December 2009 ISSN 1993-5366 ICAB News Bulletin · his career with Padma Oil Company Limited as Manager, Fund Management and worked till June,1995.After that he joined as Financial

MEMBER OF:

International Federation ofAccountants (IFAC)

International AccountingStandards Board (IASB)

South Asian Federation ofAccountants (SAFA)

Confederation of Asianand Pacific Accountants(CAPA)

ISSN 1993-5366December 2009

Monthly News briefing from the Institute of Chartered Accountants of Bangladesh

ICAB News BulletinNo. 242

In This IssueDr Jamal is Elected President-ICAB for 2010

ICAB holds the Meeting of Advisory Committee

Financial Businesss CommunityShould Follow New Spectrumto Achieve Goal, Speakers at Seminar

Meetings and Programmes held in the Month of Dec '09

Aftab is Promoted as EVP & FAD

Yeafesh Osman in ICAB ISLaunching Ceremony

President's Communication -December 2009

Awards ceremony encouragechildren to build up their career,Speakers say at award giving ceremony

Awards Given by ICAB for Best Published Accounts and Reports

ICAB holds its 37th AnnualGeneral Meeting

Dr Jamal Assumes Presidency ofICAB Nasir Accorded Farewell

Admission as Associate

Admission as Fellow

Permission to Form Partnership

Permission on Start Practice

Permission to Train ArticledStudents

Victory Day Observed

Office Bearers of CRC-ICABElected for 2010

New Arrivals in the ICABCentral Library

Library Attendance December 2009

ICAB Awards Recognition to the Brilliant Children of its Employees

A Memorable Moment for theBrilliant Children of ICABEmployees

Mr. Jamaluddin Ahmed,

Ph.D, FCA has been elected

President of the Institute of

Chartered Accountants of

Bangladesh (ICAB) for the

year 2010 by the Council-

ICAB in its meeting held on

29 December 2009. At the

same meeting, Mr. Md. Abdus

Salam FCA, Mr. Md.

Shahjahan Majumder FCA

and Mr. Nasim Anwar FCA

were also elected as Vice

Presidents of the Institute for

the same tenure.

Dr. Jamaluddin Ahmed is an accounting graduate

with honors followed by Masters from Dhaka

University, a PhD (1996) from the Cardiff

Business School, under the University of Wales,

United Kingdom as well as a Fellow of the

Institute of Chartered

Accountants of Bangladesh

(ICAB) and is a council

member of ICAB for the last

nine years. Dr Jamal is

currently Technical Advisor

of South Asian Federation of

Accountants (SAFA) which

is an apex body of SAARC.

Dr Jamal is two times’

elected Treasurer of

Bangladesh Economic

Association and co-author of

the theme paper titled “From

Cash to Accrual Accounting-

Reforming Government Accounting in

Bangladesh” with Professor Abul Barkat-General

Secretary of Bangladesh Economic Association.

Dr Jamal is co-researcher with Professor Abul

Barkat in Rural Electrification and Regional

Dr Jamal is Elected President-ICAB for 2010

Md. Abdus Salam FCA Md. Shahjahan Majumder FCA Nasim Anwar FCAVice President Vice President Vice President

Jamaluddin Ahmed Ph.D, FCAPresident

ICAB News Bulletin No. 242

December - 20092

Energy Co-operation.

Dr Jamal is a Partner of Hoda Vasi

Chowdhury & Co, Charterted

Accountants, which is the associate firm

in Bangladesh of Deloitte & Touche. Dr.

Jamal is engaged in assignments in

Financial, Banking and Energy Sector

industries. Dr Jamal worked as country

specialist in Migrant Remittance

Management. He is involved in DFID

funded Cheque Automation, Automated

Clearing System and in the development

of National Payment System in

Bangladesh. Dr Jamal developed his

specialization in Energy Pricing, and

Energy Accounting and has professional

training in managing the regulatory

commission function amongst numerous

other issues. Dr Jamal is currently

appointed Director of newly Corporatized

Janata Bank Limited and Power Grid

Company of Bangladesh Limited.

Dr Jamal completed his PhD thesis (1996)

on the Adverse Effect of Currency

Devaluation on the Foreign Loan user

Companies of Bangladesh. Over his

professional career, Dr. Jamal has written

copious publications and conducted

numerous research papers on various

aspects. Dr Jamal’s publications include,

Banking Reform in Bangladesh:

Comparison with Best Practices, Fiscal

Policy for Economic Growth, From Cash to

Accrual Accounting-Reforming

Government Accounting in Bangladesh,

Management of Migrant Remittance-What

Shapes and What Shakes, Attracting

Foreign Direct Investment-What Shapes

and What Shakes, Political Economy of

Privatization in Bangladesh-Comparison of

Regimes, Political Economy of Currency

Devaluation-A Comparative Study,

Challenging Corruption- Professional

Accountants at the Crossroad. Dr Jamal is

the writer of Evaluation Report on the

Rupali Bank for preparing information

memorandum for the prospective bidders.

