chartered Secretaries Act-2010 at the press conference on June 12 at Dhaka Reporters Unity.

Dhaka Regional Chapter organized a grand Celebration at Spectra Convention Centre, Gulshan, Dhaka on June 12. A good number of members including founding members of the institute participated the program.

y iÄ¯ * Ğ¯āā¯ HçāÇ»¥ āÇçà ¥çàā ÇàÇà¿ āÄ¯ Ä öā¯ö¯« a¯¥ö¯ā öÇ¯ú ¥ā Ē ú óĆ¤ÙÇúÄ¯« çà =Ćà¯ Ɣƙĸ y

Conversion of the Institute as a statutory body under the Chartered Secretaries Act 2010, ¯ºº¯¥āÇđ¯ ºöçß =Ćà¯ Ɣƙĸ

y 2 a çö¿ àÇĞ¯« H āÇçà Ù çàđ¯àāÇçà ƕƓƔƓ çà āÄ¯ āÄ¯ß¯ çº ŗ Ä öā¯ö¯« a¯¥ö¯ā öÇ¯ú ¥ā Ļ H¯Ē Çß¯àúÇçà Çà Zöçº¯úúÇçà Ù ė¥¯ÙÙ¯à¥¯Ř ā à¿ ¤ à«ÄĆ 2àā¯öà āÇçà Ù çàđ¯àāÇçà ¯àāö¯ĸ GĆÄ ßß « ) öĆÖ ?Ä à GZķ /çàŔ¤Ù¯ GÇàÇúā¯ö ºçö çßß¯ö¥¯ķ *çđāĸ çº à¿Ù «¯úÄ Ē ú āÄ¯ ÄÇ¯º Guest while Advocate Lutful Hye MP, Chairman, Parliamentary Standing Committees for

2nd ICSB National Award for Corporate Governance Excellence | 2014

LANDMARKS IN ICSB HISTORY Ministry of Commerce National Parliament was the Special Guest under the Chairmanship of Mohammad Asad Ullah. y Ɩö« çàđç¥ āÇçà çº āÄ¯ 2àúāÇāĆā¯ Ē ú Ä¯Ù« çà Ć¿Ćúā ƚķ ā à¿ ¤ à«ÄĆ 2àā¯öà āÇçà Ù çàđ¯àāÇçà ¯àāö¯ĸ ööÇúā¯ö aÄ »õĆ¯ Äß¯«ķ GZ /çàŔ¤Ù¯ GÇàÇúā¯ö ºçö A Ēķ =ĆúāÇ¥¯ à« Parliamentary Affairs, Govt. of Bangladesh graced the ceremony as the Chief Guest and Feroz Ahmed Former Secretary, Ministry of Commerce was the Special Guest. y

The Council of the Institute conferred and awarded the Honorary Membership of the Institute ĒÇāÄ *çÙ« G¯« Ù āç āÄ¯ ºçÙÙçĒÇà¿ àÇà¯ «Ç¿àÇā öÇ¯ú ºçö āÄ¯Çö úÇ¿àÇ»¥ àā ¥çàāöÇ¤ĆāÇçà āçĒ ö«ú āÄ¯ development of the profession of Chartered Secretaries in Bangladesh. Muhammad Faruk Khan, MP

Commerce Minister

ööÇúā¯ö aÄ »õĆ¯ Äß¯«

GÇàÇúā¯ö ºçö A Ē ķ =ĆúāÇ¥¯ Ń Z öÙÇ ß¯àā öę ºº Çöú

Barrister Moudud Ahmed, MP

)çöß¯ö GÇàÇúā¯ö ºçö A Ē ķ =ĆúāÇ¥¯ Ń Z öÙÇ ß¯àā öę ºº Çöú

Dr. A B Mirza Md. Azizul Islam

Former Adviser to Caretaker Govt.

Dr. Hossain Zillur Rahman

Former Adviser to Caretaker Govt.

Md. Ghulam Hussain

Secretary, Ministry of Commerce

Suhel Ahmed Choudhury

Former Secretary, Ministry of Commerce

Feroz Ahmed

Former Secretary, Ministry of Commerce

In recognition of the outstanding contributions towards the enactment, the Members of the 2àúāÇāĆā¯ ¿ đ¯ ŗZöçº¯úúÇçà Ù ė¥¯ÙÙ¯à¥¯ Ē ö«Ř ĒÇāÄ *çÙ« G¯« Ù āç GçÄ ßß « ú « nÙÙ Äĸ

14th Annual General Meeting of the Institute held on August 21.

1st Council election of ICSB held under the provision of the newly enacted Chartered Secretaries Act 2010.

y Ɣúā çĆà¥ÇÙ çº āÄ¯ 2 a Ē ú ºçöß¯« ĒÇāÄ ƔƖ ¯Ù¯¥ā¯« ß¯ß¤¯öú à« Ƙ *çđ¯öàß¯àā àçßÇà¯¯úķ ú councilors. Elected Members A. K. A. Muqtadir Mohammad Sanaullah Md. Shahid Farooqui Mohammad Asad Ullah Md. Selim Reza M. Naseemul Hye Itrat Husain N. G. Chakraborty Md. Monirul Alam Md. Abdus Salam Md. Akter Hossain Sannamat

a » ö ] Äß à Gopal Chandra Debnath

Government Nominees –

G«ĸ aÄ ĒÖ ā ÙÇ z ö¯úÇķ =çÇàā a¯¥ö¯ā öęķ GÇàÇúāöę çº çßß¯ö¥¯ Moinul Islam, Joint Secretary, Ministry of Finance Nasreen Begum, Joint Secretary, Ministry of Law, Justice & Parliamentary Affairs Mansur Alam, Member, Securities and Exchange Commission Ahmedur Rahim, Registrar, Registrar of Joint Stock Companies & Firms

2nd ICSB National Award for Corporate Governance Excellence | 2014

LANDMARKS IN ICSB HISTORY y

2011

1st Council Meeting of the Institute of Chartered Secretaries of Bangladesh (ICSB) was held on a¯óā¯ß¤¯ö ƔƗĸ iÄ¯ çĆà¥ÇÙçöú ¯Ù¯¥ā¯« āÄ¯ ºçÙÙçĒÇà¿ çº»¥¯ ¤¯ ö¯öú çº āÄ¯ 2àúāÇāĆā¯ ºçö āÄ¯ ā¯öß 2010-2013: Mohammad Sanaullah

President

Md. Shahid Farooqui

Senior Vice President

M. Naseemul Hye

Vice President

Md. Monirul Alam

Treasurer

For want of an approved Chartered Secretaries Regulations, Regulation Committee and Examination Committee formed in February under the leadership of the President of the Institute.

ŏ iÄ¯ /çàŔ¤Ù¯ GÇàÇúā¯ö ºçö çßß¯ö¥¯ķ GĆÄ ßß « ) öĆÖ ?Ä à GZķ đÇúÇā¯« āÄ¯ 2àúāÇāĆā¯ çà )¯¤öĆ öę Ɩ à« Ù Ćà¥Ä¯« āÄ¯ çº»¥Ç Ù Ē¯¤úÇā¯ çº 2 a ƄĒĒĒĸÇ¥ú¤ĸ¯«Ćĸ¤«ƅĸ ŏ )Çöúā āÇß¯ 2àúāÇāĆā¯ Çà¥ÙĆ«¯« Çà āÄ¯ à āÇçà Ù ¤Ć«¿¯ā ÙÙç¥ āÇçàĸ ŏ iĒç à¯Ē óöçÓ¯¥āú çº āÄ¯ 2àúāÇāĆā¯ Çà¥ÙĆ«¯« Çà āÄ¯ «¯đ¯Ùçóß¯àā óöç¿ö ßß¯ çº āÄ¯ *çđ¯öàß¯àāĸ ŏ )Çöúā āÇß¯ āÄ¯ 2àúāÇāĆā¯ Çà¥ÙĆ«¯« Çà āÄ¯ A Ē ]¯ºçöß çßßÇāā¯¯ çº GÇàÇúāöę çº çßß¯ö¥¯ĸ ŏ 2àúāÇāĆā¯ Çà¥ÙĆ«¯« Çà «Çºº¯ö¯àā çßßÇāā¯¯ú çº āÄ¯ *çđ¯öàß¯àā ú ß¯ß¤¯ö āç ó öāÇ¥Çó ā¯ Çà āÄ¯ process of enactment of new Companies Act and review/amend/ laws like, Trade Organization ƔƜƛƔķ aç¥Ç¯āÇ¯ú ]¯¿Çúāö āÇçà ¥ā ƔƛƙƓ à« iö «¯ Nö¿ àÇĞ āÇçà ]ĆÙ¯ú ƔƜƜƗ à« ºö ß¯ à¯Ē Ù Ē on MLM. ŏ iÄ¯ çĆà¥ÇÙ óóöçđ¯« āÄ¯ 2àúāÇāĆā¯Ŕú a¯öđÇ¥¯ ]ĆÙ¯úĸ ŏ iÄ¯ Ä öā¯ö¯« a¯¥ö¯ā öÇ¯ú ]¯¿ĆÙ āÇçàú ƕƓƔƔ óöçßĆÙ¿ ā¯« à« óĆ¤ÙÇúÄ¯« Çà āÄ¯ Nº»¥Ç Ù * Ğ¯āā¯ĸ ŏ Nö¿ àÇĞ¯« ºĆÙÙ « ę Z óöç¿ö ß ºçö āÄ¯ ß¯ß¤¯öú çº āÄ¯ 2àúāÇāĆā¯ çà āÄ¯ ºçÙÙçĒÇà¿ āçóÇ¥ú Ļ - Finance Act 2011 and its implications. - Convention against Corruption – Bangladesh Perspective. - Chartered Secretaries Act 2010 and Chartered Secretaries Regulations 2011. ŏ Nö¿ àÇĞ¯« « ę Ùçà¿ óöçº¯úúÇçà Ù ĒçöÖúÄçó çà āÄ¯ ºçÙÙçĒÇà¿ āçóÇ¥ú ā āÄ¯ çàº¯ö¯à¥¯ / ÙÙķ ÄÇāā ¿çà¿ Ä ß¤¯ö çº çßß¯ö¥¯ à« 2à«Ćúāöę çà ¯¥¯ß¤¯ö Ɣƚĸ - Chartered Secretary as a Challenging Profession. - Management of Company Meetings. ŏ iÄ¯ 2àúāÇāĆā¯ «çóā¯« à¯Ē Ùç¿ç ú ó öā çº Çāú ¤ö à«Çà¿ óöç¿ö ßĸ iÄÇú Ē ú óóöçđ¯« ¤ę āÄ¯ ß¯ß¤¯öú ā āÄ¯ »öúā *G çº āÄ¯ 2àúāÇāĆā¯ĸ ŏ aĸ ĸ ] úÄÇ« Ń ĸ ?ĸ Gĸ GĆúÄ»õĆö ] Äß à Ē¯ö¯ ¯Ù¯¥ā¯« ú çĆà¥ÇÙ G¯ß¤¯öú Çà óÙ ¥¯ çº ĸ ?ĸ ĸ Muqtadir & Akter Hossain Sannamat.

