Beximco Pharmaceuticals won the gold accolade for practicing good governance

Beximco Pharmaceuticals was one of the few companies to be awarded for practicing good governance in their day-to-day operations. The awards were hosted by the Institute of Chartered Secretaries of Bangladesh (ICSB), the only recognized professional body in Bangladesh tasked with developing, promoting and regulating the profession of chartered secretaries. Beximco Pharmaceuticals  of Beximco group won the gold accolade in the pharmaceutical and chemicals category. The silver went to Square Pharmaceuticals and the bronze award to ACI Ltd.

The second National Award for Corporate Governance Excellence were held at the Sonargaon Hotel in Dhaka, Bangladesh. Finance Minister AMA Muhith presided over the ceremony and handed over the awards to the winning companies.

Official spokesperson for Beximco Pharmaceuticals said, “ It is a moment of pride for us to receive such a prestigious award. This is a resultant of the diligence of our employees and expert management of workings of the company.”

In the banking category, Eastern Bank Ltd got the gold award with UCB settling for a silver award and Social Islami Bank winning the bronze.

The awards, launched last year, aim to encourage and promote excellent governing in the corporate sectors of Bangladesh and encourage them to become competitive in the global arena.

Speaking as chief guest, Muhith said that company secretaries were important along with accountants and management for proper functioning of a corporate body.

M Khairul Hossain, chairman of Bangladesh Securities and Exchange Commission, said,” Bigger roles have been assigned to the company secretaries through various reforms. The BSEC is now in a position to monitor all activities of listed companies on a real-time basis, allowing the regulator to detect any manipulation and discipline the market.”

ICSB President Mohammad Asad Ullah said, “There are 1.4 lakh corporate firms registered with the Office of the Registrar of Joint Stock Companies and Firms. They account for 73 percent of the economy and yet they are neglected. There should be a separate ministry, named the corporate affairs ministry, to regulate the corporate firms, which will ultimately boost the country’s revenue income.”