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ANNUAL GENERAL MEETINGANNUAL GENERAL MEETING49th49th
The 49th Annual General Meeting of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) was held on Friday, January 1, 2021 at ICMAB Ruhul Quddus Auditorium, ICMA Bhaban, Nilkhet, Dhaka.
Mr. Md. Jasim Uddin Akond FCMA, President of the Institute presided over the meeting. The program was started with the recitation from the Holly Quran. One minute silence was observed in remembrance of 16 members who left us this world in 2020.
Mr. Abu Bakar Siddique FCMA, Vice President, presented the activities and progress of the examination system. Mr. Md. Mamunur Rashid FCMA, Vice President, presented the activities and developments of education matters. Mr. Md. Munirul Islam FCMA, Secretary, presented the report of the Institute’s Council for the year 2019-2020. Mr. Md. Ali Haider Chowdhury FCMA, Treasurer, presented the Audited Accounts and Financial Reports of the Institute for the year 2019-2020. Later on, honorable members of the institute expressed their thoughts and opinions regarding the annual report. ICMAB President Mr. Md. Jasim Uddin Akond FCMA thanked everyone for being compassionate and cooperative in the cause of institute and CMA profession in this tough year of pandemic.
Past Presidents, Council Members and a large number of Fellow and Associate Members of the Institute attended the Annual General Meeting.
50 THE COST AND MANAGEMENT ISSN 1817-5090, VOLUME-49, NUMBER-01, JANUARY-FEBRUARY 2021
NEWS
The 17th Council of the Institute in its 1st meeting held on February 27, 2021 elected the following Office Bearers for the year 2021:
1. Mr. Abu Bakar Siddique FCMA President
2. Mr. Md. Mamunur Rashid FCMA Vice-President
3. Mr. Md. Munirul Islam FCMA Vice-President
4. Kazi Muhammad Ziauddin FCMA Secretary
5. Mr. A.K.M. Kamruzzaman FCMA Treasurer
New President of ICMAB Mr. Abu Bakar Siddique FCMA presided over the 17th meeting of the17th Council of the Institute held on February 27, 2021
Institute's newly elected President Mr. Abu Bakar Siddique FCMA is congratulated by immediate past President Mr. Md. Jasim Uddin Akond FCMA on February 27, 2021 after assuming his presidentship
President's Dinner The Councilors and past Presidents and Past Vice Presidents of the Institute were invited by the immediate Past President Mr. Md. Jasim Uddin Akond FCMA to kindly participate in a President's Dinner in Pan Pacific Sonar Hotel, Dhaka held on February 27, 2021 and to offer suggestions for betterment of the Institute and the profession. Among the Past Presidents Mr. Rafiq Ahmad FCMA, Mr. Md. Uttam Ali Miah FCMA, Mr. Md. Abdul Aziz FCMA, Mr. Abu Sayed Md. Shaykhul Islam FCMA and Mr. A. K. M. Delwer Hussain FCMA attended the meeting. The council members also attended the dinner.
New Office Bearers of the Institute for 2020
Abu Bakar Siddique FCMA President
Mr. Abu Bakar Siddique FCMA has been elected President of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) in its meeting held on 27 February 2021. Prior to his new role, Mr. Abu Bakar Siddique was the Vice-President of the Institute for last year and Chairman of the Dhaka Branch Council of ICMAB for the year 2000 and Member of the National Council for the term 2017-2019.
Mr. Siddique, a veteran Fellow Member of the Institute, has been serving as Executive Vice President & CFO, Kohinoor Chemical Co. (BD) Ltd and Group Reedisha. He is an Independent Director and Chairman Audit Committee of Renwick Jajneswar & Co. (BD) Ltd. He is a long experienced personality and served different organizations in different capabilities. He was the General Manager of Sinha Textile Group, Financial Management and Accounting Specialist of a project of LGED, Research Officer of ERD, Ministry of Planning, Government of Bangladesh, UNDP & GoB funded project of ICMAB as Project Director, Accounting Consultant of the project of BPDB & DESA and as Chief Executive as Director of ICMAB.
He actively participated in various committees of ICMAB. He served as a Member of Accounting Standard Committee of SAFA. He received Atish Dipankar Gold Medal-2016 for special contribution in Business and Commerce awarded by Atish Dipankar Smriti Parishad. He participated in many training programs and seminars on financial issues in home and abroad.
He obtained his post-graduation degree in Management from the University of Dhaka and stood 1st class 3rd position. He obtained training on Program & Project Development and Management from Asian Institute of Management (AIM), Manila, Philippines.
Md. Mamunur Rashid FCMA Vice President
Mr. Md. Mamunur Rashid FCMA, a Fellow Member of the Institute of Cost &
Management Accountants of Bangladesh (ICMAB), was born in Bogra District on
the 31st of December 1967. His academic brilliance was revealed when Mr. Rashid
obtained his undergraduate degree in Bachelors of Commerce in the year 1987
and his post- graduation degree in Masters of Commerce (Management) in the
year 1989, securing First Class 2nd Position and First Class 4th Position respectively
both under the educational guidance and accreditation of University of Dhaka.
Presently Mr. Rashid is serving as Deputy Managing Director at Index Group
of Companies. He is also serving as the Independent Director at West Zone
Power Distribution Co. Ltd- An enterprise of Bangladesh Power Development
Board and Board Director of several sister concern of Index Companies. He
has been elected as the Vice President of Bangladesh Ceramics Manufacturers
and exporters Association (BCMEA) and the governing body member
of Federation of Bangladesh Chamber & Commerce Industry (FBCCI).
His career lifted off when he started as an officer of Bangladesh Steel & Engineering
Corporation (BSEC) in the year 1989. After that he accumulated a wealth of
Md. Munirul Islam FCMA Vice President
Mr. Md. Munirul Islam FCMA has been elected Vice President of the
Institute of Cost and Management Accountants of Bangladesh (ICMAB)
for the term 2021. He is currently working as Head of Human Resources
in Aristopharma Limited, one of the top 10 pharmaceuticals companies in
Bangladesh. He served as a council member for the last two terms of 2014-
2016 & 2017-2019 and has been elected again for the term of 2020-2022.
Mr. Islam has been actively associated with the activities of Dhaka Branch
Council (DBC) and National Council of ICMAB for around 20 years in multiple
capacities. He was the Chairman of Dhaka Branch Council in 2011 and Vice/
Acting Chairman in 2010. He was also the Secretary of DBC in 2009. He also
served this institution as a Part-Time faculty member for around 15 years.
Mr. Islam is the founding President of Bangladesh Pharma HR Society (BPHRS),
Director of Federation of Bangladesh Human Resource Organization
(FBHRO), Life Member of HR Club, President at Lions Club of Dhaka Lilly
Garden and Life Member of Bangladesh Numismatic Collector Society.
Mr. Islam is presently working as a part-time faculty at Southeast University. He
was former part-time faculty of East West University and guest faculty of AIUB
and Stamford University. He is also a trainer for Financial Management, Cost
Accounting, Technical & Managerial Skill Development and Implementation of HR
practices under the Quality Management System. Mr. Islam did his M. Com and
experience via serving in the following influential designations and esteemed
organizations: He served as Chief Financial Officer at Kazi Farms Group, Director of
Finance at Sheba Phone, Financial Controller & Company Secretary at Summit Power
Limited, Chief Accountant at BRAC-Aarong, and Finance Manager at Desh Group
of Companies. He also served in Government organizations namely, Bangladesh
Power Development Board (BPDB) and Bangladesh Parjatan Corporation (BPC).
Mr. Rashid successfully completed a one year International Diploma in MIS & IT,
validated by NCC Education Services, United Kingdom (U.K) which was conducted
by BRAC Information Technology Institute (BITI), Bangladesh, in the year 2000.
He has been actively associated with the National Council of ICMAB. Currently
he is serving as the Council member of the National Council of ICMAB. He has
also served as Vice-Chairman in the year 2004 and Secretary in 1999 & 2002 of
the Dhaka Branch Council of ICMAB. Mr. Rashid served as the Executive Secretary
of South Asian Federation of Accountants (SAFA) for the year 2013. He has
been blessed with his wife Jesmin Sultana and two daughters Tanha & Tahiya.