2012

ŏ Nö¿ àÇĞ¯« « ę Ùçà¿ ĒçöÖúÄçó çà ºº¯¥āÇđ¯ Ć«Çā çßßÇāā¯¯ çà =Ćà¯ ƕĸ ŏ āĒç « ę Ùçà¿ Z óöç¿ö ß çà ŗ çöóçö ā¯ *çđ¯öà à¥¯ ç ö« A¯ «¯öúÄÇóŘ Ē ú çö¿ àÇĞ¯« ºçö Chartered Secretaries in collaboration with International Finance Corporation ( IFC) on April ƚĵƛĸ ŏ 2 a ¯Ù¯¥ā¯« ºĆÙÙ G¯ß¤¯ö çº āÄ¯ çöóçö ā¯ a¯¥ö¯ā öÇ¯ú 2àā¯öà āÇçà Ù úúç¥Ç āÇçà Ƅ a2 ƅĸ ŏ iÄ¯ çĆà¥ÇÙ ¯úā ¤ÙÇúÄ¯« a¯¥ö¯ā öÇ Ù aā à« ö« ç ö«ĸ ŏ nà«¯ö āÄ¯ Ä Çöß àúÄÇó çº GçÄ ßß « ú « nÙÙ Äķ «¯đ¯Ùçó¯« à« óĆ¤ÙÇúÄ¯« āĒç a¯¥ö¯ā öÇ Ù Standards (i) General Meetings and (ii) Board Meeting. ŏ ¯đ¯Ùçó¯« à« óĆ¤ÙÇúÄ¯« ZöÇđ ā¯ Zö ¥āÇ¥¯ ¿ĆÇ«¯ÙÇà¯úĸ

2nd ICSB National Award for Corporate Governance Excellence | 2014

LANDMARKS IN ICSB HISTORY ŏ ]¯¥çßß¯à« āÇçà óÙ ¥¯« āç āÄ¯ Ä Çöß àķ à¿Ù «¯úÄ a¯¥ĆöÇāÇ¯ú à« ė¥Ä à¿¯ çßßÇúúÇçà (BSEC) for updating Corporate Governance Guideline including the profession of Chartered Secretaries. ŏ çßóö¯Ä¯àúÇđ¯ óöçóçú Ù ¿Çđ¯à āç āÄ¯ çßß¯ö¥¯ a¯¥ö¯ā öę ºçö āÄ¯ Çà¥ÙĆúÇçà çº ŗāÄ¯ öçÙ¯ çº Ä öā¯ö¯« ĵ çßó àę a¯¥ö¯ā öę óöçº¯úúÇçàŘ Çà āÄ¯ à¯Ē çßó àÇ¯ú ¥āĸ ŏ 2úúĆ¯« ÙÇ¥¯àú¯ ºçö Ä öā¯ö¯« a¯¥ö¯ā öÇ¯ú Çà ZöÇđ ā¯ Zö ¥āÇ¥¯ĸ ŏ 2àāöç«Ć¥¯« Œ ç«¯ çº çà«Ć¥āŔ ºçö āÄ¯ G¯ß¤¯öú à« a¯àÇçö G à ¿¯ß¯àā çº 2 a ĸ ŏ óóöçđ¯« G¯ß¤¯öú *ö āĆÇāęķ 2àúĆö à¥¯ķ ¯à¯đçÙ¯àā )Ćà«ĸ ŏ 2àúāÇāĆā¯ úĆ¥¥¯úúºĆÙÙę çö¿ àÇĞ¯« āÄ¯ ƗāÄ H āÇçà Ù çàđ¯àāÇçà çà ¯¥¯ß¤¯ö ƕƔ çà āÄ¯ āÄ¯ß¯ çº ŗGç«¯öàÇĞ āÇçà çº āÄ¯ çßó àÇ¯ú ¥ā Ļ àÄ à¥Çà¿ *çđ¯öàÇà¿ ė¥¯ÙÙ¯à¥¯Ř ā à¿ ¤ à«ÄĆ 2àā¯öà āÇçà Ù çàđ¯àāÇçà ¯àāö¯ĸ *ÄĆÙ ß GĆÄ ßß « \Ć «¯ö GZ /çàŔ¤Ù¯ GÇàÇúā¯ö ºçö çßß¯ö¥¯ķ Ē ú āÄ¯ ÄÇ¯º *Ć¯úā ĒÄÇÙ¯ GĆÄ ßß « ) öĆÖ ?Ä à GZķ /çàŔ¤Ù¯ GÇàÇúā¯ö ºçö ÇđÇÙ Aviation and Tourism was the Special Guest under the Chairmanship of Mohammad Sanaullah. ŏ ƗāÄ çàđç¥ āÇçà çº āÄ¯ 2àúāÇāĆā¯ Ē ú Ä¯Ù« Çà ¯¥¯ß¤¯ö ƕƕķ ā à¿ ¤ à«ÄĆ 2àā¯öà āÇçà Ù çàđ¯àāÇçà ¯àāö¯ĸ ööÇúā¯ö aÄ »õĆ¯ Äß¯«ķ GZ /çàŔ¤Ù¯ GÇàÇúā¯ö ºçö A Ēķ =ĆúāÇ¥¯ à« Parliamentary Affairs, graced the ceremony as the Chief Guest and Suhel Ahmed Choudhury Former Secretary, Ministry of Commerce was the Special Guest.

2013

ŏ Nö¿ àÇĞ¯« Z óöç¿ö ß çà āÄ¯ ºçÙÙçĒÇà¿ āĒç ¥çàā¯ßóçö öę āçóÇ¥ú ā āÄ¯ çàº¯ö¯à¥¯ / ÙÙķ Business Faculty of Dhaka University on March 23. - Application of IFRS in preparation of Financial Statements - Chartered Secretary in Practice: New Perspective ŏ ƗāÄ ààĆ Ù *¯à¯ö Ù G¯¯āÇà¿ çº āÄ¯ 2àúāÇāĆā¯ Ē ú Ä¯Ù« çà a¯óā¯ß¤¯ö ƚĸ ŏ Ù¯¥āÇçà çº āÄ¯ ƕà« çĆà¥ÇÙ Ä¯Ù« çà a¯óā¯ß¤¯ö ƚĸ ŏ ƕà« çĆà¥ÇÙ çº āÄ¯ 2 a Ē ú ºçöß¯« ºöçß ƔƖ ¯Ù¯¥ā¯« çĆà¥ÇÙçöú à« Ƙ *çđ¯öàß¯àā àçßÇà¯¯úĸ Elected Members Mohammad Asad Ullah Itrat Husain Md. Shahid Farooqui Mohammad Sanaullah Hossain Sadat A .T. M. Tahmiduzzaman Md. Monirul Alam Md. Azizur Rahman Md. Selim Reza N. G. Chakraborty Mohammad Bul Hassan M. Naseemul Hye M. Nurul Alam Government Nominees –

G«ĸ aÄ ĒÖ ā ÙÇ z ö¯úÇķ =çÇàā a¯¥ö¯ā öęķ GÇàÇúāöę çº çßß¯ö¥¯ Md. Ekhlasur Rahman, Joint Secretary, Ministry of Finance Nasreen Begum, Additional Secretary, Ministry of Law, Justice & Parliamentary Affairs Prof. Md. Helal Uddin Nizami, Commissioner, BSEC Bijon Kumar Baishya, Registrar, Registrar of Joint Stock Companies & Firms

2nd ICSB National Award for Corporate Governance Excellence | 2014

LANDMARKS IN ICSB HISTORY ŏ ā āÄ¯ ƕà« çĆà¥ÇÙ G¯¯āÇà¿ çº 2 a Ē ú Ä¯Ù« çà a¯óā¯ß¤¯ö Ɣƕķ āÄ¯ çĆà¥ÇÙçöú ¯Ù¯¥ā¯« āÄ¯ ºçÙÙçĒÇà¿ çº»¥¯ ¤¯ ö¯öú çº āÄ¯ 2àúāÇāĆā¯ ºçö āÄ¯ ā¯öß ƕƓƔƖƎƕƓƔƙĻ Mohammad Asad Ullah

President

M. Naseemul Hye

Senior vice President

Md. Monirul Alam

vice President

Mohammad Bul Hassan

Treasurer

ŏ 2àúāÇāĆā¯ Çà ¥çÙÙ ¤çö āÇçà ĒÇāÄ āÄ¯ 2àā¯öà āÇçà Ù )Çà à¥¯ çöóçö āÇçà Ƅ2) ƅ çö¿ àÇĞ¯« « ę Ùçà¿ ĒçöÖúÄçó çà çöóçö ā¯ *çđ¯öà à¥¯ ÇúóĆā¯ à« G¯«Ç āÇçà ]¯úçÙĆāÇçà çà N¥āç¤¯ö ƕƙ ā /çā¯Ù Sonargaon, Dhaka ŏ Nö¿ àÇĞ¯« « ę Ùçà¿ óöçº¯úúÇçà Ù ĒçöÖúÄçó çà āÄ¯ ºçÙÙçĒÇà¿ āçóÇ¥ú ā āÄ¯ çàº¯ö¯à¥¯ / ÙÙķ ÄÇāā ¿çà¿ Ä ß¤¯ö çº çßß¯ö¥¯ à« 2à«Ćúāöę Ä¯Ù« çà ¯¥¯ß¤¯ö Ɣƚĸ - Chartered Secretary as a Challenging Profession - Management of Company Meetings

