bKash was recognised as the "Overall Best Brand 2020" in the 12th edition of the Best Brand Award Bangladesh on Wednesday.
According to a press release, this year, 155 brands were awarded across 37 categories.
Closeup and Ispahani secured the second and third places in the overall best brands rank respectively, it added.
Bangladesh Brand Forum (BBF), powered by AIUB, in partnership with Nielsen Bangladesh and in association with The Daily Star, organised the event virtually for the first time.
Nazia Andaleeb Preema, director of BBF and president of Women in Leadership (WIL), and founder, Bangladesh Creative Forum, gave the welcome speech at this year's award opening ceremony.
She said, "To be really edgy, local brands need to delve in our cultural dimension and by understanding the psyche of evolving Bangladesh, strong brands has to immerse with science and arts. Only then brands will be sustainable because it is about striking emotional chords with functionality."
Congratulating Bangladesh brand forum for the event, Salman Fazlur Rahman, MP, advisor to the Prime Minister, Private Sector and Investment urged everyone to give their best at actively playing their individual role in taking the nation forward along with advancing their personal journey in the new year.
Meanwhile, Prashant Kolleri, leader – Customised Intelligence, Nielsen South Asia, gave a detailed speech to describe the methodology of Best Brand Award 2019.
The 12th edition of the award kicked off shortly after the closing ceremony of "Brandfest – The Next Bangladesh," the country's largest brand and marketing festival.
The last day of the 3-day-long "Brandfest - 2020" was focused on Bangladesh – from a policy making area, as a brand and how can we engage on our 50th year of Independence with a more structured and reformed manner, the press statement added.
The Best Brand Award started its journey with Nielsen Bangladesh in 2008 based on a global model done through a direct consumer survey of 7,600 consumers across the country which included self administrated reviews, the press release noted.