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HSBC launches Business Excellence Awards in Bangladesh

  • Published at 10:23 pm December 14th, 2019
HSBC
HSBC executives present at the press confrence held at a hotel in Dhaka on Saturday, December 14, 2019 Courtesy

Application submission closes on Dec 31

The Hongkong and Shanghai Banking Corporation (HSBC) Limited has launched a fresh scheme of ‘Business Excellence Awards’ in Bangladesh.

The bank's Deputy Chief Executive Officer and Country Head of Wholesale Banking, Md Mahbub-ur Rahman made the announcement of the awards at a press conference at a hotel in the capital on Saturday.

He said the newly launched awards were aimed to recognize and honour business enterprises and entrepreneurs for their contribution to the sustainable growth of the national economy.

“The latest initiative of awards is aimed to support businesses to thrive, and to enable them to connect with high growth global opportunities," Rahman said.

He said the HSBC invited applications from business enterprises and entrepreneurs for the 1st HSBC BUSINESS EXCELLENCE AWARDS.

According to him, the nomination phase will be closed on 31st December 2019 for 2020 awards. Finally selected business enterprises and entrepreneurs will be conferred crest and prize money on January 18, 2020 at a gala reception.

He said the aspirants would need to fill up a short nomination form mentioning a brief about business enterprises and entrepreneurs. Nomination forms and other details of the program are available online at business.hsbc.com.bd/bea.

He said the 1st HSBC Business Excellence Awards was designed under seven categories spanning annual export turnover from $5 to $50 million. 

The first category is 'Export Excellence-Ready Made Garments (RMG)' with annual export turnover of $50 million and above. The second is 'Export Excellence-Supply Chain and Backward Linkage' with annual export turnover of $10 million and above. The third is 'Export Excellence-Nontraditional and Emerging Sectors' with annual export turnover (Non-RMG and non-Textiles) of $3 million and above. 

The fourth is 'Best in Import Substitution: Reducing or substituting imports to a value of $10 million and above'. The fifth is 'Leader in Inbound Investment' (Foreign investment in the form of capital, technology solution, etc.). The sixth is 'Infrastructure Excellence' (Organization with the most impactful contribution to an infrastructure development project in Bangladesh, improving living standards and unlocking GDP growth), and the seventh is 'Special Achievement Award' (Individual(s)/Organization who has made exemplary contribution to country's socioeconomic growth, excellence in innovation, job creation and supporting the community).

Previously, HSBC carried out another award scheme for promoting businesses in Bangladesh styled 'Export Excellence Awards' since 2010.

The new scheme styled 'HSBC Business Excellence Awards' is supported by the Ministry of Commerce, government of the People’s Republic of Bangladesh and the Department for International Trade (DIT), British High Commission. Adjudication will be done by a jury board comprising members from HSBC senior management team, Ministry of Commerce and DIT.

The award is open to all enterprises and entrepreneurs operating in Bangladesh and the entry is free. The winners will be selected based on aspects such as annual contribution to the national exports and economy, diversity, responsibility, sustainable business practices, governance strength and regulatory compliance.

Muhammad Shohiduzzaman, country head of Global Trade and Receivables Finance, HSBC Bangladesh, and Talukdar Noman Anwar, country head of communications, HSBC Bangladesh, also spoke at the conference.