ICMAB recognises BRAC Bank’s corporate governance for fifth time in a row

FE ONLINE DESK | Wednesday, 26 January 2022

BRAC Bank has won the ‘Gold Award’ in ‘ICMAB Best Corporate Award 2020’ for the fifth consecutive time.

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) recognised the best corporate governance practices of the bank with the award.

BRAC Bank’s Financial Controller Mohammad Abdul Ohab Miah received the award from Commerce Minister Tipu Munshi at a ceremony at a hotel in Dhaka recently, according to a press release.

The Gold Award is the highest-ranking award in the private commercial bank category. 

Earlier, BRAC Bank got the first position in the private commercial bank category in 2016, 2017, 2019 and the second position in 2018.  

Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam and ICMAB President Abu Bakar Siddique FCMA were present at the award-giving ceremony.

The press release said BRAC Bank’s performance indicators in the banking sector are reflected in the highest market capitalisation, the highest international investor shareholding in the local banking sector and the highest credit rating.

On winning the award, BRAC Bank’s Managing Director and CEO Selim RF Hussain said, “This recognition from ICMAB for five consecutive years reflects strong bearing of our corporate governance culture, transparency, ethics and compliance.”

“The award will inspire us to attain an even greater excellence in corporate governance and adopting international accounting standards,” Selim RF Hussain said.

“We gratefully recognise the bank’s valued customers and stakeholders for their unwavering trust in BRAC Bank which has helped us to achieve such recognition”, he added.