Finance Minister AMA Muhith has expressed his satisfaction over the performance by the country’s financial sector despite it is hit hard by the financial scams.
“I believe our financial sector is performing quite well but there are some cases of mishaps,” he told a function in Dhaka on Sunday night. “Nationally we’re performing well, not too badly,” he said.
Muhith came up with the remarks while attending an award giving ceremony titled “The Institute of Cost and Management Accountants of Bangladesh (ICMAB), Best Corporate Award-2013.”
He, however, admitted that the progress in the financial sector was sort of a barometer for uplifting the economic progress of the country.
As the private, power, and even the corporate sector could be the engine of growth, these sectors are crucial for the economic development,” said the minister.
“Companies and corporate are the driving forces for the overall development of a country,” said Muhammed Aziz Khan, chairman of Summit Power and Khulna Power Ltd, after winning an award.
Like the previous year, the ICMAB had selected best corporate houses in seven sectors banking, non-banking financial institutions, insurance, pharmaceuticals, power, multinational and other sectors.
The award recipients are Rupali Bank Limited in nationalised bank/state-owned bank category, Islami Bank Bangladesh Ltd, Shahjalal Islami Bank Limited, Al-Arafah Islami Bank Ltd in private commercial bank (islamic operation) category, Prime Bank Limited, Eastern Bank Limited, Standard Bank Limited in private commercial bank (traditional operation) category, HSBC Ltd, Standard Chartered Bank and Commercial Bank of Ceylon Ltd in foreign bank category, IDLC Finance Limited, Delta Brac Housing Finance Corporation Ltd, Uttara Finance & Investment Limited in non-banking financial institution category, Square Pharmaceuticals Ltd, Beximco Pharmaceuticals, Renata Limited in pharmaceuticals category, Summit Power Limited, Khulna Power Company Ltd, Barakatullah Electro Dynamics Limited in power sector category, Berger Paints Bangladesh Ltd, Singer Bangladesh Limited in multinational category while Bangladesh Submarine Cable Company Ltd (BSCCL), Investment Corporation of Bangladesh, Power Grid Company of Bangladesh received the award in others category.
On behalf of the awardees, chief financial officer of HSBC Steve Ball, Islami Bank managing director and CEO Abdul Mannan and chairman of Summit Power and Khulna Power Ltd Muhammed Aziz Khan shared their feelings after receiving the awards in their respective sectors.
ICMAB President Mohammad Salim and chairman of the selection committee Muzaffar Ahmed spoke on the occasion while ICMAB Secretary Jamal Ahmed Chowdhur also attended the function.
The Institute of Cost and Management Accountants of Bangladesh (ICMAB) introduced ICMAB Best Corporate Award in 2007 to encourage the corporate world to act more responsibly and publish more informative and transparent annual reports.
