Bangladeshi companies have received 21 South Asian Federation of Accountants (Safa) awards – the highest – in different categories.
The Institute of Chartered Accountants of Sri Lanka Wednesday organised the Safa Best Presented Annual Report Awards, Integrated Reporting Award, and Saarc Anniversary Award for Corporate Governance Disclosures 2020 online.
Bangladesh’s Bank Asia, Shahjalal Islami Bank, LankaBangla Finance, and IDLC Finance won awards – which are considered the most prestigious accolades for financial reporting in the South Asian Association for Regional Co-operation (Saarc) countries – in more than one category.
Winners from Bangladesh received awards from the Institute of Chartered Accountants of Bangladesh (ICAB). On behalf of Safa, ICAB President Md Shahadat Hossain handed over the prizes to them.
Bank Asia (Bangladesh) became the “overall winner,” Rupali Bank (Bangladesh) and Fauji Fertiliser Company (Pakistan) joint first runners-ups, and Shahjala Islami Bank (Bangladesh) second runner-up.
In the private sector banking institutions category, Bank Asia became the winner, Shahjalal Islami Bank first runner-up; and Bank Alfalah (Pakistan) and MCB Bank (Pakistan) joint second runners-ups.
Prime Insurance (Bangladesh) became the winner in the insurance category, Reliance Insurance (Bangladesh) first runner-up; Softlogic Life Insurance (Sri Lanka), Jubilee General Insurance (Pakistan) and Union Assurance (Sri Lanka) joint second runners-ups.
IDLC Finance (Bangladesh) became the winner, Bangladesh Finance first runner-up; Alliance Finance Company (Sri Lanka), People’s Leasing & Finance (Sri Lanka) and First Habib Modaraba (Pakistan) joint second runners-ups in the financial services sector.
In the manufacturer category, Fauji Fertiliser became the winner, British American Tobacco and RAK Ceramics (Bangladesh) joint first runners-ups and GSK Consumer Healthcare (Pakistan) and Engro Polymer and Chemical (Pakistan) joint second runners-ups.
In the communication and information technology category, Sri Lanka Telecom became the winner and Grameenphone (Bangladesh) first runner-up.
Singer Sri Lanka Telecom became the winner and Unique Hotel and Resort (Bangladesh) first runner-up in the service sector (excluding financial services, communication and IT sector).
Ghashful (Bangladesh) became the winner and Sajida Foundation (Bangladesh) first runner-up in the non-governmental organisation (NGO) category.
In the Saarc Anniversary Award for Corporate Governance, Bank Asia became the winner and Shahjalal Islami Bank and LankaBangla Finance (Bangladesh) joint first runners-ups.
In the integrated reporting category, IDLC Finance (Bangladesh) and National Development Bank (Sri Lanka) became joint winners; Fauji Fertiliser (Pakistan) first runner-up and LankaBangla Finance (Bangladesh) and John Keells Holdings (Sri Lanka) second runners-ups.
Safa, an association of the national chartered accountancy and cost and management accountancy institutions in Saarc countries, has been organising the Best Presented Annual Report Awards since 1997 in different categories including, banking, financial services, communication and information technology, and NGO.
Also, it initiated the Saarc Anniversary Award for Corporate Governance Disclosures in 2006 and the Integrated Reporting Award in 2015.
Source: United News of Bangladesh