Dhaka:SMAC Advisory Services Limited has recommended a phased and practical implementation of the proposed Bangladesh Securities and Exchange Commission (BSEC) Corporate Governance Rules 2026. This approach aims to enhance board oversight, protect investors, and ensure companies can comply effectively with the new requirements.
According to Bangladesh Sangbad Sangstha, the recommendations were made during a roundtable titled "Strengthening Corporate Governance in Bangladesh" held at Renaissance Dhaka Gulshan Hotel. BSEC Commissioner Hossain Sadat attended as the guest of honour, along with regulators, market participants, and other stakeholders who discussed the draft Corporate Governance Framework 2026.
Snehasish Barua, managing director of SMAC Advisory Services Limited, emphasized the significance of independent directors, accountability, and transparency in fostering confidence in the capital market. He stated that these elements are crucial for institutional good governance and long-term value creation.
Zareen Mahmud Hosein, director of SMAC Advisory Services Limited, suggested regional comparisons and recommended clearer definitions for related-party transactions, risk oversight, and sustainability disclosures aligned with IFRS S1 and S2.
The panel discussion, moderated by Barua, included experts like Lopa Rahman, Prof Dr Melita Mehjabeen, and others, focusing on board effectiveness, related-party transactions, and investor protection. Rahman discussed leadership assessment, while Mehjabeen highlighted the need for boards to balance oversight with organizational context.
Afseen Baten advocated for clear valuation assessments of related-party transactions. Md Munir Hossain and Ahsan Habib stressed the importance of transparency and identifying compliance gaps to protect investors.
Concerns about the implementation timeline and minority shareholders' rights were raised during the session. BSEC Commissioner Hossain Sadat assured that stakeholder feedback and policy implications would be considered to develop an investment-friendly governance framework by the end of the year.