Recently, he completed his research paper

on mobile banking for speedy remittance to

rural Bangladesh, Cost and Pricing of

Remittance-A Comparative Study.

Moreover, Dr Jamal conducted a Study

(2008) on the Mobile Banking in

Afghanistan for the Micro Finance

Transaction funded by the USAID. Dr

Jamal presented paper on Ethics in

Accounting Profession at Jaipur India

(2004), Lahore (2005) and Karachi (2006)

Pakistan, and Dhaka Bangladesh (2007)

under the SAFA banner. As well as being

the vice president of ICAB, he is also a

member of the American Accounting

Association (AAA), the British Accounting

Association (BAA) and the Bangladesh

Economic Association (BEA). His

accolades and reputation has also earned

him the position of Executive Secretary of

the South Asian Federation of Accountants

(SAFA) in 2002.

Mr. Abdus Salam, FCA, FCS obtained

his Bachelor of Honours and Master

Degree in Accounting from the University

of Dhaka in 1975 and 1976 respectively

and qualified as Chartered Accountant

from the Institute of Chartered

Accountants of Bangladesh in 1989 and

became Fellow of the Institute in 1994. He

was awarded Burmah Eastern and BCIC

scholarships to pursue his CA course.

Mr. Salam has been rendering services to

the Institute in various capacities and as a

member of different standing and non-

standing Committees, including the

Technical & Research Committee,

Editorial Board and Review Committee for

Published Accounts & Reports. He was

elected in Dhaka Regional Committee of

the Institute for the term 2000-2002 and

served as the Secretary for the term 2000

and is one of regular Faculty Members of

the Institute. He was also the Technical

Adviser of the IDA Technical Assistance

project for Chartered Accountants titled,

“Development of Accounting and Auditing

Standards in Bangladesh” financed by the

World Bank.

Mr. Salam is a Fellow Member of the

Institute of Chartered Secretaries and

Managers of Bangladesh. He was Vice

President for the term 2005-2006 and the

Treasurer for the term 2004-2005 of the

Institute. He also has been serving as

elected Councilor of the said Institute since

its establishment in 1997.

Mr. Salam in his career served in a number

of government autonomous bodies and

multilateral international development

organizations including Bangladesh Power

Development Board as Additional Director

of Accounts, General Manager Finance in

National Tea Company and as Mission

Team Leader and Consultant/Expert in a

number of projects in the fields of financial

management, auditing and governance

financed by UNDP, ADB, World Bank,

CIDA, DFID, NORAD, SIDA, EC,

DANIDA. He has completed recently a 4-

year assignment as the National Finance

Expert with the Primary Education

Development Programme of The Asian

Development Bank. He is one of the

Members of the Board of Directors and

Independent Director for Audit

Committees of the Board of The Ibn Sina

Pharmaceutical Industry Ltd- a listed

company with the Dhaka and Chittagong

Stock Exchanges.

He is a Charter Member and Best Past

President of the Lions Club of Dhaka

Meghna for the term 1993-94. He is a Life

Member of Dhaka University Accounting

Alumni Association, Dhaka University

Alumni Association, Bangladesh

Economic Association and Bangladesh

Computer Society. He attended various

national and international seminars

/conferences in Australia, Canada, United

Arab Emirates, Saudi Arabia, India and

Thailand.

Mr. Shahjahan Majumder ACEA (UK)

FCA is a professionally qualified

Chartered accountant from the Institute of

Chartered Accountant of Bangladesh

(ICAB). He is also an associate member of

the Association of Cost and Executive


December - 20093

Accountants, UK.After qualifying as

Chartered Accountant in 1989 he started

his career with Padma Oil Company

Limited as Manager, Fund Management

and worked till June,1995.After that he

joined as Financial Controller in world-

renowned Shipping Company P&O

Nedlloyd and served till Sept.2005.During

this long tenure of 10 years service with

P&O Nedlloyd he was assigned with a

number of overseas assignments in Saudi

Arabia, India, UAE and Sri Lanka on

compliance and corporate governance. In

October, 2005 he moved to healthcare

sector and took over as Director Finance of

Apollo Hospitals Dhaka. In 2009 he was

elevated as Chief Operating Officer with

greater responsibilities of financial

administration, business development,

operations, Information technology,

hospitality, supply chain, human resources

and engineering department.