2014

ŏ Z óöç¿ö ß Ä¯Ù« çà à¿Ù «¯úÄ A ¤çĆö ¥ā Ɛ ß¯à«¯« Çà ƕƓƔƖ ā āÄ¯ çàº¯ö¯à¥¯ / ÙÙķ Business Faculty of Dhaka University on May 3. ŏ nó« ā¯« çº 2 a z¯¤úÇā¯ĸ ŏ iÄ¯ ƗāÄ ààĆ Ù *¯à¯ö Ù G¯¯āÇà¿ çº āÄ¯ 2àúāÇāĆā¯ Ē ú Ä¯Ù« çà =ĆÙę Ɣƕĸ ŏ iÄ¯ ßóĆú Ń Nº»¥¯ çº āÄ¯ 2àúāÇāĆā¯ Ē ú úÄÇºā¯« āç Z «ß AÇº¯ içĒ¯ö ƄƚāÄ Ń ƛāÄ ½ççöƅķ ? ĞÇ Nazrul Islam Avenue, in September. ŏ ¥õĆÇö¯« ƔƓ ? āÄ Ù à« ā ºā ¤à ¿ ö Ä Ö ºçö ¥çàúāöĆ¥āÇçà çº āÄ¯ 2àúāÇāĆā¯Ŕú Nº»¥¯ à« ßóĆúĸ ŏ Ćā¥Ä à¿Ù àÖ AÇßÇā¯« ú à¥āÇçà¯« Aç à iÖĸ ƛ öçö¯ ºçö óĆö¥Ä úÇà¿ āÄ¯ Ù à«ĸ ŏ ]¯đÇú¯« º¯¯ úāöĆ¥āĆö¯ çº Ä öā¯ö¯« a¯¥ö¯ā öę çĆöú¯ à« Çàāöç«Ć¥¯« ¯đ¯Ùçóß¯àā Ä ö¿¯ĸ ŏ iÄ¯ 2àúāÇāĆā¯ »öúā āÇß¯ çö¿ àÇĞÇà¿ ŗ2 a H āÇçà Ù Ē ö« ºçö çöóçö ā¯ *çđ¯öà à¥¯ ė¥¯ÙÙ¯à¥¯ ƕƓƔƖŘĸ ŏ )çöß¯« =Ćöę ç ö« ºçö 2 a H āÇçà Ù Ē ö« ºçö ¯đ ÙĆ āÇçà çº çöóçö ā¯ *çđ¯öà à¥¯ ė¥¯ÙÙ¯à¥¯ Award 2013. ŏ Nà ¯¥¯ß¤¯ö Ɨķ 2 a Ē ö«¯« ƔƘ ÙÇúā¯« çßó àÇ¯ú ºçö ¤¯úā óö ¥āÇ¥¯ú Çà ¥çöóçö ā¯ ¿çđ¯öà à¥¯ Çà āÄ¯Çö ö¯úó¯¥āÇđ¯ çßó àÇ¯ú Ä¯Ù« ā 2 ķ Ä Ö Göĸ G GĆÄÇāÄķ /çàŔ¤Ù¯ )Çà à¥¯ GÇàÇúā¯ö Ä à«¯« çđ¯ö āÄ¯ āöçóÄę à« ¥¯öāÇ»¥ ā¯ú ßçà¿ āÄ¯ ĒÇàà¯öú ĒÄÇÙ¯ GçÄ ßß « ú « nÙÙ Ä chaired the function. ŏ 2 a çö¿ àÇĞ¯« ƘāÄ H āÇçà Ù çàđ¯àāÇçà ƕƓƔƗ çà āÄ¯ āÄ¯ß¯ çº ŗ çöóçö ā¯ A¯ «¯öúÄÇóĻ àÄ à¥Çà¿ *çđ¯öàÇà¿ ė¥¯ÙÙ¯à¥¯Ř ā à¿ ¤ à«ÄĆ 2àā¯öà āÇçà Ù çàđ¯àāÇçà ¯àāö¯ çà ¯¥¯ß¤¯ö Ƙķ ƕƓƔƗ ĒÄ¯ö¯ Göĸ içº ę¯Ù Äß¯«ķ /çàŔ¤Ù¯ çßß¯ö¥¯ GÇàÇúā¯ö Ē ú āÄ¯ ÄÇ¯º *Ć¯úā while Mohamad Asad Ullah chaired the function . ŏ ƘāÄ çàđç¥ āÇçà çº āÄ¯ 2àúāÇāĆā¯ ¤¯Çà¿ çö¿ àÇĞ¯« çà ¯¥¯ß¤¯ö Ƙ ā à¿ ¤ à«ÄĆ 2àā¯öà āÇçà Ù Convention Centre successfully.

2015

ŏ Nö¿ àÇĞ¯« Z óöç¿ö ßß¯ ºçö āÄ¯ G¯ß¤¯öú çº āÄ¯ 2àúāÇāĆā¯ çà āÄ¯ ºçÙÙçĒÇà¿ āçóÇ¥úĻ - Chartered Secretaries as a Career - The Finance Act-2015

Ǝ Ä Ö aāç¥Ö ė¥Ä à¿¯ ƄAÇúāÇà¿ƅ ]¯¿ĆÙ āÇçàúķ ƕƓƔƘ

ŏ iÄ¯ ƘāÄ ààÇđ¯öú öę çº à ¥āß¯àā çº Ä öā¯ö¯« a¯¥ö¯ā öÇ¯ú ¥ā Ɛ ƕƓƔƓ Ē ú ¥¯Ù¯¤ö ā¯« çà =Ćà¯ Ɣƙ ŏ iÄ¯ ƘāÄ ààĆ Ù *¯à¯ö Ù G¯¯āÇà¿ çº āÄ¯ 2àúāÇāĆā¯ Ē ú Ä¯Ù« çà =ĆÙę Ɯķ ƕƓƔƘĸ ŏ iÄ¯ 2àúāÇāĆā¯ Çú çö¿ àÇĞÇà¿ ŗƕà« 2 a H āÇçà Ù Ē ö« ºçö çöóçö ā¯ *çđ¯öà à¥¯ ė¥¯ÙÙ¯à¥¯ ƕƓƔƗŘ çà Hçđ¯ß¤¯ö ƔƓķ ƕƓƔƕƘ ā *ö à« ÙÙöççßķ Z à Z ¥Ç»¥ açà ö¿ çà /çā¯Ùķ Ä Ö ĸ ŏ )çöß¯« =Ćöę ç ö« ºçö ŗƕà« 2 a H āÇçà Ù Ē ö« ºçö çöóçö ā¯ *çđ¯öà à¥¯ ė¥¯ÙÙ¯à¥¯ Ē ö« ƕƓƔƗŘĸ

2nd ICSB National Award for Corporate Governance Excellence | 2014

MEMORABLE MOMENTS OF THE INSTITUTE

The 1st Convocation of the Institute

The 3rd IFCS Meeting

Meeting with Dr. A.B. Mirza Md. Azizul Islam Advisor, Finance, Planning & Commerce, Post & Telecommunications in 2007 with the Delegates of ICSMB headed by its President Mohammad Asad Ullah FCS

2nd ICSB National Award for Corporate Governance Excellence | 2014

MEMORABLE MOMENTS OF THE INSTITUTE

1st Anniversary of ICSB after enactment of Chartered Secretaries Act-2010

ICSB Delegates Meet with BSEC Chairman Prof. Dr. M. Khairul Hossain

ICSB Delegates Meet with Senior Commerce Secretary Hedayetullah Al Mamoon, ndc

2nd ICSB National Award for Corporate Governance Excellence | 2014

MEMORABLE MOMENTS OF THE INSTITUTE

Muhammad Faruk Khan, MP the then Honorable Commerce Minister launching the website of ICSB

President of ICSB is handing over a Crest to Honorable Commerce Minister Tofail Ahmed MP in 5th Convention of ICSB

Honorable Commerce Minister Tofail Ahmed MP along with other Members inaugurating the 5th Convention Souvenir

2nd ICSB National Award for Corporate Governance Excellence | 2014

MEMORABLE MOMENTS OF THE INSTITUTE

President of ICSB is handing over a Crest to & & 2 &VI퓨R Siddique, VC, Dhaka University in 5th Convocation of ICSB

Presence of Foreign Delegates in 5th Convocation of ICSB

A view of Crests for ICSB National Award for Corporate Governance Excellence 2013

2nd ICSB National Award for Corporate Governance Excellence | 2014

MEMORABLE MOMENTS OF THE INSTITUTE Honorable Finance Minister Abul Maal A. Muhith MP along with others inagurating the CGA Souvenir 2013

Honorable Finance Minister Abul Maal A. Muhith MP is handing over a Crest to a Winning Company

Honorable Finance Minister Abul Maal A. Muhith MP is handing over a Crest & (IVXM퓨GEXI XS E Winning Company

2nd ICSB National Award for Corporate Governance Excellence | 2014

ARTICLES

ARTICLE - 1

FOREIGN CORRUPT PRACTICES ACT AND WHISTLEBLOWERS REWARDS - M Nurul Alam FCS Introduction The Foreign Corrupt Practices Act (FCPA) prohibits bribery of foreign SÇ½GMEPW F] 9 ERH JSVIMKR GSQTERMIW PMWXIH SR XLI 9 WIGYVMXMIW I\GLERKI 8LI +(5& EPWS VIUYMVIW WYGL GSQTERMIW XS QEMRXEMR EGGYVEXI FSSOW ERH VIGSVHW 'VMFIW JVEYHYPIRX EGGSYRXMRKW ERH JEPWI HMWGPSWYVIW EVI EPP X]TIW SJ +(5& ZMSPEXMSRW 8LIWI VI[EVHW GER FI I\XVIQIP] PEVKI [LIR XLI FVMFI MW JSV E TVSGYVIQIRX GSRXVEGX HVYK GSRXVEGX SV SMP PIEWI The Foreign Corrupt Practices Act +(5& ETTPMIW XS Æ¸MWWYIVWÆ¹ 9 ERH JSVIMKR GSQTERMIW PMWXIH SR 9 WIGYVMXMIW I\GLERKIW ERH XLIMV IQTPS]IIW Æ¸HSQIWXMG GSRGIVRW Æ¹ [LMGL VYR XLI VERKI SJ FYWMRIWW IRXMXMIW SVKERM^IH YRHIV 9 PE[W SV [MXL XLIMV TVMRGMTEP TPEGI SJ FYWMRIWW MR XLI 9RMXIH XEXIW XLI SÇ½GIVW HMVIGXSVW IQTPS]IIW ERH EKIRXW SJ XLSWI 9 FYWMRIWW IRXMXMIW MVVIWTIGXMZI SJ REXMSREPMX] 9 GMXM^IRW 9 VIWMHIRX EPMIRW Æ¸ER] TIVWSR Æ¹ MRGPYHMRK EPP JSVIMKR TIVWSRW [LS commit an act in furtherance of a JSVIMKR FVMFI [LMPI MR XLI 9RMXIH XEXIW ERH 9 FYWMRIWWIW ERH REXMSREPW EGXMRK EFVSEH & (SQTER] QYWX VIUYMVI EPP SJ MXW EÇ½PMEXIH GSQTERMIW ERH EPP SJ XLIMV IQTPS]IIW XS GSQTP] [MXL XLI +SVIMKR (SVVYTX 5VEGXMGIW &GX