Md. Munirul Islam FCMA Vice President
Kazi Muhammad Ziauddin FCMA Secretary
Kazi Muhammad Ziauddin FCMA has been elected Secretary of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) in its meeting held on 27 February 2021. Kazi Muhammad Ziauddin born in an ancient and famous Muslim Kazi Family in Gopalgonj Bangladesh. After that he passed his adolescent time tin Khulna. He passed with Merit distinction in HSC from Azam Khan Commerce College Khulna. He also secured talent pool merit in his school level.
Kazi Muhammad Ziauddin admitted Dhaka University in 1993-94 session Department of Finance and Banking. He secured First class with merit place and also stood First class second position in Masters from the same Department. Veteran professional Ziauddin did his MBA from Department of Marketing, University of Dhaka.
All through commerce background Ziauddin also pursued his Prestigious CMA degree from ICMAB Bangladesh with some professional records in 2004. At the same year he joined Bangladesh Civil Service as assistant commissioner Department of Customs and Value Added Tax NBR. Before that he was a banker of a leading commercial bank and Full time faculty of a Private University.
In this 20 years of Experience Ziauddin worked throughout the country and specially Dhaka for different Government assignments like in HSIA Dhaka Airport, ICD Kamalapur, NBR, VAT Online Project, Chattogram Customs House and Department of Ciatoms Intelligence Bangladesh. As a trainer of customs and VAT he is also now working as ADG in Customs Academy.
Sound CMA professional Ziauddin actively involved in the process of development of the Institute to the ultimate benefits of the National Economy and wellbeing of the esteemed members. He lead at the Dhaka Branch Council in different capacity and also Chairman there. He is actively working in National Council of ICMAB last two terms. He is also served as Treasurer and Publication Secretary in BCS Customs and VAT association.
His area of interest is Good Governance in Public sector through compliance and fiscal discipline, Tourism marketing in Bangladesh and Implementation of Coat Audit for securing earning of Indirect Tax by NBR. Mr Ziauddin is keenly works with ICMAB and VAT Online projects for its highest partnerships for effective launch of Training for the Customs and VAT officers.
MBA in Accounting & Information System (AIS) from the University of Dhaka.
Mr. Islam was born in Dhaka and his home district is Chandpur. He is the
5th son of Late Abdul Hamid Pathan, a professional banker & Late Anwara
Khatun. He is married and blessed with one son. His wife Ms. Tahmina Shema
is also a professional lady and previously worked in Beximco Group for about
15 years. His only son Mr. Zulkarnain Islam (Rahil) is presently pursuing
his BBA at Institute of Business Administration (IBA), University of Dhaka.
A. K. M. Kamruzzaman, FCMA Treasurer
Mr. A. K. M. Kamruzzaman, FCMA has been elected Treasurer of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) in its meeting held on 27 February 2021. Mr. A. K. M. Kamruzzaman, FCMA is currently working as the Senior Executive Vice President & Head of Operations at LankaBangla Finance Ltd. Prior to his current role in LankaBangla, he got the opportunity to head Credit & Investment Division and subsequently Business Division-I till 2008 responsible for business development, credit appraisal and credit risk management in corporate, retail and SME businesses. During that time, through additional role, he got the opportunity to lead HR & administration as Head and Board Secretariat as Company Secretary, both for almost 3 years.
He is also currently a nominated Director by LankaBangla Finance Ltd in the Board of LankaBangla Asset Management Company Ltd. Earlier, he was also a Director in the Board of Directors of MIDAS Financing Limited.
Prior to joining LankaBangla, he worked for Textile & RMG sector of the country in different capacities in Accounts & Finance, Commercial, and Merchandising, for about 4 years, which provided him with a direct exposure in the leading industrial sector of the country.
A Member of the Committee for Improvement in Transparency, Accountability & Governance (ITAG) of the South Asian Federations of Accountants (SAFA), Mr Kamruzzaman is currently a National Council Member and the Chairman, Training Committee of the Institute of Cost & Management Accountants of Bangladesh (ICMAB). He is also Member of a wide number of different committees of ICMAB. Earlier in 2018, he served as the Chairman of the Dhaka Branch Council of ICMAB and prior to that, for consecutive 4 years from 2014-2017 he served as an elected member of the DBC of ICMAB.
An MBA from IBA and M. Com. in Accounting, both from the University of Dhaka, Mr Kamruzzaman is a part time trainer in Bangladesh Institute of Bank Management (BIBM) and Bangladesh Leasing and Finance Companies Association (BLFCA). He also got the opportunity as a Guest Faculty in the Institute of Business Administration (IBA) of the University of Dhaka.
Mr. Kamruzzaman has received wide ranges of trainings and professional development programs including personal development home and abroad in Malaysia, Thailand, Singapore, Sri Lanka, India, France, Germany, Switzerland and Italy.
Interaction Session with students on ICMAB New Curriculum 2021
The Institute of Cost and Management Accountants of Bangladesh (ICMAB) is at the verge of introducing a new Syllabus. Present Council has a vision as well as electoral mandate to deploy new Syllabus. In this regard, the Institute organized an Interaction Session on “ICMAB New Curriculum 2021” held on January 03, 2021 at 6.30 p.m. physically at ICMAB Ruhul Quddus Auditorium, ICMA Bhaban, Nilkhet, Dhaka as well as online through “BdREN Zoom Video Conferencing”.
Dr. Syed Abdulla Al Mamun FCMA, talked about analytical framework of ICMAB Curriculum 2021. He commented that the proposed syllabus will be scalable and flexible. He further added that the New Curriculum 2021 would be aligned with IFAC framework and IAESB Guideline & Framework. He illustrated the flow of Curriculum development. He mentioned that the conversion policy would be such that it would reduce the extra burden from students. He thanked the team leaders and content writers of the pillars to make this tremendous job happen. He also thanked Mr. Md. Jasim Uddin Akond FCMA, President, ICMAB and Mr. Md. Mamunur Rashid FCMA, the Chairman, Education Committee & Vice President, ICMAB for their dynamic leadership.
Honorable President of the Institute Mr. Md. Jasim Uddin Akond FCMA attended the program as Chief Guest. President of South Asian Federation of Accountants (SAFA) and Past President of ICMAB Mr. A. K. M. Delwer Hussain FCMA and Council Member and Past President Mr. Abu Sayed Md. Shaykhul Islam FCMA were also present.
Mr. Md. Mamunur Rashid FCMA, the Chairman, Education Committee & Vice President, ICMAB made inaugural speech and moderated the program. Vote of thanks was given by Mr. Md. Bakhtiar Alam FCMA, Vice Chairman, DBC, ICMAB.In Q & A session, around 5 students raise 6-7 types of questions regarding syllabus. Respective authority answered those questions. It is notable that, the President of the Institute announced that there will be three exam sessions in a year which will reduce the time of completing the CMA degree. Around 400 students were physically present in Auditorium. Around 160 students were connected in Zoom. Around 200 were connected in FB live. In total around 760 students participated the program.
ICMAB organized a series of “Cost Audit” Workshop The Institute of Cost and Management Accountants of Bangladesh (ICMAB) arranged a series of workshop on ‘Cost Audit’ which was conducted by Indian Cost Consultants. An Inaugural Ceremony for the workshop took place on 4th January 2021 at ICMAB Ruhul Quddus Auditorium. Honorable Commerce Secretary Dr. Md. Jafar Uddin attended the event as Chief Guest.
Mr. A. K. M. Delwer Hussain FCMA, President, South Asian Federation of Accountants (SAFA) and CMA Biswarup Basu, President, The Institute of Cost Accountants of India (ICAI) attended as special guest.
Chief Guest Dr. Md. Jafar Uddin said he would take necessary steps for the development of this profession and the Institute. He expressed his positive and hopeful approach for the profession and commented that cost accountants could do a great role for the development and clarity of our economy. He also thanked The Institute of Cost Accountants of India (ICAI) for their attachment with this workshop and contribution for this profession. He thanked honorable Prime Minister Sheikh Hasina for her courageous steps for the development of this country.
Special Guest Mr. A. K. M. Delwer Hussain FCMA said that, CMA professionals can create a great impact by putting their expertise for ensuring clarity in various economic aspects. He requested the honorable chief guest to create more scope for the CMA professionals in relevant fields so that they can give their effort for the development of this country. He also praised the effort of Commerce Ministry to establish the identity of CMA professionals as Cost Auditor.
