BRAC Bank's corporate governance profile has reached a new height as the bank has made a record in winning the prestigious Institute of Cost and Management Accountants of Bangladesh (ICMAB) recognition for five years in a row.
The ICMAB has awarded "Gold Award" in ICMAB Best Corporate Award 2020 to BRAC Bank, reads a press release.
Earlier, BRAC Bank got the first position in the private commercial bank category in 2016, 2017, 2019 and the second position in 2018.
The ICMAB Award is conferred to the organisations in recognition of best corporate governance practices.
BRAC Bank's superior performance indicators in the banking sector are reflected in the highest market capitalization and the highest international investor shareholding in the local banking sector and the highest credit rating.
As a member of Global Alliance for Banking on Values (GABV), the bank drives on values-based banking and sustainability initiatives.
Commerce Minister Tipu Munshi MP formally handed over the award to BRAC Bank's Financial Controller Mohammad Abdul Ohab Miah FCA at Hotel Le Meridien on 30 December 2021.
Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam and ICMAB President Abu Bakar Siddique FCMA were present.
On winning the award, BRAC Bank's Managing Director & CEO Selim R. F. Hussain said: "At BRAC Bank, good governance, compliance, ethics and transparency are the cornerstone of our business model. 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 standard. The award will be a stepping stone towards becoming the 'best bank' in the country. We gratefully recognise the bank's valued customers and stakeholders for their unwavering trust on BRAC Bank which has helped us to achieve such recognition", he added.