Companies Act, Corporate Governance Guidelines

ICSB for incorporating Secretarial Standards provisions

Published: March 17, 2018 00:31:09 | Updated: March 17, 2018 12:04:07

Shubhashish Bose (4th from left), Secretary, Ministry of Commerce addressing the Continuing Professional Development (CPD) seminar on "Bangladesh Secretarial Standards adopted by ICSB", arranged by Institute of Chartered Secretaries of Bangladesh (ICSB) Friday

Special Correspondent

Institute of Chartered Secretaries of Bangladesh (ICSB) Friday stressed the need for incorporating the provisions of Bangladesh Secretarial Standards (BSS:1, BSS:2, BSS:3 and BSS:4) in the new Companies Act and revised Corporate Governance Guidelines.

The ICSB also urged the Bangladesh Securities and Exchange Commission (BSEC) to incorporate a mandatory clause in the revised Corporate Governance Guidelines for appointment of Chartered Secretary in every listed company as Company Secretary.

The ICSB urge came in a Continuing Professional Development (CPD) seminar titled "Bangladesh Secretarial Standards adopted by ICSB" held on the day in a city hotel.

The seminar also put thrust on integration, harmonisation and standardisation of diverse secretarial practices prevailing in the country.

Shubhashish Bose, Secretary, Ministry of Commerce attended the seminar as the Chief Guest and assured that the recommendations made by the ICSB for incorporation of the provisions of Secretarial Standards 1,2,3 and 4 in the Companies Act will be taken into consideration to strengthen the corporate sector of the country.

He said that the present government has taken lot of initiatives to attract foreign investments in Bangladesh and establish good corporate culture in the country.  He also expressed his view that professional institutes like ICSB should come forward and share their knowledge regarding the development process of the country.

Mohammad Asad Ullah FCS, Chairman, Professional Development Sub-Committee of ICSB presided over the CPD seminar and summed up the whole session.

Prof. Dr. Swapan Kumar Bala, Commissioner, BSEC and Mohammad Sanaullah FCS, President, ICSB spoke.

Prof. Dr. Swapan Kumar Bala, Commissioner, Bangladesh Securities and Exchange Commission (BSEC) attended the Seminar as Special Guest. He said that Bangladesh is on the path of rapid development and already graduated from Developing Country status. ICSB is a professional Institute and can work with BSEC to establish good governance in the corporate sector of Bangladesh. He appreciated the role of Chartered Secretaries in a company for compliance with the rules and regulations imposed by regulatory authorities from time to time. BSEC will do everything for the development of ICSB profession. He also assured that necessary measures would be taken to incorporate the Secretarial Standards adopted by ICSB in the final revised Corporate Governance Guidelines initiated by BSEC for the development of capital market of the country.

Two keynote papers were presented in the seminar by Md. Azizur Rahman FCS, Council Member of ICSB on Secretarial Standards 1 and 2 and the other one was presented by M. Naseemul Hye FCS, former Senior Vice President of ICSB on Secretarial Standards 3 and 4.

Official discussants of the session were Dr. Feroz Iqbal Faruqe FCS, former Vice President of the Institute and Safiar Rahman FCS, Council Member of the ICSB.

Mohammad Sanaullah FCS, the President of the Institute was present on the occasion. In his speech, he emphasized the role of Company Secretaries in establishing good governance in the field of corporate management.

"They can play a pivotal role to boost up confidence of the investors. Bangladesh is advancing forward and to institutionalize the process," the ICSB president said.

He urged the Chartered Secretary professionals to apply their knowledge and experience more diligently and assiduously.

The event was attended by a large number of ICSB Members who are working in different listed companies of the country. Corporate leaders and government officials also attended.

Share if you like