ICMAB President Mr. Md. Jasim Uddin Akond FCMA thanked all the honorable guest and participants, and particularly emphasized on the Cost Audit Certification by a professional CMA firm or professional for every listed companies. He thanked ICAI for their effective approach of mutual cooperation. He said that CMA professionals can create a great impact by putting their expertise in ensuring clarity in various economic aspects. He requested the honorable chief guest to create more scope for the CMA professionals in relevant fields so that they can give their effort for the development of this country.
Council Member & Past President of ICMAB and Chairman, Cost Audit & Professional Consultancy Cell Committee Mr. Abu Sayed Md. Shaykhul Islam FCMA also delivered a speech where he highlighted the necessity of cost audit in all relevant sector of the economy.
Mr. Md. Ali Haider Chowdhury FCMA, Treasurer, ICMAB moderated the entire program connecting the audience and discussants and also gave his analysis regarding the occasion. Mr. Abu Bakar Siddique FCMA, Vice President, ICMAB gave the vote of thanks to the participants and audience of the program.
4 technical sessions were conducted in this workshop on 5th, 12th, 19th and 27th January of 2021. CMA Dr. Ashish P. Thatte, CMA Neeraj D. Joshi, CMA P Raju Iyer and CMA B. B. Goyal conductd the sessions.
ICMAB arranged Cost Audit Workshop by Indian Experts
The Institute of Cost and Management Accountants of Bangladesh (ICMAB) has organized a special series of workshops on cost audit. Yesterday, January 12, 2021 AD. Mr. Lokman Hossain Mia, Hon’ble Secretary, Ministry of Textiles and Jute was present as the Chief Guest at the ‘Cost Audit in Textile Industry’ session.
Mr. A. K. M. Delwer Hussain FCMA, President of SAFA and former President of ICMAB was the special guest on the occasion. The resource person was CMA Neeraj D. Joshi.
Chief Guest Mr. Lokman Hossain Miah said that, Bangladesh is now self-sufficient. Now we are not dependent on anyone for anything. No one stays hungry now, everyone gets food. We have also successfully dealt with the difficult situation in Corona due to the courageous steps of the Hon’ble Prime Minister.”All our work is accountable to the people,” he added. Today we are in that position, all with the money earned by the common man. So we have to be accountable to them through our work. He described the workshop as very timely and called upon the CMA professionals to play a dedicated role for all in the country and the nation through their work.
Special Guest Mr. A. K. M. Delwer Hussain FCMA appealed to the Hon’ble Secretary for appropriate assistance to further expand the job opportunities for CMA professionals so that they can play an important role in the national economic development by utilizing professional skills. He also thanked ICA India for its significant contribution to the workshop.
ICMAB President Mr. Md. Jasim Uddin Akand FCMA in his speech highlighted the cost and management accounting profession and its need in various important sectors. On behalf of the Institute, he drew the attention of the chief guest to the development of the national economy by properly enforcing the issue of making cost audit mandatory in all limited companies as per government guidelines.
Mr. ASM Shaykhul Islam FCMA, Council Member and former President, ICMAB, now Chairman of the Cost Audit and Professional Consultancy Cell Committee, briefed on the need for cost auditing in all sectors of the economy.
ICMAB Vice President Mr. Md. Mamunur Rashid FCMA conducted the program and presented his views on the topic. ICMAB Secretary Mr. Md. Munirul Islam FCMA delivered the welcome address on the occasion. ICMAB Vice President Mr. Abu Bakar Siddique FCMA thanked all the participants in the event.
ICMAB arranged Discussion on AI and Blockchain in Capital Market
A discussion meeting titled ‘Artificial Intelligence and Blockchain Applications in Capital Market’ was organized by the Institute of Cost and Management Accountants of Bangladesh (ICMAB) on 19 January 2021. Bangladesh Securities and Exchange Commission (BSEC) Chairman Prof. Shibli Rubaiyat-ul Islam was present as the chief guest.
Mr. AKM Delwer Hussain FCMA, President of South Asian Federation of Accountants (SAFA) was the special guest on the occasion. Dr. Hajik Mohammad, Managing Director, Stellar Consulting Group (Singapore), Fintech Expert / Trainer, iFintel Business Intelligence (Malaysia) was the resource person.
Chief Guest Professor Shibli Rubaiyat-ul Islam highlighted the importance of CMA profession for the economic development of Bangladesh. He opined that CMA professionals have an important responsibility to create transparency in the economy. Moreover, he expressed his desire for the implementation of cost audit and showed his commitment to take appropriate steps for the development of the profession.
Special Guest Mr. AKM Delwer Hussain FCMA called for further expansion of job opportunities for CMA professionals. He appealed to the Honorable Chief Guest for proper assistance so that they can play an important role in the development of the national economy by utilizing their professional skills. He said if the cost audit is implemented, the country’s economy will develop. Revenue will increase. So, it is important to ensure this in the national interest.
In his speech, ICMAB President Mr. Md. Jasim Uddin Akond FCMA highlighted the cost and management accounting profession and its need for various important sectors. On behalf of the Institute, he drew the attention of the chief guest to the development of the national economy by making it appropriate to make cost audit compulsory in all limited companies as per government guidelines.
ICMAB Vice President Mr. Md. Mamunur Rashid FCMA presented comments and views on the topic at the event. Former Chairman of ICMAB Dhaka Branch Council Mr. G M Omar Farooq Chowdhury FCMA conducted the main function. ICMAB Treasurer Mr. Md. Ali Haider Chowdhury FCMA gave vote of thanks to all the participants who joined the event.
Inauguration of ICMAB Rajshahi Branch Building Institute of Cost and Management Accountants of Bangladesh (ICMAB) inaugurated its Rajshahi branch building on Friday 22 January 2021. Honorable Mayor of Rajshahi City Corporation Mr. AHM Khairuzzaman (Liton) inaugurated the event as the Chief Guest. Mr. AKM Delwer Husssain FCMA, President of South Asian Federation of Accountants (SAFA) was also present as special guest on the occasion. ICMAB President Mr. Md. Jasim Uddin Akond FCMA, Vice President Mr. Md. Mamunur Rashid FCMA, Secretary Mr. Md. Munirul Islam FCMA,
Treasurer Mr. Md. Ali Haider Chowdhury FCMA, Rajshahi University Professor Dr. Akhtar Uddin FCMA were also present on the occasion.
The guests expressed hope that the facility of CMA studies in Rajshahi would be improved through this infrastructure and the profession would expand.
ICMAB arranged ‘Cost Audit in Garment Sector’ Workshop
The Institute of Cost and Management Accountants of Bangladesh (ICMAB) organized a workshop on ‘Cost Audit in Garments Sector’ at ICMAB Ruhul Quddus Auditorium, ICMAB Bhaban, Dhaka on January 24, 2021. Mr. Anwar-ul Alam Chowdhury (Parvez), President, Bangladesh Chamber of Industries (BCI) and former President the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) was present as the Chief Guest at the session.
Mr. A. K. M. Delwer Hussain FCMA, President of SAFA was the special guest on the occasion. The resource person was Indian cost Audit expert CMA P Raju Iyer.
ICMAB President Mr. Md. Jasim Uddin Akand FCMA presided over the workshop. Mr. ASM Shaykhul Islam FCMA, Chairman of the Cost Audit and Professional Consultancy Cell Committee and ICMAB Vice President Mr. Abu Bakar Siddique FCMA also attended the program.
ICMAB Treasurer Mr. Md. Ali Haider Chowdhury FCMA conducted the program.
ICMAB delegate meets Financial Institutions Division Secretary
A delegation of ICMAB led by its President Mr. Md. Jasim Uddin Akand FCMA called on Mr. Md. Ashadul Islam, Senior Secretary, Financial Institutions Division, Ministry of Finance, Government of the People’s Republic of Bangladesh at his office on January 27, 2021 to discuss national economic issues and professional matters related to ICMAB.
The ICMAB President commended the Senior Secretary regarding the present status and activities of the Institute and sought all out support from the Government for its further and rapid development.
The Senior Secretary highly appreciated the role of the professional accountants in the economic development of the country and assured full co-operation for the development of CMA profession.
Among others, President of SAFA Mr. A. K. M. Delwer Hussain FCMA and Treasurer Mr. Md. Ali Haider Chowdhury FCMA were present in the meeting.
