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The Institute of Chartered Accountants of Bangladesh (ICAB) has awarded the ‘ICAB National Award’ to 25 companies based on the quality of their financial statements for 2021 as well as their integrated reporting and corporate governance.
Commerce Minister Tipu Munshi presented the awards to the winners at an event at a city hotel on Saturday. The ceremony was attended by distinguished guests from various ministries, trade bodies, regulators and stakeholders.
Among the winners, Bank Asia emerged as the overall winner.
In the category of the banking sector (private), Bank Asia and Shahjalal Islami Bank jointly won the first prize, Brač banka the second prize, and United Commercial and Mercantile Bank jointly shared the third prize. Jamuna Bank and Southeastern Bank received certificates of appreciation.
In the financial services sector category, IDLC Finance stood first, Bangladesh Finance second and IPDC Finance third. DBH Finance Corporation and Lanka Bangla Finance received degrees.
In the Manufacturing category, British American Tobacco BD won first prize, Walton Hi-Tech Industries second and Reckitt Benckiser BD won third prize. Marico BD, RAK Ceramics BD and Premier Cement Mills received certificates of appreciation.
In the energy sector, Summit Power and United Power received certificates of merit.
Eastern Housing received a certificate of merit in the infrastructure and construction category.
Green Delta was first, Reliance Insurance second and Citi General Insurance third in the insurance category. The National Insurance Company received recognition.
In the Communications and IT category, Robbie Akiata won the first prize and Grameenphone the second prize.
ACI received a Certificate of Merit in the Diversified Holdings category.
In the category of Public Sector Entities, Infrastructure Development Company came first, Investment Corporation of Bangladesh came second and Bangladesh Infrastructure Finance Fund Ltd.
From non-governmental organizations (NGOs), Brač secured the first prize, the second prize was shared by the Sajida Foundation and the Center for Community Development, and the third prize was shared by the Society for Social Service and the Shakti Foundation for disadvantaged women.
Only Unikue Hotel and Resorts received a certificate of merit in the service sector category.
In the Disclosure of Corporate Governance category, Bank Asia was first awarded; Shahjalal Islami Bank and IDLC Finance jointly won the second prize and LankaBangla Finance, British American Tobacco and Mercantile Bank shared the third prize. Bračka banka received recognition for its merits.
In the integrated reporting category, IDLC Finance and Bank Asia jointly took first place, Shahjalal Islami Bank and British American Tobacco Bangladesh shared second prize and Mercantile Bank third. Lanka Bangla Finance has been recognized for its merit.
In the public sector banks category, only Janata Bank and Sonali Bank received certificates of merit.
An 11-member panel of judges, chaired by former Bangladesh Bank Governor Atiur Rahman, reviewed the list of winners recommended by the ICAB Audit Committee on Published Accounts and Reports which received 88 entities this year. The commission could not recommend any company from the agriculture sector due to low results.
From the winners, ICAB will nominate the three best annual reports within each sector for awards at the following year’s SAFA BPA competition in recognition of their excellence in financial disclosure.
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