22 entities awarded for best annual reports
Nine entities also received certificates of merit while the IDLC Finance Limited became the national champion
The Institute of Chartered Accountants of Bangladesh (ICAB) on Saturday awarded 22 Bangladeshi entities under 10 different categories for the quality of their 2018 annual reports.
Nine entities also received certificates of merit while the IDLC Finance Limited became the national champion.
Along with the national best presented annual report (BPA) award, 24 Bangladeshi entities won crests or certificates of merit in the regional BPA awards and the SAARC Anniversary Award for Corporate Governance Disclosure by the South Asian Federation of Accountants (SAFA).
As the national level member body of the regional organisation, ICAB nominates Bangladeshi companies, government enterprises and non-governmental organisations (NGO) to compete in the regional round.
For the first time, the national and regional BPA awards and the SAARC Anniversary Award for Corporate Governance Disclosure were handed over at a single event.
Along with organising the 19th national BPA award ceremony, ICAB hosted the SAFA Best Presented Annual Report Awards and the SAARC Anniversary Award for Corporate Governance Disclosures 2018 ceremony at a hotel in Dhaka.
Commerce Minister Tipu Munshi attended the event as chief guest, while Financial Reporting Council Chairman CQK Mustaq Ahmed as special guest.
SAFA President Dr PVS Jagan Mohan Rao was present at the ceremony as the guest of honour.
Nation level BPA award winners
Bank Asia received the first prize in the private bank category, while Brac Bank and Southeast Bank jointly won the second prize. Mutual Trust Bank won the third prize.
Pubali Bank, Dutch Bangla Bank Limited, Prime Bank, Islami Bank Bangladesh Limited and the Mercantile Bank received certificates of merit.
IDLC Finance and LankaBangla Finance jointly won the first prize in the financial service category, while IPDC Finance won the second prize.
In the manufacturing category, British American Tobacco Bangladesh won the first prize, Bangladesh Steel Re-Rolling Mills (BSRM) won the second prize and United Power Generation and Orion Pharma jointly received the third prize. BSRM Steel, Premier Cements Mills, RAK Ceramics and Linde Bangladesh Ltd got certificates of merit.
Green Delta Insurance Company Limited secured the first position in the insurance category. Reliance Insurance won the second prize and Prime Insurance received the third prize.
In the NGO category, Ghashful received the first prize, Brac secured the second position and Sajida Foundation won the third prize.
Grameenphone won the first prize in the communication and information technology category. No other entity received awards in this category.
In the public sector entities category, Bangladesh Infrastructure Finance Fund Limited became the first prize winner, Investment Corporation of Bangladesh second and Infrastructure Development Company Limited won the third prize.
Golden Harvest Agro Industries Limited alone won the first prize in the agriculture category. No other entities won any awards in the category.
In the corporate governance disclosures category, Southeast Bank bagged the first prize, Bank Asia won the second prize, and Standard Bank, Golden Harvest Agro Industries and British American Tobacco Bangladesh jointly received the third prize.
In the category of integrated reporting, IDLC Finance Limited received the first prize, Brac got the second prize, and Bank Asia and LankaBangla Finance jointly received third prize.
The SAFA BPA Award 2018 winners
This year, 24 Bangladeshi entities nominated by the ICAB won awards or certificates of merit in the South Asian regional competition.
Brac Bank won the overall championship prize. Among private and co-operative banks of the South Asian countries, Bank Asia won the first runner up and the Southeast Bank received the second runner up award.
No state-owned bank from Bangladesh won any regional awards.
LankaBangla Finance became the regional champion in the non-banking financial service sector category, while IPDC Finance Ltd was the first runner up and the IDLC Ltd got a certificate of merit.
Among insurance companies, Prime Insurance was the first runner up and Green Delta Insurance and Reliance Insurance Ltd both received certificates of merit.
In the manufacturing category, British-American Tobacco Bangladesh became the second runner up while Orion Pharma and BSRM Ltd got certificates of merit.
Grameenphone won the regional second runner up award in the communication and information technology sector.
Among NGOs, Ghashful became the first runner up, while Sajida Foundation and Brac got certificates of merit.
Golden Harvest Agro Industries became the second runner up in the agricultural sector.
In public sector entities category, Infrastructure Development Company Limited became the regional champion while the Investment Corporation of Bangladesh was the first runner up. The Bangladesh Infrastructure Finance Fund Limited (BIFFL) became the second runner up in the South Asian region.
No diversified holding companies were present at the SAFA BPA round.
For integrated reporting, IDLC Finance, Brac Bank and Bank Asia received certificates of merit.
Bank Asia also came as the champion in the SAARC Anniversary Award for Corporate Governance, while Southeast Bank became the first runner up and Standard Bank got a certificate of merit.