ICMAB Workshop on Cost Audit in Fertilizer Industry
The Institute of Cost and Management Accountants of Bangladesh (ICMAB) arranged a workshop on ‘Cost Audit in Fertilizer Industry’ on January 27, 2021 at ICMAB’s Ruhul Quddus Auditorium, Nilkhet, Dhaka. Indian expert CMA BB Goyal, Advisor, Institute of Cost Accountants of India (ICAI) presented the paper in a webinar. A large number of members participated in the workshop physically and through a webinar.
Mr. Mr. A. K. M. Delwer Hussain FCMA, President of South Asian Federation of Accountants (SAFA) was present as the Chief Guest at the ‘Cost Audit in Fertilizer Industry’ session. ICMAB President Mr. Md. Jasim Uddin Akand FCMA presided over the workshop. Past President of ICMAB Mr. ASM Shaykhul Islam FCMA was Present as the Session Chairman.
Chief Guest Mr. A. K. M. Delwer Hussain FCMA said that, CMA professionals can create a great impact by putting their expertise for ensuring clarity in various economic aspects. ICMAB President Mr. Md. Jasim Uddin Akond FCMA thanked ICAI for their effective approach of mutual cooperation. Mr. Abu Sayed Md. Shaykhul Islam FCMA, in his speech, highlighted the necessity of cost audit in all relevant sector of the economy.
Mr. Md. Ali Haider Chowdhury FCMA, Treasurer, ICMAB moderated the entire program connecting the audience and discussants and also gave his analysis regarding the event. Mr. Abu Bakar Siddique FCMA, Vice-Pesident, ICMAB gave the vote of thanks to the participants and audience of the program.
Reception to the newly qualified CMA's & Inauguration of Capacity Development programme
The Council of The Institute of Cost and Management Accountants of Bangladesh (ICMAB) accorded an open hall reception to the students who successfully passed CMA June 2020 final examination and inaugurated the Capacity Development Programme launched by the Institute. The program was held on January 30, 2020 at ICMAB Ruhul Quddus Auditorium.
Honorable Commerce Secretary of GoB Dr. Md. Jafar Uddin attended the programme as Chief Guest while President of South Asian Federation of Accountants (SAFA) Mr. A. K. M. Delwer Hussain FCMA were present as special guest. 53 students who successfully qualified to achieve the prestigious CMA degree were warmly greeted and briefly introduced before the audience.
Dr. Md. Jafar Uddin congratulated the newly passed CMAs. He said, “To enrich yourselves you must learn and know about everything around you.” He informed that during this COVID situation Bangladesh achieved 20 billion USD as export earnings. Honorable Prime Minister Sheikh Hasina took a prompt and courageous decision made this possible- he mentioned. Commerce Secretary assured that he will take necessary steps for the development of this profession and the Institute.
Mr. A. K. M. Delwer Hussain FCMA said that, CMA professionals can create a great impact by putting their expertise for ensuring clarity in various economic aspects. He warmly greeted the newly passed CMAs.
ICMAB President ICMAB President Mr. Md. Jasim Uddin Akond FCMA thanked all the honorable guest and participants, and congratulated the newly passed CMAs. He said that their family did a lot for their success and achievement, so they must take a great care to the people who are close to them. Mentioning about the professional identity, he said that their journey starts in a new way today; they have to take responsibility of this profession and institute in future.
ICMAB Vice Presidents Mr. Abu Bakar Siddique FCMA and Mr. Md. Mamunur Rashid FCMA; Treasurer Mr. Md. Ali Haider Chowdhury FCMA also gave their speech in the programme. Past Presidents, Council Members, large number of Fellow and Associate Members of the Institute and a large number of running students attended the programme.
SAFA International Conference on “Digitalization of Accounting & Auditing: Challenges and opportunities to protect public interest” ICMAB organised a 2 day long SAFA International Conference on the theme “Digitalization of Accounting & Auditing Practices: Challenges and Opportunities to Protect Public Interest” on February 05 & 06, 2021 at Pan Pacific Sonargaon Hotel and ICMAB Ruhul Quddus Auditorium, Dhaka respectively.
Hon’ble Minister, Ministry of Planning, Government of the People’s Republic of Bangladesh Mr. M. A. Mannan MP was present on the occasion as the Chief Guest and inaugurated the Conference while Mr. Mohammad Muslim Chowdhury, Comptroller and Auditor General of Bangladesh & Dr. Md. Jafar Uddin, Secretary, Ministry of Commerce, Government of the People’s Republic of Bangladesh address as the Special Guests. Prof. Dr. Md. Hamid Ullah Bhuiyan, Chairman, Financial Reporting Council (FRC) Bangladesh presented Keynote paper at the conference.
Mr. A.K.M. Delwer Hussain FCMA, President SAFA presided over the Conference while SAFA Vice-President H M Hennayake Bandara attended and address at the conference virtually all over from Sri Lanka.
Among others Mr. Md. Jasim Uddin Akond FCMA, President of ICMA Bangladesh; Mr. Mahmudul Hasan Khusru FCA, President of the Institute of Chartered Accountants of Bangladesh (ICAB); Mr. Md. Abdul Aziz FCMA, Chairman, SAFA International Conference-2021 and Mr. Md. Mamunur Rashid FCMA, Chairman, SAFA & International Relations Committee of ICMAB addressed on the inaugural session of the conference.
A total 5 Technical Sessions were held during the 2 days conference. Learned Resource Persons from home and abroad presented the time demanded technical papers and accounting professionals of SAARC region made commentary on the presented papers. Each session chairman moderate and conducted the sessions with profound capability that made the session vibrant and all the participants from home and abroad both physically and virtually witnessed and appreciated the sessions. The technical papers details are as follows:
Technical Session-I : Digital Transformation of Business : A new Era for Sustainable Business
Session Chairman : Mr. Md. Afzal Hossain Secretary, Posts & Telecommunications Division, Ministry of Posts & Telecommunications, Government of the People`s Republic of Bangladesh
Paper Presenter : Mr. Md. Abdul Kader Joaddar FCA, the Institute of Chartered Accountants of Bangladesh
Commentators : v CA. Naresh Abeysekera, ICA Sri Lanka & Founder/Chief Executive Officer, SECQUORO
v Mr. Imtiaz Alam FCMA Council Member, ICMA Bangladesh.
Session Report: There is a strong need for digital transformation; digital innovations are creating fundamentally new ways of providing value to consumers, transforming the business environment and changing the underlying consumer economy. The pandemic is not a short-lived phenomenon. Companies can no longer function under the premise that things will go back to “normal”. It will not happen. Your organization should deal with things as they are now and work to address how they will continue to be. This implies an absolute necessity to prepare for greater adaptability and flexibility in the future. In a post-pandemic age, the only way an organization will be able to survive is to undergo a digital transformation that takes into account all the lifestyle, economic and market shifts that the Covid 19 has introduced the world to. Your customers are adapting, and so should you. The pandemic has made it easier for us to start transforming practices with a new, open mindset and a widespread recognition of digital transformation’s value. Businesses that had proactively invested in and executed digital transformation strategies before the pandemic were likely in a better position to weather the storm and fared better even in times of distress.
It can be said that to create a sustainable business environment, every concerned business organization should focus on the automation process by transforming their businesses digitally using latest technologies. This transformation will not only make the business sustainable but also make the customers and stakeholders satisfied. It is very clear that digital transformation is the key to future and every country should think about going
digital with a view to keeping pace with the rest of the world to become prosperous and improve the overall socio-economic condition.
Technical Session-II : Changing Role of Professional Accountant in Digital & Global Economy.
Session Chairman : Mr. Jamal Ahmed Chiwdhury FCA, Former Chairman, Janata Bank Ltd., Bangladesh
Paper Presenter : CA. Dayaniwas Sharma, Central Council Member, Institute of Chartered Accountants of India (ICAI)
Commentators : v Mr. Ather Saleem, Chairman, CPD Committee and Member, National Council, ICMA - Pakistan
v Mr. Abu Sayed Md. Shaykhul Islam FCMA Past President & present Council Member, ICMA Bangladesh
Session Report: Digitization is going to bring bringing transformation in Way of Doing Business and is equally Challenging Professionals in Industry and Practice. Heading towards National Economy to Global Economy. Big or Small will have Different Playing Grounds. Manufacturing to Consumption based Economy. Harmonization of Tax Laws – E.g. International Tax Laws POEM etc. Opportunity to Design Effective Processes.
