25 entities win ICAB National Award

The Institute of Chartered Accountants of Bangladesh (ICAB) has presented the "ICAB National Award" to 25 companies based on the quality of their 2021 financial reports as well as for their integrated reporting and corporate governance.

Commerce Minister Tipu Munshi handed over the awards to the winners at an event at a city hotel on Saturday. Distinguished guests from different ministries, trade bodies, regulators, and stakeholders attended the ceremony.

Among the winners, Bank Asia became the overall winner.

In the Banking Sector (Private) category, Bank Asia and Shahjalal Islami Bank jointly won the first prize, Brac Bank second prize, and United Commercial and Mercantile Bank jointly shared the third prize. Jamuna Bank and Southeast Bank received certificates of merit.

In the Financial Services Sector category, IDLC Finance came first, Bangladesh Finance second, and IPDC Finance third. DBH Finance Corporation and Lanka Bangla Finance received certificates of merit.

In the Manufacturing category, British American Tobacco BD won the first prize, Walton Hi-Tech Industries second, and Reckitt Benckiser BD bagged the third prize.  Marico BD, RAK Ceramics BD and Premier Cement Mills received certificates of merits.

In the Power and Energy sector, Summit Power and United Power received certificates of merit.

Eastern Housing received a certificate of merit in the category of infrastructure and construction. 

Green Delta came first, Reliance Insurance second and City General Insurance third under the Insurance category. Peoples Insurance Company received a certificate of merit.

In the Communication and IT category, Robi Axiata won the first prize and Grameenphone second.

ACI received a certificate of merit in the diversified holdings category.

In the Public Sector Entities category, Infrastructure Development Company came first, Investment Corporation of Bangladesh second and Bangladesh Infrastructure Finance Fund Ltd third.

Of the non-governmental organisations (NGO), Brac secured the first prize, Sajida Foundation and Community Development Center shared the second prize, and Society for Social Service and Shakti Foundation for Disadvantaged Women shared the third prize.

Only Unique Hotel and Resorts received a certificate of merit in the service sector category.

In the Corporate Governance Disclosures category, Bank Asia was the first prize winner; Shahjalal Islami Bank and IDLC Finance jointly won the second prize, and LankaBangla Finance, British American Tobacco and Mercantile Bank shared the third prize. Brac Bank received a certificate of merit.

In the Integrated Reporting category, IDLC Finance and Bank Asia jointly came first, Shahjalal Islami Bank and British American Tobacco Bangladesh shared the second prize, and Mercantile Bank came third. Lanka Bangla Finance  received a certificate of merit.

In the public sector banks category, only Janata Bank  and Sonali Bank  received certificates of merit.

An 11-member jury board, chaired by former Bangladesh Bank Governor Atiur Rahman, reviewed the list of winners recommended by the ICAB Review Committee for Published Accounts & Reports which received 88 entities this year. The committee could not recommend any company from the agriculture sector because of low scores.

From the winners, three best annual reports under each award sector will be nominated by ICAB to the SAFA BPA competition next year in recognition of their excellence in financial disclosure.