KMZMRK ER]XLMRK SJ ZEPYI IMXLIV HMVIGXP] SV MRHMVIGXP] XS ER] JSVIMKR SÇ½GMEP TSPMXMGEP TEVX] SV TSPMXMGEP GERHMHEXI SV TYFPMG MRXIVREXMSREP organization to obtain or maintain FYWMRIWW [LIR XLI SÇºIV TE]QIRX SV KMJX MW MRXIRHIH XS MRÇ¼YIRGI E HIWMVIH EGXMSR MRHYGI ER EGX MR ZMSPEXMSR SJ E PE[JYP HYX] GEYWI E person to refrain from acting in ZMSPEXMSR SJ E PE[JYP HYX] WIGYVI ER] MQTVSTIV EHZERXEKI SV MRÇ¼YIRGI XLI HIGMWMSR SJ E KSZIVRQIRX SV MRWXVYQIRXEPMX] 8LIWI TVSLMFMXMSRW TVIGPYHI TE]QIRXW [IVI YRPE[JYP YRHIV XLI PE[W SJ XLI GSYRXV] MR [LMGL TE]QIRX [EW QEHI TE]QIRXW XLEX EVI RSX PIKMXMQEXI I\TIRWIW HMVIGXP] VIPEXIH XS XLI TVSQSXMSR HIQSRWXVEXMSR SV I\TPEREXMSR SJ XLI GSQTER]Æ¶W TVSHYGX SV WIVZMGIW ERH TE]QIRXW XLEX EVI RSX QEHI MR EGGSVHERGI [MXL E GSRXVEGX FIX[IIR XLI GSQTER] ERH E JSVIMKR IRXMX] 8LIWI TVSLMFMXMSRW EPWS MRGPYHI XLMVH TEVX] EGXMSRW [LIVI XLI GSQTER] ORS[W XLEX E TE]QIRX SV E KMJX [MPP FI TVSZMHIH XS E KSZIVRQIRX SÇ½GMEP SV EKIRG] JSV XLI TYVTSWI of obtaining a contract or FYWMRIWW

businesses operate through JSVIMKR GSRWYPXERXW ERH GSRXVEGXSVW ERH MR QEVOIXW [LIVI foreign companies are acting XLVSYKL TEVXRIVW MR NSMRX ZIRXYVIW Foreign Corrupt Practices Act *\GITXMSRW 9RHIV XLI +SVIMKR (SVVYTX 5VEGXMGIW &GX +(5& XLI SRP] I\GITXMSR XS XLI TVSLMFMXMSR SJ QEOMRK TE]QIRXW XS HS business in another country are UYEPMÇ»IH JEGMPMXEXMRK TE]QIRXW 6YEPMÇ»IH JEGMPMXEXMRK TE]QIRXW QEHI MR EGGSVHERGI [MXL PSGEP GYWXSQ SV XS I\TIHMXI SV WIGYVI the performance of routine government action that the payer MW IRXMXPIH XS VIGIMZI WYGL EW government action to obtain PMGIRWIW SV TIVQMXW TVSGIWW government papers such as visas ERH [SVO SVHIVW SV SFXEMR KSZIVRQIRX TVSZMHIH WIVZMGIW WYGL EW TSPMGI TVSXIGXMSR QEMP TS[IV SV TLSRI WIVZMGIW QE] FI I\IQTXIH JVSQ GSZIVEKI F] XLI +(5&

:MSPEXMSRW SJ XLI +SVIMKR (SVVYTX Practices Act (FCPA) are TEVXMGYPEVP] GSQQSR [LIR E RI[ market is opening up because of XLI MRXIRWI MRXIVEGXMSR [MXL E JSVIMKR KSZIVRQIRX HYVMRK XLI STIRMRK SJ XLI QEVOIX MR QEVOIXW Foreign Corrupt Practices Act XLEX EVI YRHIV LIMKLXIRIH scrutiny or 'VMFIW F] 7IKMSR .R PSSOMRK EX Prohibitions: The Foreign Corrupt government HMÇºIVIRX VIKMSRW SJ XLI ;SVPH VIKYPEXMSR MR QEVOIXW [LIVI Practices Act (FCPA) prohibits the FVMFIW XS KSZIVRQIRX SÇ½GMEPW EVI JSVIMKR MRZIWXSVW MRGPYHMRK 9 SÇºIV SV QEOMRK SJ TE]QIRXW SV

2nd ICSB National Award for Corporate Governance Excellence | 2014

QSWX GSQQSR MR &JVMGE XLI 2MHHPI *EWX *EWXIVR *YVSTI ERH &WME .R HSMRK FYWMRIWW MR XLIWI EVIEW WSQI GSYRXVMIW EVI QSVI PMOIP] XS SÇºIV MPPIKEP FVMFIW ERH MPPIKEP OMGOFEGOW XLER SXLIVW SQI GSQTERMIW JVSQ GSYRXVMIW PMOI .RHME ERH SYXL &JVMGE ETTIEV XS SÇºIV QSVI MPPIKEP FVMFIW XS &JVMGER KSZIVRQIRX SÇ½GMEPW XLER GSQTERMIW JVSQ SXLIV GSYRXVMIW ;LIVIEW MR XLI &WME 5EGMÇ»G ERH 1EXMR &QIVMGE VIKMSRW GSQTERMIW JVSQ (LMRE EVI QSVI PMOIP] XS TE] FVMFIW ERH SÇºIV MPPIKEP OMGOFEGOW XS TYFPMG SÇ½GMEPW .RXIVIWXMRKP] .XEPMER GSQTERMIW EVI XLI QSWX PMOIP] GSQTERMIW XS SÇºIV MPPIKEP FVMFIW ERH OMGOFEGOW MR *YVSTI ERH XLI 9RMXIH XEXIW .X WLSYPH FI OITX MR QMRH XLEX these foreign companies that are SÇºIVMRK MPPIKEP FVMFIW XS TYFPMG SÇ½GMEPW GER FI FVSYKLX XS NYWXMGI YRHIV *( FSYRX] EGXMSRW MJ XLI] EVI PMWXIH SR XLI 9 WIGYVMXMIW I\GLERKIW SV LEZI WYÇ½GMIRX XMIW XS XLI 9RMXIH XEXIW .X MW MQTSVXERX XLI VIKYPEXMSR SJ GSQTERMIW STIVEXMRK MR HMÇºIVIRX VIKMSRW SJ XLI ;SVPH FI TVIZIRXIH JVSQ SFXEMRMRK YRJEMV EHZERXEKIW F] FVMFMRK TYFPMG SÇ½GMEPW SV SÇºIVMRK OMGOFEGOW XS TYFPMG SÇ½GMEPW 8LIWI GSQTERMIW [MXL PSRK WXERHMRK XVEHMXMSRW SJ FVMFIV] SJ KSZIVRQIRX SÇ½GMEPW ERH TYFPMG SÇ½GMEPW SJXIR LEZI QER] ZMSPEXMSRW SJ TE]MRK FVMFIW ERH OMGOFEGOW XS KSZIVRQIRX SÇ½GMEPW EX OI] LMKL PIZIP TSPMXMGEP KSZIVRQIRX SÇ½GIW EW [IPP EW XS PS[ PIZIP KSZIVRQIRX SÇ½GMEPW MR OI] KSZIVRQIRX SÇ½GIW '] SFXEMRMRK IZMHIRGI SJ XLIWI FVMFIW ERH TVSTIVP] VITSVXMRK XLIWI MPPIKEP FVMFIW ERH OMGOFEGOW [LMWXPIFPS[IVW GER RSX SRP]

TVIZIRX MPPIKEP EGXW FYX QEOI JSV GSRXVEGXW MRGPYHMRK PEVKI FYMPHMRK TVSNIGXW GER FI FVSYKLX PEVKI Ç»RERGMEP VIGSZIVMIW XS NYWXMGI ERH QEHI XS TE] PEVKI The companies that are making TIREPXMIW YRHIV XLI +SVIMKR FVMFIW XS XLI KSZIVRQIRX SÇ½GMEPW (SVVYTX 5VEGXMGIW &GX ERH MR 7YWWME (LMRE 2I\MGS 'VE^MP ERH [LMWXPIFPS[IVW XLEX FVMRK XLIWI .RHME EVI FIGSQMRK QSVI PMOIP] XS corporations to justice may be FI JSYRH XS LEZI ZMSPEXIH XLI EFPI XS GSPPIGX PEVKI IGSRSQMG +SVIMKR (SVVYTX 5VEGXMGIW &GX ERH VI[EVHW YRHIV XLI IGYVMXMIW FI WYFNIGX XS PEVKI *( WERGXMSRW *\GLERKI &GX *( ;LMWXPIFPS[IV ERH XLI ;LMWXPIFPS[IVW XLEX TVSTIVP] 'SYRX] &GXMSRW VITSVX MPPIKEP FVMFIW ERH OMGOFEGOW (SQQSHMX] *\GLERKI &GX (+8( XS XLI KSZIVRQIRX SÇ½GMEPW SJ ;LMWXPIFPS[IV 'SYRX] &GXMSRW XLIWI GSYRXVMIW EVI IPMKMFPI XS VIGIMZI PEVKI Ç»RERGMEP VI[EVHW 4RI MKRMÇ»GERX 'VMFIV] 1E[WYMXW ;SVPH 8VERWTSVX MRGPYHMRK RSX SRP] E TSVXMSR SJ XLI 5EREPTMRE 1XH E [MWW EQSYRX SJ XLI FVMFI FYX EPWS E -SPHMRK GSQTER] TSVXMSR SJ XLI GSRXVEGX XLEX [EW JVIMKLX JSV[EVHMRK SFXEMRIH XLVSYKL XLI MPPIKEP FVMFI 7S]EP )YXGL LIPP 5PG ERH Ç»ZI SMP WIVZMGIW Ç»VQW EKVIIH XS TE] SV OMGOFEGO QMPPMSR XS WIXXPI GMZMP ERH 'VMFIW F] 'YWMRIWW IGXSV ERH GVMQMREP GPEMQW XLEX XLI] TEMH 7IKMSR .R EHHMXMSR XS WTIGMÇ»G XLSYWERHW SJ FVMFIW XS &JVMGER GSYRXVMIW ERH VIKMSRW FVMFIV] ERH &WMER ERH SYXL &QIVMGER SÇ½GMEPW OMGOFEGOW XLIVI EVI WTIGMÇ»G SR FILEPJ SJ GYWXSQIVW MR XLI SMP FYWMRIWW WIGXSVW [LIVI FVMFIV] ERH KEW MRHYWXV] 8LI *( ERH OMGOFEGOW EVI QSVI GSQQSR PEYRGLIH ER MRUYMV] MRXS [LIXLIV These more corrupt business MRZIWXQIRX Ç»VQW LEZI QEHI WIGXSVW MRGPYHI 5YFPMG ;SVOW improper payments ranging from (SRWXVYGXMSR 4MP ,EW -IEZ] OMGOFEGOW XS PEZMWL KMJXW ERH 2ERYJEGXYVMRK 2MRMRK entertainment to get business 5LEVQEGIYXMGEPW ERH -IEPXL JVSQ WSZIVIMKR [IEPXL JYRHW (EVI '] SÇºIVMRK FVMFIW JSVIMKR (SSQIV &W ER GSVTSVEXMSRW EVI SJXIR EFPI XS /EWSR ;LMWXPIFPS[IV WIGYVI PEVKI KSZIVRQIRX .RXIVREXMSREP GSRXVEGXW XLEX GER FI [SVXL Foreign Corrupt Practices Act QMPPMSRW ERH FMPPMSRW SJ HSPPEVW 1E[]IV ERH *( .RXIVREXMSREP +YVXLIV MX WLSYPH FI VIQIQFIVIH 'YWMRIWW ;LMWXPIFPS[IV 7I[EVH XLEX E [LMWXPIFPS[IV XLEX TVSTIVP] 1E[]IV /EWSR (SSQIV reports a contract bribe in one of GSQQSRP] [SVOW [MXL SXLIV XLIWI MRHYWXVMIW GER VIGIMZI E TS[IVJYP MRXIVREXMSREP FYWMRIWW XS LERHPI PEVKI TSVXMSR SJ XLI IRXMVI MPPIKEPP] PE[]IVW SFXEMRIH GSRXVEGX MJ XLI *( .RXIVREXMSREP 1E[WYMXW HIEPMRK [MXL [LMWXPIFPS[IVW ERH MPPIKEP HIGMHIW FVMFIW OMGOFEGOW JVEYH ERH SXLIV *( ;LMWXPIFPS[IV .RGIRXMZI *( +SVIMKR (SVVYTX 5VEGXMGIW &GX 5VSKVEQ .RJSVQEXMSR 1E[WYMXW (SVTSVEXMSRW XLEX TE] MPPIKEP OMGOFEGOW ERH FVMFIW MR I\GLERKI (Collected from internet)

