BRAC Bank crowned as best in corporate governance

The Institute of Chartered Secretaries of Bangladesh (ICSB) has conferred Gold Award to BRAC Bank at the 8th ICSB National Award for Corporate Governance Excellence in the general banking category.

Commerce Minister Tipu Munshi MP formally handed over the award to BRAC Bank Deputy Managing Director and CFO M Masud Rana FCA at Radisson Blu Water Garden Hotel in Dhaka on Sunday (12 December), said a press release. 

Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam and ICSB President Muzaffar Ahmed, FCMA, FCS were present at the programme. 

The ICSB Award is conferred to the organisations in recognition of best corporate governance practices.

BRAC Bank's superior performance indicators in the banking sector are reflected in the highest market capitalisation and the highest international investor shareholding in the local banking sector and the highest credit rating. As a member of Global Alliance for Banking on Values (GABV), the bank drives on values-based banking and sustainability initiatives, the press release added. 

"At BRAC Bank, governance, compliance, ethics and transparency are the cornerstones of our business model. With consistency in financial performance and good corporate governance, the bank has emerged as a leading financial institution in Bangladesh. It leads the local banking industry in nearly all financial metrics and is also a benchmark for corporate governance and values-based banking," said BRAC Bank Managing Director and CEO Selim RF Hussain on winning the award. 

"This recognition from ICSB is another acknowledgment of our successful journey towards becoming the 'Best Bank' in the country. We thank the bank's valued customers and stakeholders for their continued guidance and confidence in the organization that make us what we are today," he added.