Dhaka:Commerce Minister Khandakar Abdul Muktadir has emphasized the critical importance of corporate governance as a foundation for sustainable economic development, institutional transparency, and enhanced business competitiveness.
According to United News of Bangladesh, the minister articulated that corporate governance is not merely a matter of legal compliance but a crucial prerequisite for an institution's long-term sustainability, investor confidence, and fostering a responsible business environment. He made these remarks at the "13th ICSB National Award 2025 for Corporate Governance Excellence," hosted by the Institute of Chartered Secretaries of Bangladesh (ICSB) at a city hotel.
The minister underscored that financial success without governance and accountability cannot guarantee sustainable organizational progress. He highlighted the importance of transparency, accountability, ethical leadership, and responsible decision-making in navigating the fast-changing global business environment. Additionally, he mentioned that effective corporate governance balances the interests of various stakeholders, including shareholders, board members, and regulators.
Muktadir also expressed concern over weak governance in the banking sector, noting past measures to ensure transparency that had been relaxed, impacting financial stability. He stressed strengthening corporate governance and oversight to protect consumer rights in financial institutions.
Addressing administrative challenges, he called for simplifying public services and digitalizing processes to foster a more investor-friendly environment, as these complexities often discourage potential investors in Bangladesh.
The minister praised the ICSB for its efforts in promoting corporate governance and recognized the role of their awards in encouraging a culture of integrity and professionalism. He expressed hope for continued collaboration between the Ministry of Commerce and the ICSB to enhance governance practices in the corporate sector.