The writer is the Chairman, ICSB National Award for Corporate Governance Excellence

2nd ICSB National Award for Corporate Governance Excellence | 2014

ARTICLE - 2

THE ROLE OF COMPANY SECRETARY IN COMPLANCE TO GOVERNANCE - Kazi Ashiqur Rahman FCS Compliance vs. Governance (SQTPMERGI QIERW GSRJSVQMRK XS E VYPI WYGL EW E WTIGMÇ»GEXMSR TSPMG] WXERHEVH SV PE[ 7IKYPEXSV] GSQTPMERGI HIWGVMFIW XLI KSEP that organizations aspire to EGLMIZI MR XLIMV IÇºSVXW XS IRWYVI XLEX XLI] EVI E[EVI SJ ERH XEOI WXITW XS GSQTP] [MXL VIPIZERX PE[W ERH VIKYPEXMSRW .R KIRIVEP KSZIVRERGI MW XLI combination of processes IWXEFPMWLIH ERH I\IGYXIH F] XLI FSEVH SJ HMVIGXSVW XLEX EVI VIÇ¼IGXIH MR XLI SVKERM^EXMSR W WXVYGXYVI ERH LS[ MX MW QEREKIH ERH PIH XS[EVH EGLMIZMRK KSEPW ,SZIVRERGI HSIW RSX PMQMX XS GSQTPMERGI VEXLIV QSVI XLER XLEX .X XEPOW SJ YTLSPHMRK XLI LMKLIWX PIZIPW SJ MRXIKVMX] XVERWTEVIRG] EGGSYRXEFMPMX] IÇºIGXMZIRIWW ERH TVSQSXIW TEVXMGMTEXMSR EW [IPP

Towards Governance

transparency in corporate XVERWEGXMSR MR EGGSYRXMRK ERH EYHMXMRK TVSGIHYVI ERH MR EPP FYWMRIWW XVERWEGXMSRW .X EPWS stresses on transparency on the TVSGIHYVIW JSV GSVTSVEXI HIGMWMSR QEOMRK ERH HMWXVMFYXMSR of authority among the company SVKERW

Governance and Reality 8LI [SVH Æ¸,SZIVRERGIÆ¹ MW QYGL XEPOIH ERH HIWIVZIH MWWYI MR XLMW IVE 5YXXMRK SYV LERHW SR XLI LIEVX GER [I WE] XLEX XVYI KSZIVRERGI MW ER][LIVI ;I EPP I\TIGX KSZIVRERGI IZIV][LIVI FYX YR[MPPMRK XS WXEVX JVSQ SYV S[R WMHI )YI XS HSYFPI WXERHEVH KSZIVRERGI WXE]W JEV E[E] SJ HIWMVIH PIZIP (SVTSVEXI governance stresses on MRZIWXQIRX TVSGIWW IÇºIGXMZI TVSTIVX] TVSXIGXMSR ERH WIGYVI QIXLSH SJ S[RIVWLMT 'ERKPEHIWL GSVTSVEXI WIGXSV LEW IWGETIH XLMW VIWTSRWMFMPMX] JSV XSS PSRK 8LYW MR SVHIV XS EZSMH ZEVMSYW WGEQW JVEYHW ERH GVMQMREP GSRHYGXW 'ERKPEHIWL IGYVMXMIW ERH *\GLERKI (SQQMWWMSR MRXVSHYGIH GSVTSVEXI KSZIVRERGI KYMHIPMRI MR ERH PEXIV EQIRHIH MR [MXL ER SFNIGXMZI XLEX PMWXIH GSQTERMIW FIGSQI EGGSYRXEFPI XS XLIMV WLEVILSPHIVW MR TEVXMGYPEV ERH WSGMIX] EX PEVKI

+VSQ XLI PEXI Æ¶W XLI [SVH Æ¸KSZIVRERGIÆ¹ LEW FIGSQI E GSQQSR WTIIGL MR SÇ½GMEP TYFPMGEXMSRW ERH VIWIEVGL TETIVW SJ KSZIVRQIRXW ERH MRXIVREXMSREP MRWXMXYXMSRW 8LI ;SVPH 'ERO ERH .2+ EVI XLI X[MR EKIRGMIW [LS JSV XLI Ç»VWX XMQI XEPOIH EFSYX XLI FEWMG XIRIXW SJ KSZIVRERGI PMOI XVERWTEVIRG] EGGSYRXEFMPMX] IÇ½GMIRG] ERH JEMVRIWW MR SVHIV XS corporate governance check the excessive First GSRGIRXVEXMSR SJ WXEXI TS[IV KYMHIPMRIW [IVI VIPYGXERX Corporate governance refers Æ¸GSQTP] SV I\TPEMRÆ¹ 7EXLIV XLER

2nd ICSB National Award for Corporate Governance Excellence | 2014

IWXEFPMWLMRK FMRHMRK PE[W XLI] WIX SYX E GSHI PMWXIH GSQTERMIW QYWX IMXLIV EHLIVI XS MX SV I\TPEMR TYFPMGP] [L] XLI] HS RSX 1EXIV 'ERKPEHIWL IGYVMXMIW ERH *\GLERKI (SQQMWWMSR MQTSWIH RI[ GSVTSVEXI KSZIVRERGI KYMHIPMRIW MR EMQIH EX TVSQSXMRK XVERWTEVIRG] ERH EZSMHMRK XLI JEMPYVIW SJ XLI TEWX 3I[ GSVTSVEXI KSZIVRERGI KYMHIPMRI WIX SYX E GSHI IWXEFPMWLMRK FMRHMRK PE[W Æ¸GSQTP] SV IPWIÆ¹ TLMPSWSTL] .R XLI JEGI SJ TIVWMWXIRX ERH YR[EZIVMRK HMWMRGPMREXMSR XLI VIEPMWXMG STXMSR 'ERKPEHIWL IGYVMXMIW ERH Exchange Commission is to JSVGMFP] MQTSWI IZIV WXVMGXIV GSVTSVEXI KSZIVRERGI KYMHIPMRI

Need of Transformation ;I EVI [MXRIWWMRK E TIVMSH SJ IZIV KVS[MRK Ç»RERGMEP VIKYPEXMSRW ERH RI[ KSZIVRERGI VYPIW EMQIH EX TVSQSXMRK XVERWTEVIRG] ERH EZSMHMRK XLI JEMPYVIW SJ XLI TEWX The intention is to prevent the

SVKERMÊXMSRW FIMRK TPYRKIH MRXS RI[ ǻRERGMEP GVMWMW EW E GSRWIUYIRGI SJ MREHIUYEGMIW MR LS[ XLI] EVI VYR .X [EW ZIV] QYGL GSQQSR XLEX FSEVHW [IVI VIPYGXERX XS MQTVSZI GSVTSVEXI KSZIVRERGI [LIR XLI] [IVI JVII XS GLSSWI RSX XS HS WS *\GITX JI[ I\GITXMSRW SVKERMÊXMSRW EVI QSWXP] YR[MPPMRK SJ FIMRK KSZIVRIH 2SWX SJ XLIQ EVI VIPYGXERX EFSYX QMRMQYQ GSQTPMERGI SJ VIPIZERX PE[W ERH VIKYPEXMSRW ERH SRP] GSQTP] [LMGL EVI RSX TSWWMFPI XS EZSMH .R 'ERKPEHIWL MR QER] GEWIW SVKERMÊXMSRW EVI HIWMKRIH XS GSRGIEP MRJSVQEXMSR VEXLIV XLER WLEVI MX 8LMW PEGO SJ XVERWTEVIRG] HSIW RSX PMQMX MXWIPJ SǽGMEP HIEPMRKW [MXL XLI WXEOILSPHIVW FYX MW IZIR QSVI GSQQSR [MXLMR XLI KSZIVRQIRX ;MXLMR WYGL GYPXYVI SJ GSRGIEPQIRX KSZIVRERGI WXE]W JEV E[E] Corporate governance is SFZMSYWP] RSX E WXEXMG TVSGIWW VEXLIV MX OIITW HIZIPSTMRK SZIV XLI ]IEVW EHHMRK RI[ JEGXW ERH ZEPYIW XS IRWYVI XLI TVSWTIVMX] SJ

EPP XLI WXEOILSPHIVW 4VKERM^EXMSRW RIIH XS GSQI SYX SJ VIKYPEXIH GSQTPMERGI XLI] RIIH XS IRWYVI KSSH KSZIVRERGI JSV IXLMGEP VIEWSR ERH EGGSYRXEFMPMX]

SǽGIV 3S[ LMW VSPI MW GSRWMHIVIH EW EHZMWSV XS XLI FSEVH ERH KSZIVRERGI TVSJIWWMSREP EW [IPP .R XLMW IZIV IZSPZMRK GSVTSVEXI scenario the company secretary is XLI TVSJIWWMSREP [LS GER TPE] E OI] VSPI MR IRWYVMRK XLI TVEGXMGI SJ KSSH KSZIVRERGI ERH KSZIVRERGI GYPXYVI [MXLMR XLI SVKERM^EXMSR

