BRAC Bank wins 3 awards from ICAB for 2019 annual report

BRAC Bank has won three awards for its 2019 annual report at the recently held 20th ICAB National Awards for Best Presented Annual Reports.

Each year, the Institute of Chartered Accountants of Bangladesh (ICAB) recognises annual reports to promote transparent reporting and adequate disclosures through the application of accounting or financial reporting and auditing standards.

This year, in its 20th award ceremony, ICAB awarded 23 organisations in 12 different categories, including private sector banks, financial services sector, manufacturing, communication and IT, insurance, public sector, NGOs, service sector, agriculture, integrated reporting, corporate governance and overall winner for their 2019 annual reports, according to a press release.

Commerce Minister Tipu Munshi handed over the prizes to the winners at an event held at the Pan Pacific Sonargaon Hotel in Dhaka on November 26.

BRAC Bank won the first prize among the private sector banks category and shared the third position in both “governance disclosure” and “integrated reporting” categories.

Commenting on this prestigious awards, M Masud Rana, deputy managing director and chief financial officer of BRAC Bank, said: "We dedicated our 2019 Annual Report to the memory of Sir Fazle Hasan Abed, and we promised to carry on his teachings and visions. These recognitions truly reflect our promise to him to maintain strong corporate governance, transparency, ethics, and compliance."

A nine-member jury board reviewed the recommended list of the award winners.

Selim RF Hussain, the managing director and CEO of the bank, said: "It is indeed an honour for BRAC Bank to receive three awards in the 20th ICAB National Award for Best Presented Annual Reports. We want to take this opportunity to thank all our customers and stakeholders for their continued patronage and unwavering trust in BRAC Bank."