Listed companies see incongruity in Corporate Governance Guidelines

The Bangladesh Association of Publicly Listed Companies (BAPLC) has demanded of the regulatory bodies to remove the conflicting clauses from the Corporate Governance Guidelines promulgated recently by the Bangladesh Securities & Exchange Commission.

The apex body of listed companies in its 19th AGM held recently raised the issue and said some of the BSEC guidelines are not congruent with the regulations issued earlier by primary regulators of banks and listed companies - Bangladesh Bank and the Insurance Development & Regulatory Authority (IDRA).

The BAPLC members said there was an urgent need for clarification on the conflicting items from the BSEC, as compliance has been mandated for December 31, 2018, and the Executive Committee of BAPLC was requested to take immediate follow-up measures in this regard, said a statement.

As per the Articles of Association, Anis A. Khan, Vice President, BAPLC and Managing Director & CEO of Mutual Trust Bank, presided over the meeting, in the absence of the incumbent president Azam J. Chowdhury from the capital city.

EC members Ruhul Amin, Chairman, Bangladesh Industrial Finance Co. Ltd, Syed M. Altaf Hossain, Chairman, Pragati Insurance Ltd, Ms. Rokeya Quader ( former EC member), Chairman, Desh Garments Ltd. Abdullah Al Mahmud, Managing Director, Hamid Fabrics Ltd, Riad Mahmud, Managing Director, National Polymer Ind. Ltd, Syed Farhad Ahmed, Managing Director & CEO, Aamra Technologies Ltd, Engr. Md. Abu Noman Howlader, Chairman, Bangladesh Building Systems Ltd, Shahriar Ahmed, Managing Director, Apex Foods Ltd and Md. Amzad Hossain, Secretary-General of BAPLC were also present at the AGM.

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