Seminar On Corporate Governance for Bangladesh: Issues, Concepts, and Theories
Event Name : Recent Events
Date : 6 December, 2006- ,
Venue: Bangladesh Enterprise Institute (BEI) Conference Room
December 06, 2006, Time: 3:00 P.M. – 5:00 P.M.
Dr. Mohammed Farashuddin, former Governor, Bangladesh Bank
Mr. Anis A. Khan, Managing Director and CEO, IDLC
Dr. Baqui Khalily, Professor, Department of Finance, University of Dhaka
Mr. Md. Mahbubur Rahman, Company Secretary & Head of Legal, BAT, Bangladesh
The Bangladesh Enterprise Institute (BEI) organized a seminar titled Corporate Governance for Bangladesh: Issues and Challenges on December 06, 2006 to raise awareness and enhance understanding of Corporate Governance (CG) among the student community.
The objective of the seminar was to make students familiar with the fundamental issues and international best practices of CG. The seminar highlighted the application of corporate governance principles in Bangladesh.
Dr. Mohammed Farashuddin, Former governor, Bangladesh Bank chaired the seminar. Mr. Anis A Khan, Managing Director (MD) and CEO of IDLC; Mr. Mahbubur Rahman Head of Legal Affairs and Company Secretary of the British American Tobacco Bangladesh; Professor M A Baqui Khalily, Head of Centre for Corporate Governance and Finance Studies at Dhaka University and Ms. Lopa Rahman, Project Director, Corporate Governance Strengthening Project (CGSP) of BEI discussed various aspects of corporate governance and its implementation in Bangladesh at the seminar.
While chairing the session Dr. Farashuddin said that strong regulations and proper monitoring of day-to-day activities were prerequisites for the implementation of CG principles in business houses. He also said CG will ensure efficiency, accountability and transparency, but it cannot be imposed from outside the organization; rather it should be cultured within the institution.
During her presentation, Ms. Lopa Rahman highlighted BEI’s role in implementing corporate governance principles in Bangladesh and its developments in the country. She also said that CG is important and necessary for creating confidence in the domestic investors, attracting foreign investment and promoting stable growth in investment and thereby, ensuring stable, long term economic growth.
Terming corporate governance a set of processes, customs, policies, laws and institutions, which affect the control and administration of a company, Mr. Mahbubur Rahman said that CG determines a company’s ability to make informed managerial decisions. He also said CG framework promotes transparent and efficient markets, and articulates the division of responsibilities among different supervisory, regulatory and enforcing authorities.
Mr. Anis Khan said that corporate governance is still in an initial stage in Bangladesh and that it would take some years to reach the desired level of implementation. He also highlighted the findings of the survey titled “Corporate Governance Guidelines issued by Securities and Exchange Commission and its implementation practices in Bangladesh”.
“Narrow vision of ownership structure in corporate houses is virtually restricting the implementation of corporate governance in Bangladesh. So ownership pattern should immediately be diversified,” said Professor Baqui Khalily. He also said companies and firms must pursue the path of ownership diversification especially when they raise fund from the capital market. He emphasized that Corporate Governance should be taught as a separate course for all the graduates of the Business Schools in order to better prepare Bangladesh’s future business leaders.
In the concluding session, Ms. Lopa Rahman announced that as a follow up activity to raise understanding and awareness on CG among the students, BEI would be organizing an essay competition during the first quarter of 2007.
For further information, please contact Ms. Lopa Rahman, Project Coordinator, CGSP or Ms. Sherina Tabassum, Communications Coordinator, BEI.
Posted Date : 4 March, 2012