Panel Discussion
“Developing the Accountancy Profession in Digital Era: Role of Regional Bodies”
Session Chairman : Mr. Kevin Dancey, Chief Executive Officer, International Federation of Accountants (IFAC)
Panelists:
1. Mr. A.K.M. Delwer Hussain FCMA, President, South Asian Federation of Accountants (SAFA)
2. Mr. Salvador Marin, President, European Federation of Accountants and Auditors for small and medium-sized enterprises (EFAA)
3. Mr. Teerachai Arunruangsirilert, Deputy President, ASEAN Federation of Accountants (AFA)
4. Brian Blood, Chief Executive, Confederation of Asian and Pacific Accountants (CAPA)
5. Ms. Alta Prinsloo, CEO, Pan African Federation of Accountants (PAFA)
Session Summary: Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance– delivered in a responsible and sustainable way.” Financial inclusion is changing our life.
Day – 2 : 06 February 2021 : Venue : ICMAB Ruhul Quddus Auditorium Nilkhet, Dhaka
Technical Session-III : BPO (Business Process Outsourcing) – Opportunity to Expand the Economic Horizon of the Nation.
Time : 4:00 P.M. – 5:30 PM
Session Chairman : Dr. Atiur Rahman, Former Governor of Bangladesh Bank & Bangabandhu Chair Professor, University of Dhaka
Paper Presenter : Mr. Rana M. Usman Khan, Council Member, Institute of Chartered Accountants, of Pakistan
Commentator : Ms. Maria Howlader FCA, Vice President, ICA Bangladesh.
Session Summary: The Business Process Outsourcing (BPO) industry is boosting human capital and creating new job market at the economic front. Business Process outsourcing has become a multi-billion-dollar Industry globally it has brought visible benefits to the economy of the country and generating tremendous employment opportunities. Underemployment and low Underemployment and low Underemployment and low labour force participation.
Over the last couple of years, the worldwide business process outsourcing market has undergone rapid transformation. Continuing pressure on cost bases at a time of growing competitiveness is driving companies to look at offshore outsourcing as a strategic alternative.
Outsourcing is setting a foundation of digital economy. BPOs are encouraging economic activity and investments all around via using new technologies to accommodate the demands for faster and more streamlined service delivery.
Poor working conditions and low pay Poor working conditions and low pay Poor working conditions and low pay Poor working conditions and low pay
• Informal apprenticeship and poor training Informal apprenticeship and poor training Informal apprenticeship and poor training Informal apprenticeship and poor training Informal apprenticeship and poor training
• Outsourcing is driving economic growth by means of earning forex.
Technical Session-IV : Fin-Tech – Ensuring better finance through digitalized financial inclusion.
Time : 6:00 P.M. – 7:30 PM
Session Chairman : Professor Dr. Mohammed Farashuddin, Former Governor of Bangladesh Bank & Chief Adviser, East West University, Founder Vice-Chancellor, East West University, Bangladesh.
Paper Presenter : Mr. Daniel Monehin FCA, FCPA, CPA Member, PAIB Advisory Group, International Federation of Accountants (IFAC)
Commentator : CA Bishnu Prasad Bhandari, Council Member, ICA Nepal
Session Summary: Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance– delivered in a responsible and sustainable way.” Financial inclusion is changing our life. With rise in global markets, giant advances in technology & changes in the investment landscape the nature of business as a whole has changed significantly
Technical Session-V : The Fourth Industrial Revolution : The Role of Cost & Management Accountants.
Time : 7:30 P.M. – 9:00 PM
Session Chairman : Md. Humayun Kabir FCA, Former President & Council Member, The Institute of Chartered, Accountants of Bangladesh.
Paper Presenter : CMA Asim Kumar Mukhopadhyay, Institute of Cost Accountants of India
Commentators : v Mr. Ruchira Perera, Member Council, CMA Sri Lanka.
v Mr. A.K.M. Kamruzzaman FCMA, Council Member, ICMA Bangladesh.
Session Summary: Cost & Management Accountants have a unique end to end view of an organization. The expectation of finance role has changed. We play an important role as guardians of the business model, who apply the discipline of commercial finance for decision making & value creation. CMA’s promotes study and adoption of scientific methods to secure maximum efficiency. Cost & Management Accountants are the first to embrace a culture that encourages growth, change & innovation.
66th SAFA Board Meeting and 93rd SAFA Assembly Meeting
66th SAFA Board meeting and 93rd SAFA Assembly meeting were held via Video Conference [bluejeans.com – a digital platform] on January 18th 2021 respectively. Mr. A K M Delwer Hussain FCMA President, SAFA and past President & present Council Member, ICMAB presided over the both meetings. All Board Member of SAFA and heads of Member bodies were present at the meetings.
ICMAB delegate meets Chairman of NBR
A delegation of ICMAB led by its President Mr. Md. Jasim Uddin Akond FCMA met Mr. Abu Hena Md. Rahmatul Muneem, Senior Secretary of IRD & Chairman of NBR, Ministry of Finance, GoB at his on 18 February 2021 and discussed matters relating to professional interest. Among others President of SAFA Mr. A. K. M. Delwer Hussain FCMA and Executive Director of the Institute Mr. Muhammad Abdullah were present in the meeting.
Conceptual Framework & IFRS practices in Bangladesh and Global Context
The Institute of Cost and Management Accountants of Bangladesh (ICMAB) arranged a discussion session on “Conceptual Framework & IFRS practices in Bangladesh and Global Context” and “Financial Reporting in the light of COVID” on February 24, 2021 at ICMAB’s Ruhul Quddus Auditorium, Nilkhet, Dhaka.
Prof. Dr. Md. Hamid Ullah Bhuiyan, Chairman, Financial Reporting Council (FRC), Bangladesh was present as the Chief Guest and Mr. Mr. A. K. M. Delwer Hussain FCMA, President of South Asian Federation of Accountants (SAFA) was present as the Special Guest.
ICMAB President Mr. Md. Jasim Uddin Akand FCMA presided over the discussion session. Mr. Md. Shafiqul Alam FCMA, Principal & CEO, Shafiqul Alam & Co., Chartered Accountants, Sponsor Director, Bizz Solutions Ltd. and Mr. Fahmid Wasik Ali FCMA, Finance Director and Company Secretary, Novartis (Bangladesh) Ltd. presented the paper. A large number of members participated the discussion session physicaly and through webinar.
Mr. A.K.M. Kamruzzaman FCMA, Council Member, ICMAB moderated the entire program connecting the audience and discussants and also gave his analysis regarding the occasion. Mr. Abu Bakar Siddique FCMA, Vice- Pesident, ICMAB gave the vote of thanks to the participants and audience of the program.
ICMAB Best Corporate Award 2019
The Institute of Cost and Management Accountants of Bangladesh (ICMAB) has awarded 46 listed companies, along with two non-listed government banks, one non-listed specialized financial institution and four nongovernmental organizations (NGO), for their performance and role in 2019. Commerce Minister Tipu Munshi, as the chief guest of the event, handed over the awards to the winners at a city hotel on Thursday evening.
ICMAB President Md Jasim Uddin Akond presided over the program. Bangladesh Securities and Exchange Commission (BSEC) chairman Professor Shibli Rubayat-Ul-Islam, Commerce Secretary Dr Md Jafar Uddin and South Asian Federation of Accountants (SAFA) President A K M Delwer Hussain also spoke on the occasion as special guests. ICMAB corporate Award committee chairman Md Abdul Aziz FCMA, Vice Chairman Md Mamunur Rashid FCMA and ICMAB secretary Md Munirul Islam FCMA also spoke the program.
The annual ‘Best Corporate Award’, which the ICMAB started in 2007, is given based on the review of the contestant entities’ corporate governance and other qualitative and quantitative information published in respective annual reports. From a list of more than hundred contestant entities, the jury board selected winners in 15 categories. The jury board consists former Bangladesh Bank Governor Dr Atiur Rahman, BUET Vice Chancellor Dr Satya Prasad Majumder, veteran Banker Anis A Khan among others.
The 15 award categories were Nationalized Commercial Bank, Private Commercial Bank, Private Commercial Bank (Islamic Operation), Non-bank Financial Institution, General Insurance, Life Insurance, Pharmaceuticals, Cement, Textile, Multinational Company, Others Manufacturing, Power Generation, NGO, Agro and Food Processing and Trading & Assembly.