;I RIIH XS VIQIQFIV XLI ;MRWXSR (LYVGLMPPƶW JEQSYW UYSXEXMSR Ƹ.J ]SY LEZI XIR XLSYWERH VIKYPEXMSRW ]SY HIWXVS] EPP VIWTIGX JSV XLI PE[ ƹ =IW VIWTIGX XS SXLIVW VMKLX ERH Conclusion GSQTP] [MXL XLI S[R SFPMKEXMSR GER SRP] FI XLI KSZIVRERGI ;I GER SRP] LSTI XLEX KIRYMRI IZMHIRGI SJ KSSH KSZIVRERGI KYMHIPMRI MRWXIEH SJ MQTSWMXMSR FIMRK VI[EVHIH F] XLI QEVOIXW Role of Company Secretary [MPP TIVWYEHI QSVI FSEVHW ERH in Transformation GSQTERMIW XS MQTPIQIRX MQTVSZIH TVEGXMGIW SJ XLIMV S[R ;LIR UYIWXMSR SJ XVERWJSVQEXMSR HIWMVI 8LEROW XS .RWXMXYXI SJ EVMWIW ERSXLIV UYIWXMSR WXERHW EW (LEVXIVIH IGVIXEVMIW SJ XS [LS [MPP KYMHI XLI FSEVH SJ 'ERKPEHIWL .( ' JSV VI[EVHMRK HMVIGXSVW SR IXLMGEP VIEWSR ERH XLSWI [LS KSZIVR XLIQWIPZIW EGGSYRXEFMPMX] .R XSHE]ƶW [IPP 'IJSVI IRHMRK EKEMR UYSXMRK GSVTSVEXI HVMZIR [SVPH GSQTER] JVSQ Ƹ8LI 7IWMWXERGI XS (MZMP WIGVIXEV] EGXYEPP] KYMHIW XLI ,SZIVRQIRX F] -IRV] FSEVH SJ HMVIGXSVW SR XLI IXLMGEP )EZMH 8LSVIEY Ƹ.X MW XVYP] IRSYKL KVSYRH ERH SZIVWII VIWTSRWMFPI WEMH XLEX E GSVTSVEXMSR LEW RS FSEVH TVEGXMGI *ZIV KVS[MRK GSRWGMIRGI FYX E GSVTSVEXMSR SJ VIKYPEXMSRW ERH KSZIVRERGI VYPIW conscientious men is a makes the company secretary GSVTSVEXMSR [MXL E GSRWGMIRGIƹ QYGL QSVI XLER NYWX GSQTPMERGI

ĚåƐƾŹĞƒåŹƐĞžƐ±Ɛ ŇŹŤŇŹ±ƒåƐ ý±ĞŹžƐa±Ļ±ďåŹØƐ ĞĻďåŹƐ ±ĻďĮ±ÚåžĚƐXĞķĞƒåÚ

2nd ICSB National Award for Corporate Governance Excellence | 2014

ARTICLE - 3

WHISTELBLOWING: INDISPENSABLE INGREDIENT TO CORPORATE GOVERNANCE - S. Abdur Rashid FCS1 - Md. Atiqur Rahman ACS2 Introduction (SVTSVEXI ,SZIVRERGI HIRSXIW XLI WXVYGXYVI ERH JYRGXMSRMRK SJ GSVTSVEXI SVKERM^EXMSR MRGI WITEVEXMSR SJ S[RIVWLMT ERH GSRXVSP ERH EVMWMRK EKIRG] GSRÇ¼MGXW EVI SFZMSYW MR GSVTSVEXMSRW ERH QYGL QSVI MR XLI MWWYIVW SJ WIGYVMXMIW PMWXIH [MXL WXSGO I\GLERKIW TYFPMGP] XVEHIH SRIW XLI XIVQ GSVTSVEXI KSZIVRERGI MW QSVI GSRRIGXIH [MXL XLI PMWXIH TYFPMGP] XVEHIH IRXMXMIW (SVTSVEXI ,SZIVRERGI MR MXW REVVS[IWX HIÇ»RMXMSR GSRGIVRW XLSWI [LS GSRXVSP XLI GSQTER] EW [IPP EW XLI VIPEXMSRWLMT KSZIVRMRK XLI WLEVILSPHIVW ERH HMVIGXSVW FYX MR XLI FVSEHIWX MRGPYHIW GSVTSVEXI EGGSYRXEFMPMX] FSXL GMZMP ERH GVMQMREP

XLEX GSQFMRIW QER] XLMRKW MX EWWIVXW VMKLXW TVSXIGXW MRXIVIWXW MRÇ¼YIRGIW NYWXMGI ERH VMKLXW [VSRKW ;LMWXPIFPS[MRK TVSQSXIW KSSH GSVTSVEXI KSZIVRERGI [LMGL MW IWWIRXMEP XS E GSVTSVEXMSRÆ¶W KVS[XL

;LMWXPIFPS[IVW EVI IQTPS]IIW [LS I\IVGMWI JVII WTIIGL VMKLXW XS GLEPPIRKI MRWXMXYXMSREP EFYWIW SJ TS[IV SV MPPIKEPMX] XLEX FIXVE] XLI TYFPMG XVYWX 8LIMV HMWGPSWYVIW QE] FI QEHI MRXIVREPP] SV I\XIVREPP] either through the chain of GSQQERH SV SYXWMHI XLEX GLEMR ERH XLSYKL EXXIQTXW LEZI FIIR QEHI XS GEXIKSVM^I XLIWI Æ¸XVYXL XIPPIVWÆ¹ XLI] GVSWW EPP IHYGEXMSREP KIRHIV IXLRMG ERH VIPMKMSYW PMRIW XYHMIW LEZI WLS[R XLEX XLI] XIRH XS FI XLI QSWX HMPMKIRX ERH XLEX XLI] HS RSX (SRGIVR EFSYX KSSH GSVTSVEXI WMXYEXMSREPM^I XLIMV QSVEPMX] KSZIVRERGI LEW PEVKIP] FIIR QSXMZEXIH MR VIGIRX ]IEVW F] E Corporate governance is an WIVMIW SJ GSVTSVEXI WGERHEPW ERH IXLMGEP IRZMVSRQIRX MR [LMGL EPP processes are JEMPYVIW MR QER] GSYRXVMIW .X MW business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promoting integrity by speaking 2EREKIQIRX ERH OI] WXEÇº EVI XVYXLJYPP] EFSYX [LEX MW VMKLX ERH EPWS FIMRK LIPH EGGSYRXEFPI ERH [LEX MW [VSRK .X MW ER ETTVSEGL EWOIH XS EGX VIWTSRWMFP] &W

2nd ICSB National Award for Corporate Governance Excellence | 2014

organizations seek to enhance WXERHEVHW ERH GSRXVSPW JSV FIXXIV ERH QSVI IÇºIGXMZI GSVTSVEXI KSZIVRERGI XLI MQTSVXERX VSPI SJ [LMWXPIFPS[MRK LEW FIGSQI MRGVIEWMRKP] IZMHIRX 8LI VIEWSR MW ZIV] WMQTPI *QTPS]IIW SJXIR [MXRIWW MRGMHIRXW ERH WMXYEXMSRW MR GSVTSVEXMSRW XLEX EVI MQQSVEP ERH YRIXLMGEP FYX EVI TS[IVPIWW XS HS ER]XLMRK EFSYX MX .X MW RSX FIGEYWI SJ PEGO SJ [ERX FYX VEXLIV HYI XS XLI PEGO SJ STTSVXYRMX] 3SX QER] GSVTSVEXMSRW TVITEVI ER SYXPIX JSV IQTPS]IIW XS ZSMGI XLIMV Ç»RHMRKW SV GSRGIVRW ERH XLMW MW JYVXLIV

GSQTSYRHIH F] XLI JEGX XLEX RSX SRP] GSVTSVEXMSRW FYX WSGMIX] MR KIRIVEP EVI MRXSPIVERX SJ [LMWXPIFPS[IVW [LMGL XLI] WII EW TISTPI [LS XIPP ERH WTVIEH XEPIW 8LMW EXXMXYHI MW RIZIV XVYIV MR 'ERKPEHIWL [LIVI XLI GYPXYVI LIVI MW QSVI XS XLI PSSO XLI SXLIV [E] VEXLIV XLER JEGI IZIV]XLMRK MR XLI STIR &W WYGL FIGEYWI SJ XLMW ZIV] ETTVSEGL [LMWXPIFPS[MRK MR TVMZEXI WIGXSV WXMPP VIQEMRW NEYRX] MR 'ERKPEHIWL

Whistleblowing & Whistleblower

WII XLEX MX MW MRMXMEXIH JVSQ XLI TVEGXMGI SJ *RKPMWL FSFFMIW [LS [SYPH FPS[ XLIMV [LMWXPIW [LIR XLI] RSXMGIH XLI GSQQMWWMSR SJ E GVMQI XLI FPS[MRK SJ XLI [LMWXPI [SYPH EPIVX FSXL PE[ IRJSVGIQIRX SǽGIVW ERH XLI KIRIVEP TYFPMG SJ HERKIV 8LI 5YFPMG MRXIVIWX .RJSVQEXMSR )MWGPSWYVI 5VSZMHI 5VSXIGXMSR &GX ?&GX 3S SJ A SJ 'ERKPEHIWL HIǻRIW XLEX Ƹ;LMWXPIFPS[IV QIERW XLI TIVWSR [LS HMWGPSWIW XLI TYFPMG MRXIVIWX information to a competent EYXLSVMX] ƹ

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SVKERM^EXMSR *\XIVREP ;LMPI WIEVGLMRK JSV XLI 4VMKMR SJ [LMWXPIFPS[MRK SGGYVW [LIR E & GVMQMREP SǺIRGI XLI XIVQ [LMWXPIFPS[IV [I GER [LMWXPIFPS[IV XEOIW MRJSVQEXMSR

2nd ICSB National Award for Corporate Governance Excellence | 2014

Global Practices and Protections and Bangladesh )IZIPSTIH GSYRXVMIW WYGL EW XLI 9 & 90 ERH &YWXVEPME LEZI MRXVSHYGIH PIKMWPEXMSR VIPEXMRK XS [LMWXPIFPS[MRK .R XLI 9 & XLI EVFERIW 4\PI] &GX VIUYMVIW XLI EYHMX GSQQMXXII XS IWXEFPMWL VYPIW JSV XLI XVIEXQIRX SJ GSQTPEMRXW VIGIMZIH F] XLI GSQTER] VIKEVHMRK EGGSYRXMRK MRXIVREP EGGSYRXMRK GSRXVSPW SV EYHMXMRK QEXXIVW ERH XLI GSRÇ»HIRXMEP anonymous submission by IQTPS]IIW SJ GSRGIVRW VIKEVHMRK UYIWXMSREFPI EGGSYRXMRK SV EYHMXMRK QEXXIVW .X EPWS GSRXEMRW GMZMP TVSZMWMSRW XLEX TVSXIGX [LMWXPIFPS[IVW IQTPS]IH F] TYFPMGP] XVEHIH GSQTERMIW JVSQ HMWGVMQMREXMSR ERH GVMQMREP TVSZMWMSRW TVSLMFMXMRK VIXEPMEXMSR EKEMRWX IQTPS]IIW SJ FSXL TYFPMG ERH TVMZEXI GSQTERMIW [LS [LMWXPI FPS[ XS E PE[ IRJSVGIQIRX SÇ½GIV .R XLI 90 XLI 5YFPMG .RXIVIWX )MWGPSWYVI &GX TVSZMHIW TVSXIGXMSR JSV IQTPS]IIW MR XLI TYFPMG TVMZEXI ERH ZSPYRXEV] WIGXSVW JSV E FVSEH VERKI SJ HMWGPSWYVIW 6YEPMJ]MRK HMWGPSWYVIW EVI HMWGPSWYVIW SJ MRJSVQEXMSR [LMGL XLI IQTPS]II VIEWSREFP] FIPMIZIW XIRHW XS WLS[ SRI SV QSVI SJ XLI JSPPS[MRK MW IMXLIV LETTIRMRK RS[ LEW LETTIRIH MR XLI TEWX SV MW PMOIP] XS happen in the future: E GVMQMREP SÇºIRGI E FVIEGL SJ E PIKEP SFPMKEXMSR E QMWGEVVMEKI SJ NYWXMGI E HERKIV XS XLI LIEPXL SV WEJIX] SJ ER] MRHMZMHYEP