He has in his career a number of advance

training courses. Among others he

completed training on “Advanced

Techniques of Management and Control

"Jointly sponsored by the Institute of

Chartered Accountants of Bangladesh and

The United Nations Development Program

in Bangladesh/United Nations Department

of Technical Co-operation for

Development. He took Computer Training

on “Computerized Accounting thru

standardized Packages” Organized by the

Institute of Cost and Management

Accountants Of Bangladesh at ICL-The

Computers Limited. He participated South

Asia Customer Service Training on May

1998 arranged by P&O Nedlloyd

Ltd.Completed three months training on

MS Office, MS Excel, Power Point and MS

Access.

Mr. Majumder participated in a number of

overseas training on "Operational Cost

Control in MESAF Region" in Bombay in

1996 Organized by P&O Nedlloyd-Middle

East South Asia and East Africa. He

participated CODA users training in

Colombo arranged by P&O Nedlloyd

Ltd.in 1998. He also attended the training

course on Financial Management and DRS

(Documentation and Revenue System) in

Bombay on March 1998 organized by P&O

Nedlloyd- Middle East South Asia and

East Africa (MESAF).Attended Train the

Trainer Road show followed by focal

training arranged by P&O Nedlloyd-

Dubai, UAE.

Mr. Majumder has been serving as the

Director of Board of Governors of Institute

of Internal Auditors, Bangladesh and the

Member Taxation Sub Committee of

Foreign Investors Chamber of Commerce

and Industries (FICCI).

Mr. Nasim Anwar FCA was elected Vice

President, ICAB for the year 2010. He

qualified as Chartered Accountant and was

enrolled with the Institute as an Associate in

1993 and Fellow in 1998. He was Chairman-

CRC in Chittagong Club Ltd. Permanent

Member of Maa-O-Shishu Hospital,

Chittagong and a social worker.

ICAB holds the Meeting of Advisory Committee

Ameeting of the Advisory

Committee of the Council-ICAB

was held on 25 December 2009

at a local hotel under the Chairmanship of

Mr. Zahir Uddin Ahmed FCA, Co-

Chairman, Advisory Committee and Past

President, ICAB.

The following Past Presidents of the

Institute and members of the Advisory

Committee attended the meeting:

Mr. Zahir Uddin Ahmed FCA, Mr. Md.

Jainul Abedin FCA, Mr. A K M

Mosharraf Hossain FCA, Mr. Kamal Ziaul

Islam FCA, Mr. A K M Rafiqul Islam

FCA, Mr. Badrul Ahsan FCA, Mr. Anil

Chandra Nath FCA, Mr. Abbas Uddin

Khan FCA, Mr. Anwaruddin Chowdhury

FCA, Mr. M A Baree FCA, Mr. A K

Gulam Kibria FCA, Mr. Akhtar Sohel

Kasem FCA, Mr. A S M Nayeem FCA,

Mr. M Farhad Hussain FCA, Mr. Md

Mr. Nasir Uddin Ahmed FCA, President-ICAB presided the Advisory Committee meeting.

Humayun Kabir FCA and Mr. Nasir Uddin Ahmed FCA.

Mr. Md. Syful Islam FCA and Mr. Md. Shahadat Hossain FCA both Vice Presidents, ICAB

also attended the meeting.

There was a lively discussion in the meeting regarding the present condition of the

accounting profession of the country and the meeting was of the view that the prestige and

dignity of the profession must be upheld by way of compliance with the accounting and

auditing standards and ethical norms of the profession. The meeting ended with a vote of

thanks to and from the chair.


December - 20094

Financial Business Community Should Follow NewSpectrum to Achieve Goal, Speakers at Seminar

Mr. Murshid Kuli Khan, Deputy Governor, Bangladesh Bank (3rd from left) was present at seminar as Chief Guest. Others are (L-R) Mr. Alamgir Morshed, Mr. Nasir UddinAhmed FCA, Mr. Akhter Sohel Kasem FCA, Mr. Md. Syful Islam FCA and Mr. Md. Shahadat Hossain FCA.

The Institute of Chartered


(ICAB) organized a CPD

Seminar on “The new spectrum for

financial markets and management” on 22

December 2009 at ICAB Auditorium,

Chartered Accountant Bhaban, 100 Kazi

Nazrul Islam Avenue, Kawran Bazar,

Dhaka-1215.