In the state owned commercial bank category Rupali Bank won the gold award, while Sonali Bank and Agrani Bank jointly won silver award.
In the Private Commercial Bank Category, the winners were 1st (gold) BRAC Bank Limited, 2nd (silver) Eastern Bank Limited and 3rd (bronze) Dutch-Bangla Bank Limited.
In the Private Commercial Bank (Islamic Operation) Category, the winners were 1st (gold) Islami Bank Bangladesh Limited, 2nd (silver) Shahjalal Islami Bank Limited and jointly 3rd (bronze) Social Islami Bank Limited and First Security Islami Bank Ltd. In Non-bank Financial Institution Category, the winners were 1st (gold) IDLC Finance Limited, 2nd (silver) IPDC Finance Limited and 3rd (bronze) Infrastructure Development Company Limited.
In General Insurance Category, the winners were 1st (gold) Green Delta Insurance Company Limited, jointly 2nd (silver) Nitol Insurance Co. Ltd. & Reliance Insurance Limited and 3rd (bronze) Provati Insurance Company Limited. In Life Insurance Category, the winners were jointly 1st (gold) Pragati Life Insurance Co. Ltd. & Popular Life Insurance Co. Ltd, 2nd (silver) Meghna Life Insurance Co. Ltd and 3rd (bronze) Sandhani Life Insurance Company Ltd. In Pharmaceuticals Manufacturing Category, the winners were 1st (gold) Square Pharmaceuticals Ltd., 2nd (silver) Renata Limited and jointly 3rd (bronze) Beximco Pharmaceuticals Limited & Orion Pharma Ltd.
In Cement Manufacturing Category, the winners were 1st (gold) Premier Cement Mills Limited, 2nd (silver) M.I. Cement Factory Limited and 3rd (bronze) LafargeHolcim Bangladesh Limited. In Textile Manufacturing Category, the winners were 1st (gold) Paramount Textile Limited, 2nd (silver) Square Textile Ltd and 3rd (bronze) Envoy Textiles Limited. In MNC Manufacturing Category, the winners were 1st (gold) British American Tobacco Bangladesh Company Ltd, jointly 2nd (silver) Linde Bangladesh Limited & Marico Bangladesh Limited and 3rd (bronze) Berger Paints Bangladesh Ltd. In Others Manufacturing Category, the winners were 1st (gold) Bangladesh Steel Re-Rolling Mills Ltd., 2nd (silver) RAK Ceramics (Bangladesh) Limited and 3rd (bronze) BBS Cables Ltd.
In Power Generation Category, the winners were 1st (gold) Summit Power Limited, 2nd (silver) Dhaka Electric Supply Company Ltd. and jointly 3rd (bronze) Doreen Power Generations and Systems Ltd. & Baraka Power Limited. In NGO Category, the winners were 1st (gold) BRAC, 2nd (silver) Social Development Foundation (SDF) and jointly 3rd (bronze) Ghashful & Dhaka Ahsania Mission. In Agro and Food Processing Category, the winners were 1st (gold) Golden Harvest Agro Industries Ltd., 2nd (silver) Olympic Industries Ltd and 3rd (bronze) National Tea Company Ltd.
In Trading & Assembly Category, the winners were jointly 1st (gold) Padma Oil Company Limited & Meghna Petroleum Limited, 2nd (silver) Information Technology Consultants Limited and 3rd (bronze) Navana CNG Limited.
Inauguration of ICMAB-Robi innovation Lab
Inauguration of ICMAB-Robi Innovation held on January 17, 2021 at 3:00 p.m. using “Zoom Video Conferencing “Mr. Zunaid Ahmed Palak, MP, Hon'ble State Minister for Information and Communication Technology (ICT), GOB inaugurated the ICMAB-Robi innovation Lab as the Chief Guest. Mr. AKM Delwer Husssain FCMA, President of South Asian Federation of Accountants (SAFA) was also present as special guest on the occasion. ICMAB President Mr. Md. Jasim Uddin Akond FCMA, Treasurer Mr. Md. Ali Haider Chowdhury FCMA, Chairman, ICT Committee Md. Faruque Sikder FCMA were also present on the occasion. Robi’s Managing Director and CEO, Mr. Mahtab Uddin Ahmed , Md. Faisal Imtiaz Khan, Chief Human Resources Officer , Dr. Asif Naimur Rashid, Chief Information Officer, Mohammed Shahedul Alam, Chief Corporate and Regulatory Officer along with high officials from Robi were also present on the occasion.
DBC NewsB R A N C H COUNCILS activities
Reception Program for the Newly Elected President of SAFA
The Dhaka Branch Council (DBC) of the Institute of Cost & Management Accountants of Bangladesh (ICMAB) has organized a Reception Program for the Newly Elected President of South Asian Federation of Accountants (SAFA) Mr. A.K.M. Delwer Hussain FCMA, Past President & Council member of ICMAB on Friday, 01 January 2021 at ICMAB Bhaban, Nilkhet, Dhaka. The Program was presided over by DBC Chairman Mr. A.K.M. Zakaria Hossain FCMA. Mr. Md. Jasim Uddin Akond FCMA, President of ICMAB was present as Guest of Honor. Mr. Md. Mamunur Rashid FCMA, Vice-President of ICMAB, Mr. Md. Munirul Islam FCMA, Secretary of ICMAB among other current office bearers and councilors of ICMAB & DBC and a large number of Fellow and Associate members of ICMAB and their families were also present and enjoyed the program. Dr. Syed Abudlla Al Mamun FCMA, Council member of DBC nicely conducted the program.
BRANCH COUNCILS activities DBC News
DBC-JBCCI International Webinar on “Flow and Efficiency of Japanese Investment in Bangladesh: Role of Professional Cost and Management Accountants”
International Webinar on “Flow and Efficiency of Japanese Investment in Bangladesh: Role of Professional Cost and Management Accountants (CMAs)” has been jointly organized by Dhaka Branch Council (DBC) of Institute of Cost and Management Accountants of Bangladesh (ICMAB) and Japan Bangladesh Chamber of Commerce and Industry ( JBCCI) on January 14, 2021.
H.E. Ito Naoki, Ambassador, Japan in the People’s Republic of Bangladesh graced the event as the Chief Guest and highlighted the possible areas of collaboration between ICMAB and JBCCI in order to improve the investment climate of Bangladesh for Japanese investors. “In spite of the Covid-19 pandemic, our partnership and cooperation between Japan and Bangladesh made progress. Japanese companies are looking Bangladesh as a new investment frontier because of the growth potential of Bangladesh, because of the geographical and strategic location of Bangladesh and the recovery speed from the pandemic compared with other Asian countries.
Companies are really looking Bangladesh as a future destination of investment with confidence”, he said. Mr. A.K.M. Delwer Hussain FCMA, President, South Asian Federation of Accountants (SAFA) and Mr. Md. Jasim Uddin Akond FCMA, President of ICMAB were also present as the special guest and the guest of honor respectively.
Mr. AKM Kamruzzaman FCMA, Councilor, ICMAB, Mr. Yuji Ando, Country Representative, Japan External Trade Organization ( JETRO), Mr. Tetsuro KANO, General Manager, Itochu Dhaka office have present their key note papers. Among others Mr. Md. Zakaria Hossian FCMA, Chairman of DBC, Tareq Rafi Bhuiyan ( Jun), Secretary General JBCCI, Mr. Md. Shariful Alam, Vice President of JBCCI, Mr. Md. Bakhtiar Alam FCMA, Vice-Chairman of DBC, Mr. Safiul Azam FCMA, Secretary of DBC have also shared their insights about different aspects of Japanese investments in Bangladesh and the role of professional CMAs for improving Cost and Management efficiency of foreign investments. Mr. Mohammad Nazrul Islam FCMA and Dr. Syed A. Mamun, FCMA has coordinated and moderated the program respectively.
Reception to the Newly Qualified CMAs The Dhaka Branch Council (DBC) of the Institute organized a reception program for the newly qualified Cost and Management Accountants qualified in (April, 2020 Exam) on January 16, 2021 at ICMAB Ruhul Quddus Auditorium, ICMAB Bhaban, Nilkhet, Dhaka. Mr. A.K.M. Zakaria Hossain FCMA, Chairman of DBC presided over the program. Mr. Md. Jasim Uddin Akond FCMA, President of ICMAB was present as the Guest of Honor. In the CMA April 2020 Exam 29 CMAs where qualified and attended the program along with their family members. They also spoke of the
hindrances in achieving the final success. They were awarded a memento and a small DBC souvenir as a token of recognition on behalf of DBC by the Institute’s President. DBC Vice-Chiarman Mr. Md. Bakhtiar Alam FCMA gave the welcome address and nicely conducted the program.