HEQEKI XS XLI IRZMVSRQIRX

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2nd ICSB National Award for Corporate Governance Excellence | 2014

QEXXIVW 8LI &(ƶW SFNIGXMZI WLSYPH FI XS IRWYVI XLEX EVVERKIQIRXW EVI MR TPEGI JSV XLI MRHITIRHIRX MRZIWXMKEXMSR SJ WYGL QEXXIVW ERH JSV ETTVSTVMEXI JSPPS[ YT EGXMSR ƹ .X MW JEMV XS WE] XLEX SYXWMHI SJ XLI QSVI HIZIPSTIH GSYRXVMIW PMOI 9 & 90 ERH &YWXVEPME XLIVI MW PMQMXIH PIKMWPEXMZI TVSXIGXMSR JSV [LMWXPIFPS[IVW 8LI PEGO SJ PIKMWPEXMZI TVSXIGXMSR MW SJXIR GSQTSYRHIH F] XLI IQTPS]QIRX PE[ PMFIP PE[ ERH XLI KIRIVEP PIKEP W]WXIQ +SV I\EQTPI IQTPS]QIRX PE[W MR WSQI GSYRXVMIW QEOI MX VIPEXMZIP] IEW] JSV ER IQTPS]IV XS ǻVI ER IQTPS]II [MXL PMQMXIH RSXMGI ERH [MXLSYX TVSTIV GEYWI 8LI GSWXW SJ XEOMRK GMZMP EGXMSR JSV [VSRKJYP HMWQMWWEP ERH XLI PEGO SJ TYRMXMZI HEQEKIW IZIR MJ [VSRKJYP HMWQMWWEP MW TVSZIR QIERW XLEX MX MW YRPMOIP] XLEX ER IQTPS]II [LS MW ǻVIH JSV [LMWXPIFPS[MRK [MPP XEOI ER] PIKEP EGXMSR 8LI GSQTER] ERH MXW QEREKIQIRX LEZI XLI JYPP resources of the company to HIJIRH XLI WYMX [LMPI XLI IQTPS]II LEW PMQMXIH VIWSYVGIW ERH QE] LEZI XS TE] GSWXW MJ LI PSWIW & [LMWXPIFPS[IV QE] EPWS FI WYIH JSV HIJEQEXMSR ERH QE] LEZI XS TE] YT MJ XLI EPPIKEXMSR XYVRW SYX XS FI MRGSVVIGX IZIR MJ QEHI MR KSSH JEMXL ERH [MXL VIEWSREFPI FIPMIJ .R ER] GEWI XLI [LMWXPIFPS[IV YWYEPP] LEW PMQMXIH resources to contest such a PE[WYMX +YVXLIV MX QE] RSX FI TSWWMFPI XS TVSXIGX XLI MHIRXMX] SJ XLI [LMWXPIFPS[IV MJ XLI TPEMRXMǺ

ETTPMIW XS XLI (SYVX JSV LMW MHIRXMX] -MKLPMKLXW EPXIVREXMZI VSYXIW MJ XLI MRHMZMHYEPW JIIP Xhey cannot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ƶ MRXIVIWX XLI KSZIVRQIRX ERH GSQQIRXEXSVW MRGPYHI GSRGIVRW Conclusion EFSYX VEMWMRK XLI GSWXW SJ HSMRK FYWMRIWW ERH XLI MQTPMGEXMSRW SJ (SVTSVEXI ,SZIVRERGI MW XLI WYGL PIKMWPEXMSR JSV IQTPS]QIRX VIKYPEXMRK MRǼYIRGI ETTPMIH XS ERH PMFIP PE[W .X MW E TSWMXMZI WMKR EǺEMVW SJ E GSVTSVEXMSR XS QEMRXEMR JSV 'ERKPEHIWL XLEX ER &GX REQIP] KSSH SVHIV ERH ETTP] ƸXLI 5YFPMG MRXIVIWX .RJSVQEXMSR TVIHIXIVQMRIH WXERHEVHW ERH )MWGPSWYVI 5VSZMHI 5VSXIGXMSR [LMWXPIFPS[MRK MW IWWIRXMEP JSV &GX ?&GX 3S SJ Aƹ LEW (SVTSVEXI ,SZIVRERGI -S[IZIV FIIR IREGXIH XS TVSZMHI JSV PIKEP XLI TYFPMG LEZI E PS[ PIZIP SJ TVSXIGXMSR XS TIVWSRW HMWGPSWMRK GSRǻHIRGI MR ǻKLXMRK GSVVYTXMSR MRJSVQEXMSR VIPEXMRK XS TYFPMG XLVSYKL [LMWXPIFPS[MRK FIGEYWI MRXIVIWX ERH JSV QEOMRK TVSZMWMSRW XLI] JIEV VIXEPMEXMSR ERH ERGMPPEV] XLIVIXS MRXMQMHEXMSR EKEMRWX XLI

Why whistleblowing is essential for Corporate Governance ;LMWXPIFPS[MRK MW IWWIRXMEP JSV (SVTSVEXI ,SZIVRERGI FIGEYWI MX -IPTW XS MHIRXMJ] VMWOW XLEX XLI GSQTER] QE] LMHI ERH XS EHHVIWW [VSRKHSMRK W[MJXP] *RGSYVEKIW WXEOILSPHIVW XS speak out if they have GSRGIVRW

[LMWXPIFPS[IVW S MR IZIV] WSGMIX] IREGXQIRX SJ PE[ XS TVSXIGX [LMWXPIFPS[IVW MW RIGIWWEV] ERH XLI PE[ MJ IREGXIH MW I\TIGXIH XS EWWMWX MR HIXIGXMRK GSVVYTXMSR IRWYVMRK FIXXIV MRJSVQEXMSR ǼS[ ERH TEZMRK XLI [E] JSV WYGGIWWJYP TVSWIGYXMSR SJ GSVVYTX MRHMZMHYEPW XLVSYKL GPIEV ERH TVSXIGXIH TVSGIWWIW 9PXMQEXIP] [LMWXPIFPS[MRK [MPP IRWYVI (SVTSVEXI ,SZIVRERGI ERH TVSXIGX XLI MRXIVIWXW SJ EPP WXEOILSPHIVW

The writers are: 1 {Ź±ÏƒĞÏĞĻďƐ Ě±ŹƒåŹåÚƐ åÏŹåƒ±ŹǅƐ±ƒƐ ±žĚĞÚƐ¼Ɛ žžŇÏĞ±ƒåžƐŦ Ě±ŹƒåŹåÚƐ åÏŹåƒ±ŹĞåžŧ 2 žžĞžƒ±ĻƒƐ ŇķŤ±ĻǅƐ åÏŹåƒ±ŹǅƐ±ƒƐ ũƐ Į±ķƐ:ŹŇƣŤ

2nd ICSB National Award for Corporate Governance Excellence | 2014

ARTICLE - 4

AN URGENCY FOR EFFECTIVE CORPORATE GOVERNANCE - Md. Shiful Islam ACS (SVTSVEXI ,SZIVRERGI QE] FI HIǻRIH EW E W]WXIQ SJ VYPIW TVEGXMGIW ERH TVSGIWWIW F] [LMGL E GSQTER] MW HMVIGXIH ERH GSRXVSPPIH .X IRXEMPW FEPERGMRK XLI MRXIVIWXW SJ XLI QER] WXEOILSPHIVW MR E GSQTER] ERH MRZSPZIW E PEVKI EVVE] SJ TEVXMIW SJXIR [MXL GSRǼMGXMRK MRXIVIWXW 8LI WXEXI SJ corporate governance can have ER MQTSVXERX IǺIGX SR XLI EZEMPEFMPMX] ERH GSWX SJ GETMXEP JSV EPP ǻVQW ERH KSSH GSVTSVEXI KSZIVRERGI SJ ǻRERGMEP ǻVQW MW IWWIRXMEP MR JSWXIVMRK ǻRERGMEP WXEFMPMX] ERH LIEPXL] IGSRSQMG KVS[XL ,SSH GSVTSVEXI KSZIVRERGI JVEQI[SVOW LIPT ǻVQW ERH GSYRXVMIW MQTVSZI EGGSYRXEFMPMX] QSVI IǽGMIRX YWI SJ GETMXEP ERH EXXVEGX UYEPMX] ERH PSRK XIVQ MRZIWXSVW EX PS[IV GSWXW

FIRIǻX SJ WSGMIX] EW E [LSPI ERH MRHYGI WXEFPI FYWMRIWW HIZIPSTQIRX ERH KVS[XL PS[IV VMWO ERH WYWXEMREFMPMX] As a part of the country’s move XS[EVHW XLI KSSH GSVTSVEXI KSZIVRERGI TVEGXMGIW MX LEW VIGIRXP] ǻREPM^IH XLI ǻRERGMEP reporting act specifying scope of XLI EGX 8LI TYFPMG ERH TVMZEXI sectors have taken steps to improve corporate governance in VIGIRX ]IEVW 8LI IGYVMXMIW ERH *\GLERKI (SQQMWWMSR MWWYIH ,YMHIPMRIW SR (SVTSVEXI ,SZIVRERGI MR ERH TYFPMWLIH XLI VIZMWIH SRI MR .RXIVREXMSREP WXERHEVHW JSV EGGSYRXMRK ERH EYHMXMRK LEZI FIIR MRGSVTSVEXIH MRXS PSGEP WXERHEVHW 3IZIVXLIPIWW corporate governance status in 'ERKPEHIWL KSIW [MXL WPS[ TEGI REVVS[IV WGSTI ERH PMQMXIH MQTPMGEXMSR QMWWMRK XLI WXVIRKXLW XS EXXVEGX JSVIMKR MRZIWXQIRXW ERH VIXEMR

