With exceptions of some financial institutions, the country seriously lacks sound corporate practices and, instead, a family-based governance dominates various sectors, a seminar was told on Monday.
It observed that deviations from corporate practices, such as transparency in share transfer, holding annual general meetings and making financial disclosure are common in Bangladesh Inc despite slight improvement it saw during the last few years.
‘We have manifestations of deviation from corporate governance and also there are clear signs of improvement,’ the chairman of the Securities and Exchange Commission, Mirza Azizul Islam, said.
‘If we are wedded to corporate governance, we will be open to much better insight,’ he told the seminar on ‘corporate governance and control.’
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