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A majority of companies operating in Bangladesh significantly lack corporate governance, which often leads to institutional failure, speakers observed at a programme on Wednesday.
Keeping this in view, they noted that professionals like company secretaries can play a vital role in guiding the company board members in a bid to help ensure governance.
They came up with the observations at the '9th Convocation 2025' of the Institute of Chartered Secretaries of Bangladesh (ICSB) at a city hotel on Wednesday.
Lutfey Siddiqi, special envoy on International Affairs to the Chief Adviser of the Interim Government of Bangladesh, attended the convocation as the chief guest.
Bangladesh Bank Governor Dr Ahsan H Mansur and Secretary (Routine Charge) to the Ministry of Commerce Abdur Rahim Khan were special guests.
Vice Chancellor of the University of Dhaka Professor Niaz Ahmed Khan was the convocation speaker while ICSB acting President M Nurul Alam chaired it.
In his speech, Lutfey Siddiqi said establishing and strengthening institutions are vital.
Felicitating the awardees, BB Governor Dr Ahsan H Mansur said along with the graduation, comes the responsibility of company secretaries.
"As secretaries of various corporations, you will be eventually the custodian of the corporate governance," he said.
Professor Niaz Ahmed Khan said corporate governance has been a national weakness for the Bangladeshi organisations.
"You company secretaries ought to be the vanguard of corporate governance at your level," he said.
Professionals, government officials, chartered secretaries and executives from leading corporate houses of Bangladesh joined the event that followed a seminar on "Reforms of the Companies Act".
ICSB former President and Council Member Mohammad Sanaullah presented the keynote paper while ICSB council members Azizur Rahman and Salim Ahmed were discussants of the keynote.
Abdur Rahim Khan said moves were underway to discuss reforms of the Companies Act in the cabinet.
In the changing local and global contexts, amendments are coming, he said, adding RJSC has already adopted automation in different aspects.
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