Do’a Mehfil for Mr. Mahmud Hasan FCMA (F-0315), Mr. Md. Sarwar-e-Alam FCMA (F-0649) and Mr. Md. Main Uddin FCMA (F-0927)
The DBC of the Institute organized a Do’a Mehfil for ICMAB’s three member’s Mr. Mahmud Hasan FCMA (F- 0315), Mr. Md. Sarwar-e-Alam FCMA (F-0649) and Mr. Md. Main Uddin FCMA (F-0927) for their quick recovery on January 23, 2021 at DBC Floor, ICMAB, Dhaka. DBC Chairman Mr. A.K.M. Zakaria Hossain FCMA presided over the program. Institute’s President Mr. Md. Jasim Uddin Akond FCMA was present in the program as the principal speaker. Council Members and Past Presidents of ICMAB, current office bearers and other council members of DBC and a large number of Fellow and Associate members, students and officials of the Institute attended and prayed for them.
Annual Picnic 2020
The Annual Picnic-2020 organized by the Dhaka Branch Council of ICMAB was held on February 12, 2021 at Shilpikunjo Picnic Spot, Chandra, KaliaKoir, Gazipur. More than 1000 Dhaka-based members, guests, and family members participated in the picnic and spent the whole day with joy and merriment.
The arrangement includes Cultural Program, Raffle Draw, Pillow-Passing for the babies, and Children’s sports. Office Bearers of the National Council and Office Bearers of Dhaka Branch Council attended the enthusiastic picnic.
Celebrate DBC BASHONTO BORON UTSHAB-1427 The first time for the members in ICMAB DBC Celebrated BASHONTO BORON UTSHAB-1427 as on February 14, 2021 at ICMAB Ruhul Quddus Auditorium, Nilkhet, Dhaka. DBC Chairman Mr. A.K.M. Zakaria Hossain FCMA presided over the program. Mr. A.K.M. Delwer Hussain FCMA, President, South Asian Federation of Accountants (SAFA) and Mr. Md. Jasim Uddin Akond FCMA, President of ICMAB were also present as the Chief Guest and the guest of honor respectively. Council Members and Past Presidents of ICMAB, current office bearers and other
council members of DBC and a large number of fellow and associate members, students and officials of the Institute attended the program. The function included Cultural program. DBC Vice-Chairman Mr. Md. Bakhtiar Alam FCMA nicely conducted the program and Treasurer Mr. Rana Protap Ghosh FCMA offered the vote of thanks.
Homage to the Martyrs of Language Movement
The DBC of ICMAB organized a Probhat Ferry on 21st February, 2021 in observance of Amar Ekushey which is now internationally recognized as the International Mother Language Day. Fellow and Associate members of the Institute, their family members, a good number of ICMAB students and DBC staff took part in the Probhat Ferry. Floral wreath was placed at the central Shahid Minar to commemorate the contribution of the brave patriots who sacrificed their lives for their mother language. Mr. A.K.M. Zakaria Hossain FCMA, Chairman of DBC led the procession, which was also attended by Mr. A.K.M. Delwer Hussain FCMA, President of the South Asian Federation of Accountant (SAFA), DBC Vice-Chairman Mr. Md. Bakhtiar Alam FCMA, Councilors Dr. Syed Abdulla Al Mamun FCMA and Mr. Md. Shohag Al Mamun ACMA.
The 49th Annual General Meeting of ICMAB held on January 01, 2021
The 49th Annual General Meeting (AGM) of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) was held on Friday, January 1, 2021 at ICMAB Ruhul Quddus Auditorium, ICMA Bhaban, Nilkhet, Dhaka. The program was live telecasted at CMA Bhaban, CDA R/A, Agrabad, Chattogram through video conferencing by Chattogram Branch Council of ICMAB.
Chattogram based members attended at CMA Bhaban, CDA R/A, Agrabad, Chattogram to make the program more lively and share their views as a member of the Institute. Among others Mr. Md. Anisuzzaman FCMA, FCA, Chairman, CBC, Mr. Mohammad Ahsan FCMA, Treasurer, CBC, Mr. M. Solaiman FCMA, Mr. Mohammed Shaheed FCA, FCMA , Mr. Mohammed Nazmul Hoque FCMA, Mr. Mohammed Monoarul Hoque FCMA, Mr. Golam Kibria, FCMA, Mr. . Mr. Imtiaz Alam FCMA, FCA, Council Member, ICMAB and a good number of past chairmen, Fellow & Associates Members of CBC attended the meeting virtually and shared their views. The program was followed by lunch.
On behalf of CBC, Mr. Md. Anisuzzaman FCMA, FCA expressed his gratitude to the members who have bear the all troublesome for attending the program.
Virtual CPD program on “Leadership Journey” Chattogram Branch Council of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) organized an online CPD program on “Leadership Journey” on last Friday, January 08, 2021.
Mr. Md. Anisuzzaman FCMA, FCA, Chairman, Chattogram Branch Council of ICMAB inaugurated the program while Mr. Imtiaz Alam FCMA, FCA, National Council Member,
CBC NewsB R A N C H COUNCILS activities
BRANCH COUNCILS activities CBC News ICMA Bangladesh & Chairman, Infinity Group of Companies & Corporate Support Ltd., was present as session chairman. Mr. Md. Abdul Alim Munshi FCMA, Chief Operating Officer, Akij Foods & Beverage Ltd., Dhaka presented the key note paper in the program.
While presenting his paper regarding the above subject, Mr. Munshi defined the modern leadership concept including meanings, qualities, skills and styles of a leader, theories, traits, relating to the management, etc. elaborately. He also emphasized that the world’s present economic situation depended highly on a smart leader. To cope up with this covid-19 pandemic, a professional accountant should play an important role in their workplace by adopting leadership concept.
After that Mr. Imtiaz Alam, FCA, FCMA expressed his personal views, experience, practical issues regarding the above subject. He thanked CBC for arranging this timely program.
A large numbers of senior Fellow & Associate members of ICMAB & students of Chattogram Branch attended the program.
The whole program was nicely conducted by Mr. Shahidul Hoque FCMA, Secretary CBC, and vote of thank was offered by Mr. Mohammed Arif FCA, FCMA, Vice-Chairman, CBC.
International Mother Language day 21st February, 2021
Chattogram Branch Council of ICMAB observed Language Martyrs Day and International Mother Language Day on Sunday, the 21st February, 2021. Mr. Md. Anisuzzaman FCA, FCMA, Chairman, Chattogram Branch Council and a significant number of Fellow and Associate Members of Chattogram regions by maintaining social distance participated in “Provat Ferry” towards Chattogram Central Shaeed Minar and placed floral wreath to commemorate the contribution of the brave patriots who laid their lives for the Bengali Language.
BRANCH COUNCILS activities CBC News
CBC Picnic-2020
Chattogram Branch Council of ICMAB arranged annual picnic-2021 at MATI-TA (Adventure Park), Bhatiyari, Chattogram on Friday, the 19th February, 2021. Mr. Md. Anisuzzaman FCA, FCMA, Chairman, Chattogram Branch Council inaugurated and welcomed all while Mr. Md. Jasim Uddin Akond FCMA, President, ICMAB & Mr. A. K. M. Delwer Hussain, FCMA, President-South Asian Federation of Accountants (SAFA) were present as the Chief guest & Special Guest. In addition to this Office bearers and honorable members of ICMAB national Council and a good number of Fellow and Associate members of Dhaka and Chattogram Branch of the Institute along with their spouses and children attended the function. The function was initiated with a colorful cultural program. Renowned artists of Chattogram participated and infatuated the audience serving their skills in the function. A wonderful raffle draw and a delicious dinner were followed by the cultural function.
KBC NewsB R A N C H COUNCILS activities
Homage to the Martyrs of Language Movement
Khulna Branch Council (KBC) of ICMAB organized a Probhat Ferry (Rally) on 21st February 2021 headed by Mr. Abdul Motaleb FCMA, Chairman, KBC in observance of Ekushey February and International Mother Language Day. Mr. Azizur Rahman ACMA, Secretary, KBC, a good number of Fellow and Associate members and students of Khulna Branch participated in the rally towards Khulna Hadish Park Shaheed Minar and showed due respect placing flower bouquets to commemorate the contribution of the brave patriots who sacrificed their lives for our mother language.
