Foreign adviser calls for ethical reset in financial management to fix past irregularities
Foreign Affairs Adviser Touhid Hossain has called for an ethical reset in the country's financial governance to move forward from the widespread money laundering, bank fraud and accounting irregularities that occurred during the previous government's tenure.
Speaking as the chief guest at the SAFA International Conference 2026 in Dhaka today (17 January), organised by the Institute of Chartered Accountants of Bangladesh (ICAB), he said, "We all are aware that for 15 years a huge amount of money has been taken from our country. Much of it was done in what I would say bank robbery in broad daylight. But a significant part was also the result of manipulation of accounting with so many top accountants of the country before me."
He said professionals across sectors share responsibility for preventing a repeat of such practices.
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"I would urge your collaboration so that this does not happen in future and we can come back to a different path," he said, calling for greater integrity and accountability in financial oversight.
The conference, themed "Next Generation Profession: Converging Ethical AI and Sustainability Reporting," focused on how the accounting profession is changing amid rapid technological developments and rising expectations for transparency.
Touhid Hossain said Bangladesh's long-term economic progress and deeper integration into the global economy would depend on professionals who are technically skilled but also ethically grounded and socially responsible.
He said ethical governance has become even more urgent as artificial intelligence and sustainability reporting gain wider roles in financial management and regulatory scrutiny.
He noted that technology without ethical checks risks replicating past failures in more complex forms.
Highlighting the technological aspect, AHM Ahsan, Chairman of the Bangladesh Competition Commission, noted that while AI-driven systems can enhance efficiency and compliance, they carry significant risks without strong ethical frameworks.
He warned that unregulated AI could lead to algorithmic collusion, market dominance abuses, and opacity, urging the professional community to adopt these tools with caution.
ICAB President NKA Mobin, FCA stressed that the accounting profession must lead the charge in ethical AI and sustainability reporting.
He remarked that the world needs forward-thinking accountants who remain anchored in the timeless foundations of objectivity and public service.
Muhammed Farhad Hussain FCA, former president of ICAB and chairman of the Conference Organising Committee, also addressed the event.
The conference served as a major regional platform for strategic dialogue, bringing together delegates from Afghanistan, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka. The day-long event featured three technical sessions aimed at reshaping professional collaboration across South Asia.