Mr. Murshid Kuli Khan, Deputy

Governor, Bangladesh Bank was the Chief

Guest.

Mr. Akhter Sohel Kasem FCA, Past

President, ICAB conducted the Seminar as

the Session Chairman.

Mr. Alamgir Morshed, Head of Global

Markets, Standard Chartered Bank

presented the keynote paper.

Mr. Nasir Uddin Ahmed FCA, President,

ICAB in his address of welcome said that

Financial Management and Financial

Markets are twin sisters with equal

dimensions concealed in the strategies to

achieve their goals particularly in the

entities of both

developed and

d e v e l o p i n g

countries. Some of

the largest

companies of the

world in the United

States are tottering

with the impact of

global financial crisis because they

couldn’t properly identify, quantify,

monitor and assess the risk and take the

appropriate measures to combat the risk

inherent in a marketing strategies. The

result has become devastating not only for

America but for other parts of the world

particularly developing countries like

Bangladesh. Though Bangladesh has not

been affected that much like other

Countries. Due to the unprecedented

global crisis the growth rate of the world’s

leading economies has just strictly falling

down. Million has become jobless. Due to

severe credit crunch and failure of stock

markets and major financial institutions in

the US, the American government was

compelled to come forward to bell out the

economy on particularly financial

institutions.

Mr. Murshid Kuli

Khan, Deputy

G o v e r n o r ,

Bangladesh Bank

talked about the

ongoing global

recession and said it

was originated from

a speculated bubble

in the real estate sector in the US which

brought a sever downturn in the global

economy. Financial markets came under

heavy stress and changes have been pulling

down the real economy including trade and

commerce, he added.

Mr Khan said this financial crisis can be

attributed to four major factors. The first is

the growth of financial products and

practices, which were sustainable only at

Mr. Nasir U Ahmed FCAPresident-ICAB

Mr. Murshid Kuli KhanChief Guest


that condition of increasing asset price and

investors’ confidence. The second factor is

uncontrolled liquidity creation, which was

not well recognized at the beginning.

Financial engineering has promoted the

growth of liquidity creation techniques

based on collateral lending. The third

factor was the growth of the unregulated

shadow-banking sector involving

investment banks etc and the construction

of complex financial instruments and

techniques, which saw risks spreading

through the global financial sector. The last

factor is the absence of public information

about the risks in the financial system.

Regarding the impact of the crisis on

Bangladesh, Mr Khan said, “We are lucky

that our banking sector has not been

affected by this recent crisis because our

exposures are not that not much widening

and the main origin was the housing

finance in US. Our housing finance is very

limited and negligible. Our bank’s main

priority is not housing, rather we

concentrate more on trade and financing.”

“We are at the door-point of

implementation of Basel-II. It should be

further reviewed because of the financial

crisis. It is an international practice. There

may be changes. Good corporate

governance must be emphasized,” he

added.

Mr. Alamgir

Morshed, Head of

Global Markets,

Standard Chartered

Bank presented the

paper in some scope

like, What went

wrong, the new

order, role of

financial experts &

leaders. He also discussed on Financial

Crisis on Growth, Sub Prime Problems,

Global Effect, Liquidity Crisis, Global

Action etc. His presentation was also based

on the roots of crisis. Mr. Morshed

presented a report on total crisis cost. In

this regard he gave an example of Nobel

Laureate Professor Yunus that, “this

economic crisis suddenly awakens us to the

fact that this system is not working. When

the system is not working that is the best

time to undo it and redo it in a new way.”

Session Chairman

Mr. Akhtar Sohel

Kasem FCA

thanked the paper

presenter who

outlined the

background of

financial recession

and the chief guest

for talking about

various factors which contributed to the

recession and about the role of central bank

in future. At the last phase of the Seminar,

there was a lively floor discussion.

Mr. Md. Shahadat Hossain FCA, Vice

President, ICAB said that the theme of the

seminar is very

relevant and

important for

a c c o u n t a n c y

profession. Mr.

Shahadat thanked

everybody for

active participation

while giving vote of

thanks.