KBC Annual Program 2021 “Mix and Mingle”
Khulna Branch Council (KBC) of ICMAB organized its Annual Festive program 2021 namely “Mix and Mingle” on February 26, 2021 at CMA Bahban, Khulna. This year, due to Corona Pandemic situation, KBC arranged the program in-house. The day-long program was decorated with different type of indoor games and a colorful cultural program.
Mr. A. K. M. Delwer Hussain FCMA, Honorable President, South Asian Federation of Accountants (SAFA) & Past President of ICMAB was present in the program as Chief Guest while Mr. Md. Jasim Uddin Akond FCMA, Honorable President, ICMAB and Eng. Shafique Uddin, Managing Director, West Zone Power Distribution Company Limited were present in the program as Special Guest. Mr. Abu Bakar Siddique FCMA, Vice President of ICMAB, Mr. Md. Mamunur Rashid FCMA, Vice President of ICMAB, Mr. Munirul Islam FCMA, Secretary of
ICMAB, Mr. Md. Ali Haider Chowdhury FCMA, Treasurer of ICMAB, Mr. Imtiaz Alam FCA, FCMA, Council Member of ICMAB were also present in the festive program as guest of honor. A good number of Fellow and Associate Member of Khulna region and about 150 students of the branch participated in the program. Mr. Abdul Motaleb FCMA chaired the program. The program ended with a colorful cultural display.
President inaugurates the construction works of 2nd floor of Khulna Branch
President of the Institute Mr. Md. Jasim Uddin Akond FCMA inaugurated the construction works of 2nd floor of ICMAB Khulna Branch on February 27, 2021. SAFA President Mr. A. K. M. Delwer Hussain FCMA, Vice President of ICMAB Mr. Abu Bakar Siddique FCMA and Mr. Md. Mamunur Rashid FCMA, Secretary Mr. Md. Munirul Islam FCMA, Treasurer Mr. Md. Ali Haider Chowdhury FCMA and Council Member Mr. Imtiaz Alam FCMA were present in the inauguration ceremony. Honorable Chairman of KBC Mr. Abdul Motaleb FCMA, KBC Office bearers, fellow and associate members and a good number of students were present in the inauguration ceremony.
BRANCH COUNCILS activities KBC News
Member’s Achievement
A visionary leader Mr. A. K. M. Delwer Hussain FCMA two times President (2004 & 2013) and Council Member of the Institute of Cost and Management Accountants of Bangladesh has been appointed as President of South Asian Federation of Accountants (SAFA) for the year 2021 w. e. f. January 1, 2021. Prior to this he has also served as the Vice-President of SAFA which is a Network Partner of International Federation of Accountants (IFAC) comprises of eleven accountancy bodies in South-Asian Region namely India, Pakistan, Bangladesh, Sri Lanka, Nepal, Maldives and Afghanistan.
Bhutan, where no accountancy body exists has been given an observer status. SAFA has undertaken the leadership role in providing a new direction to the accountancy profession within the region.
He was also elected as a Board Member and also Member of the Strategic Committee of the Confederation of Asian and Pacific Accountants (CAPA) in 2004.
Mr. Hussain did his graduation with Honours and Masters in Management from University of Dhaka. He also did his post graduate diploma in Computer Science from Bangladesh Institute of Management (BIM). He completed an advance course on Administration and Development from Bangladesh Public Administration Training Centre (BPATC).
He is the Principal & CEO of his own practicing firm “A. K. M. Delwer Hussain & Associates”. He is currently also the Director of Agrani Equity & Investment Limited (A subsidiary of Agrani Bank Limited). He is also Member of Finance Committee of Bangladesh University of Engineering and Technology (BUET) and an external Member of Rating Committee of WASO Credit Rating Company (BD) Ltd. He is elected as Secretary General of Consultative Committee of the State-Owned Enterprises (CONCOPE) since 2012.
Mr. Hussain has acted as the Chairman of a State-owned Corporation namely Bangladesh Sugar and Food Industries Corporation (BSFIC) from 2014 to 2019. Prior to taking this responsibility he was the Director (Finance) of BSFIC from 2006 to 2014. He was nominated as the Director of Rupali Bank Ltd., Dhaka Power Distribution Company Ltd. (DPDC), Khulna Shipyard & Narayangonj Dockyard, Bangladesh Diesel Plant (BDP), Bangladesh Institute of Capital Market (BICM) and Dhaka Stock Exchange (DSE) Limited.
He participated in many International Training, Seminars and Workshops in Singapore, Pakistan, India, Malaysia, Switzerland, France Sri Lanka, Nepal, Russia and many other countries.
Mr. Hussain is a widely traveled personality and traveled different countries of the world such as USA, UK, Russia, Italy, Australia, Brazil, Canada, New Zealand, Switzerland, South Korea, Japan, Malaysia, Thailand, Singapore, India, Pakistan, United Arab Emirates, Sri Lanka, Nepal & Maldives on very important professional assignments.
We hope Mr. Hussain, a pro-people global leader of the Accounting Profession will contribute further to the profession especially to about 375,000 professional affiliated members and take the profession to a greater height of success all over the world.
New SAFA President A K M Delwer Hussain FCMA
Mr. A K M Delwer Hussain FCMA President, SAFA
Mr. Muhammad Abdullah has joined the Institute of Cost and Management Accountants of Bangladesh (ICMAB) on February 7, 2021 as Executive Director. Prior to joining the Institute, Mr. Abdullah served to the Government of Bangladesh for more than 33 years. Mr. Muhammad Abdullah retired from the Ministry of Youth and Sports as Senior Secretary on 27 February 2019. Before assuming the office of Secretary, Ministry of Youth and Sports Mr. Abdullah was Secretary of Ministry of Industries and Bangladesh Election Commission Secretariat.
Mr. Abdullah has vast experience in both field administration and Secretariat. He worked in almost every capacity in Bangladesh field administration. His career in civil service starts from Deputy Commissioner Office, Brahmanbaria as an Assistant Commissioner in 1986. Then he served as Upazila Magistrate in Chunarughar and Baniyacong of Habiganj district and Hajiganj Upazila in Chandpur district. Then he worked at Natore and Dhaka as Revenue Deputy Collector (RDC). He worked in Bhola and Louhajang Upazila as Upazila Nirbahi Officer (UNO). He worked in Ministry of public administration and Ministry of Health in the both capacity of Senior Assistant Secretary and Deputy Secretary. He was then posted as Deputy Commissioner (DC) in the Khagrachhari Hill district. After serving in Khagrachhari hill district as Deputy Commissioner (DC) he was promoted as Joint Secretary and posted as the Managing Director (MD) of Bangladesh Overseas Employment and Services Limited (BOESL). Then he was promoted as Additional Secretary and was posted as additional secretary in Ministry of Public Administration (MOPA). After serving in MOPA he was then posted as Divisional Commissioner, Chattogram Division, the highest position in Bangladesh field administration. He worked as Divisional Commissioner, Chittagong till December 2015. Then he was promoted as Secretary to the government and appointed as Rector, BCS Administration Academy. Before joining as Secretary, Ministry of Industries he held the position of Secretary in Bangladesh Election Commission Secretariat.
Mr. Abdullah obtained his Master of Science in Computer Application from Stamford University of Bangladesh in 2005.
In addition, he took part in several significant training courses, including BMA, Survey Settlement, Law and Administration course, Foundation Training, ACAD course, CISCO regional course, Management at the Top (MAT). He has done a specialized course in Hardware and Networking from India.
Mr. Abdullah had the opportunity to travel many countries across the world such as India, Thailand, Maldives, Malaysia, Singapore, Srilanka, UAE, Saudi Arabia, China, USA, Canada, New Zealand, Australia, Brazil, France, Jordan, Chili, Vietnam, Mexico, Jamaica, Panama, Argentina, Columbia, Liberia, Cote d Ivory, Ghana, Senegal, South Korea, Lao PDR and Austria. He is a father of one son and one daughter.
Mr. Muhammad Abdullah Executive Director, ICMAB
ICMAB New Executive Director Mr. Muhammad Abdullah
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NEWS - Welcome to ICMAB