SJ RI[ GSVTSVEXI KSZIVRERGI GSHI [LMGL GEQI MRXS IǺIGX JVSQ /YRI WE]W EPP EFSYX XLI VEXMSREPI JSV GSVTSVEXI KSZIVRERGI /ETER E HIZIPSTIH GSYRXV] MR XLI KPSFI EPWS XLI TMSRIIV SJ WIZIVEP TVSZIR QEREKIQIRX XSSPW [EW MR ER IRHIEZSV XS MQTVSZI XLIMV GSYRXV]ƶW PIWW XLER HIWMVEFPI & KSSH GSVTSVEXI KSZIVRERGI MQEKI ERH YRHS WSQI SJ XLI VIKMQI MW GIRXVEP XS XLI IǽGMIRX RIKEXMZI WIRXMQIRX I\TVIWWIH F] YWI SJ GETMXEP +MVWX MX TVSQSXIW SZIVWIEW MRZIWXSVW GLMIǼ] F] QEVOIX GSRǻHIRGI LIPTW XS MRXVSHYGMRK E RI[ GSVTSVEXI EXXVEGX EHHMXMSREP PSRK XIVQ KSZIVRERGI GSHI 8LI GETMXEP FSXL HSQIWXMG ERH KSZIVRQIRX MW LSTMRK XLI RI[ JSVIMKR ERH JSWXIVW QEVOIX -S[IZIV GSVTSVEXI KSZIVRERGI MW W]WXIQ SJ VYPIW [MPP MQTVSZI HMWGMTPMRI XLVSYKL ETTVSTVMEXI very important for every country MRZIWXSVW GSRǻHIRGI EW [IPP EW HMWGPSWYVI ERH XVERWTEVIRG] ERH MX WLSYPH I\XIRH MXW WGSTI LIPT XS QEOI MXW IUYMX] QEVOIX IGSRH KSSH GSVTSVEXI FI]SRH XLI TEVXMGYPEV WIGXSV QSVI EXXVEGXMZI XS JSVIMKR GETMXEP KSZIVRERGI LIPTW XS IRWYVI XLEX EPSRI .J E GSYRXV] [ERXW XS IEVR corporations take into account the LMKLIV GSQTIXMXMZIRIWW MX WLSYPH 8LI &WMER +MRERGMEP (VMWMW MRXIVIWXW SJ E [MHI VERKI SJ practice corporate governance in [EW E [EOI YT GEPP JSV &WMER GSRWXMXYIRGMIW TEVXMGYPEVP] [LIR EPP XLI WIGXSVW TVMZEXI SV TYFPMG TSPMG] QEOIVW ERH GSQTERMIW XLI FSEVH VIGSKRM^IW XLEX ERH EPP XLI PIZIP SJ XLI KSZIVRERGI 8LI GVMWMW I\TSWIH QER] GSVTSVEXI WSGMEP VIWTSRWMFMPMX] GER LMKLEVEVG] MRWXMXYXMSREP ERH TSPMG] QYXYEPP] FIRIǻX XLI GSQTER] ERH [IEORIWWIW MR XLI VIKMSR ERH The recent move of Japanese MXW STIVEXMRK IRZMVSRQIRX 8LSWI WTYVVIH QYPXMTPI VIJSVQW 8S 5VMQI 2MRMWXIV LMR^ğ &FI ERH LMW EGXMSRW MR XYVR LIPT XS IRWYVI XLEX WYTTSVX XLMW HVMZI XS MQTVSZI GEFMRIX XS[EVHW XLI TVSQYPKEXMSR corporations operate for the GSVTSVEXI KSZIVRERGI VYPIW ERH

2nd ICSB National Award for Corporate Governance Excellence | 2014

TVEGXMGIW XLI &WMER IGSRSQMIW S[RIVWLMT ERH KSZIVRERGI SJ TIVJSVQERGI FEWIH VIQYRIVEXMSR EPSRK [MXL XLI 4VKERMWEXMSR JSV 4*W MR &WME 8LI] MRGPYHI *GSRSQMG (S STIVEXMSR ERH )IZIPSTQIRX 4*() IWXEFPMWLIH E 8LI IWXEFPMWLQIRX SJ XLI I 8LI GSQTVILIRWMZI ]IEV ,SZIVRQIRX 1MROIH Ƹ(EFMRIX (SQQMXXII SR XLI &WMER 7SYRHXEFPI SR (SQTERMIW ,1( 7IWXVYGXYVMRK SJ 5YFPMG IGXSV (SVTSVEXI ,SZIVRERGI MR Transformation Program in *RXIVTVMWIW 5 *W ƹ MR 5EOMWXER 8LI ǻVWX ZIVWMSR SJ XLI 5VMRGMTPIW 2EPE]WME LEW LEH E TSWMXMZI ERH XLI ǻVWX 5YFPMG IGXSV [EW EKVIIH F] XLI 4*() MQTEGX EW XSHE] QER] SJ XLI Companies (Corporate QIQFIVW MR high ranking companies in ,SZIVRERGI 7YPIW [LMGL 2EPE]WME MR XIVQW SJ KSSH GEQI MRXS JSVGI MR 8LI 5VMRGMTPIW EVI FIMRK VIZMI[IH KSZIVRERGI TVEGXMGIW EVI MR JSV XLI XLMVH XMQI WMRGI MXW F 8LI GVIEXMSR SJ E RI[ GEXIKSV] EGXYEPP] ,1(W EHSTXMSR MR 8LI VEXMSREPI JSV SJ (IRXVEP 5YFPMG IGXSV XLI VIZMI[ MW XS IRWYVI XLI *RXIVTVMWIW (5 * ORS[R EW 'ERKPEHIWL WLSYPH IRWYVI KSSH GSRXMRYMRK LMKL UYEPMX] VIPIZERGI Ƹ2ELEVEXREƹ MR .RHME EW [IPP EW KSZIVRERGI MR TSPMG] QEOMRK ERH YWIJYPRIWW SJ XLI 5VMRGMTPIW XLI IWXEFPMWLQIRX SJ MQTPIQIRXMRK ERH FILEZMRK F] taking into account recent KSZIVRQIRX ETTVSZIH IEGL ERH IZIV] SVKERMÊXMSRP ;I HIZIPSTQIRXW MR XLI GSVTSVEXI Ƹ,YMHIPMRIW SR (SVTSVEXI EVI MR RIIH SJ EXXVEGXMRK JSVIMKR WIGXSV ERH GETMXEP QEVOIXW 8LI ,SZIVRERGI JSV (5 *Wƹ MR .RHME MRZIWXSVW LEZI IEW] EGGIWW XS SYXGSQI WLSYPH TVSZMHI TSPMG] GETMXEP ERH WLEVI SYV ZEPYEFPI QEOIVW VIKYPEXSVW ERH SXLIV G 8LI TEWWEKI SJ XLI LYQER VIWSYVGIW EVSYRH XLI VYPIQEOMRK FSHMIW [MXL E WSYRH ,SZIVRQIRX 4[RIH ERH [SVPH 2SVISZIV 8SHE]ƶW FYWMRIWW FIRGLQEVO JSV IWXEFPMWLMRK ER (SRXVSPPIH (SVTSVEXMSRW MW I\XVIQIP] GSMRIH [MXL XLI IǺIGXMZI GSVTSVEXI KSZIVRERGI ,4(( ,SZIVRERGI &GX SJ RYQIVSYW GLEPPIRKIW WYGL EW JVEQI[SVO MR XLI 5LMPMTTMRIW 9RHIV XLI YRGIVXEMRX] KPSFEPMÊXMSR EGX XLI 5VIWMHIRX MW KMZIR XLI MRRSZEXMSR KSZIVRQIRX TSPMG] .R TEVEPPIP [MXL XLI VIZMI[ SJ EYXLSVMX] XS VIZMI[ VIXEMR ERH ERH VIKYPEXMSR XIGLRSPSK] XLI 4*() 5VMRGMTPIW SJ (SVTSVEXI VITPEGI SǽGMEPW MR QSVI XLER HMZIVWMX] I\TIGXMRK LMKLIV VIXYVR ,SZIVRERGI XLI 4*() ,YMHIPMRIW ,4((W .X EPWS GVIEXIW XLI GSQTPI\MX] MRJSVQEXMSR SZIVPSEH SR (SVTSVEXI ,SZIVRERGI SJ ,SZIVRERGI (SQQMWWMSR JSV WYTTP] GLEMR QEREKIQIRX IXG XEXI 4[RIH *RXIVTVMWIW EVI EPWS ,4((W XLEX [MPP I\EQMRI XLI FIMRK VIZMWIH 4*() EPWS [SVOIH TIVJSVQERGI ERH S XLI GSYRXV] PMOI 'ERKPEHIWL on promoting the corporate SVKERMÊXMSREP WXVYGXYVIW SJ [LS MW MR E HIZIPSTMRK WXEKI ERH KSZIVRERGI KYMHIPMRIW JSV ,4((W touching the attention of RSR PMWXIH GSQTERMIW WMRGI &WMER MRXIVREXMSREP EVIRE WLSYPH WXEVX 7SYRHXEFPI SR (SVTSVEXI H 8LI GVIEXMSR SJ FSEVHW SJ HMVIGXSVW MR QSWX 4* TEVIRX TVEGXMGI SJ GSVTSVEXI KSSH ,SZIVRERGI MR 8LI WGSTI SJ GSQTERMIW MR (LMRE ERH KSZIVRERGI MR ER MRGPYWMZI ERH corporate governance is going to MRXVSHYGXMSR SJ SYXWMHI I\XIRHIH QSHI XS EXXVEGX JSVIMKR FI I\XIRHIH ERH TVSQSXIH F] MRZIWXQIRX FSXL MR FEGO[EVH ERH HMVIGXSVW MR 4* FSEVHW EW [IPP HMǺIVIRX ZSPYRXEV] EWWSGMEXMSRW JSV[EVH PMROEKIW XS QEOI SYV EW RI[ TIVJSVQERGI ERH SVKERMÊXMSRW EVSYRH XLI FYWMRIWW GSQTIXMXMZI ERH EWWIWWQIRX QIEWYVIW ERH [SVPH QE] FI LMRXIH GMXMRK WSQI WYWXEMREFPI VYPIW XS MRGIRXMZMÎ I\IGYXMZIW VIKMSREP HIZIPSTQIRX MR XLI ERH HMVIGXSVW XLVSYKL

ĚåƐƾŹĞƒåŹƐĞžƐ±ƐƐ žžŇÏĞ±ƒåƐaåķÆåŹƐ¼Ɛ ÚĥƣĻÏƒƐ8±ÏƣĮƒǅƐŇüƐƒĚåƐFĻžƒĞƒƣƒå

2nd ICSB National Award for Corporate Governance Excellence | 2014

INSTITUTE OF CHARTERED SECRETARIES OF BANGLADESH (ICSB) A Statutory Body Under an Act of Parliament Padma Life Tower (7th & 8th Floor), 115 Kazi Nazrul Islam Avenue, Bangla Motor, Dhaka-1000, Bangladesh Phone: 880 2 831 5338, 933 9957, 933 6901, 935 6972, 934 9578, E-mail: icsb@icsb.edu.bd, www.icsb.edu.bd