December - 20095

Mr. Alamgir MorshedPresented the Paper

Mr. Md. ShahadatHossain FCAVice President

Date Meetings/Programmes

5.12.09 Council Meeting

Members Services & Welfare Committee (MSWC) Meeting

10.12.09 Examination Committee Meeting

Award Giving Ceremony 2009 for the Brilliant Children of ICAB Members

14.12.09 Information & Communication Technology Committee (ICTC) Meeting

15.12.09 Articled Students Committee (ASC) Meeting

17.12.09 Review Committee for Published Accounts & Reports (RCPAR) Meeting

20.12.09 Board of Studies (BOS) Meeting

23.12.09 Launching of ICAB New Automation of Examination Sysem

24.12.09 Technical Research Committee (TRC) Meeting

25.12.09 Advisory Committee Meeting

26.12.09 Roundtable Conference

Award Giving ceremony 2009 for the Brilliant Children of ICAB Employees

27.12.09 C.A Order & Bye-Laws Committee Meeting

29.12.09 Council Meeting

Annual General Meeting (AGM)

30.12.09 Award Giving Ceremony of ICAB Best Published Accounts & Reports 2008

31.12.09 Handing over and taking over new and Past President

Meetings and Programmes held in the Month of Dec '09

Md. Aftab Uddin Khan FCA

Mr. Md. Aftab Uddin Khan, M.Com,

FCA, FCS, LLB has been promoted as

Executive Vice President (EVP) and Head

of Financial Administration (FAD) of

ONE Bank recently. Mr. Aftab has been

working as Chief Anti Money Laundering

Compliance Officer (CAMLCO) in the

same bank.

Aftab is Promotedas EVP & FAD

Mr. Akhtar Sohel Kasem FCASession Chairman


Launching Ceremony of ICAB

Information Systems was held at

the Institute of Chartered

Accountants of Bangladesh (ICAB) on 23

December 2009 at ICAB auditorium, C.A

Bhaban, Dhaka-1215.

Architect Yeafesh Osman, Hon’ble State

Minister, Ministry of Science and

Information & Communication

Technology, GoB was present as Chief

Guest. Mr. Mustafa Jabbar, President,

Bangladesh Computer Samity was present

the occasion as Special Guest. Mr.

Swadesh Ranjan Saha FCA, Vice

Chairman, Satcom IT Ltd. made a

presentation on the system.

Mr. Nasir Uddin

Ahmed FCA said in

his welcome address,

"The introduction of

ICAB information

system will be in the

helm of a full pledged

computerization in

respect of infor-

mation, data, savings

and recordings of the functioning of the

Institute. Thereby enhancing capacity to

support and ensure highest accuracy of

critical data and information. From now on

we have the technology to store and

maintain the records of ICAB members,

principles, firms, registration of article

students, examination related records with

all required details. We will also be in a

comfortable position to obtain security

support by generating unique barcode for

each script used in professional

examination of the Institute and input the

marks of each script against the associated

barcode and calculate the grade

automatically. The information system

will be provided with a technology of

password protection locking to ensure

highest security and confidentiality."

Ms. Parveen

Mahmud FCA said

that we were

convinced that in

order to move

forward we must

take the help of ICT.

Our vision was to

make Bangladesh

digital in 2021 and ICAB Information

System was a step forward only to a digital

ICAB in the coming days. "Recently

ICAB’s ICT committee has introduced

SMS notification services for the members.

Focusing to establish digital ICAB we will

link every device such as cell phone,

internet, computer, e-learning, e-

governance etc. We have developed ICAB

Information Systems programme to meet

the requirements of all sections of ICAB

secretariat and provide necessary

information to members, students, stake

holders and interested parties in a

transparent way. Considering the priority

initially we developed examination and

article students’ registration section

module" she added.

Swadesh Ranjan

Saha FCA,

demonstrated the

main features of

ICAB information

system with the help

of power point.

Mr. Yeafesh

Osman, State

Minister for Science and ICT said

information technology is the key to

development. He said Digital Bangladesh

should not be only for a certain group of

people or section of society. It should

benefit all.

Welcoming the digitalization at ICAB, he

December - 20096

No Alternative to Technology if we want to ProgressYeafesh Osman in ICAB IS Launching Ceremony

Architect Mr. Yeafesh Osman, Hon’ble State Minister, Ministry of Science and Information & Communication Technology, GoB (centre) was Chief Guest of the ceremonyothers are (L-R) Mr. Swadesh Ranjan Saha FCA, Mr. Mustafa Jabbar, Mr. Nasir Uddin Ahmed FCA, Ms. Parveen Mahmud FCA, Mr. Md. Syful Islam FCA and Mr. Md.Shahadat Hossain FCA.

Mr. Nasir U Ahmed FCAPresident-ICAB

Ms. Parveen Mahmud FCAVice President-ICAB

Swadesh Ranjan Saha FCAPresentation of ICABInformation Systems


said ICAB has gone

one step ahead in the

society by

introducing ICT in

its exam system.

This effort will not

only benefit ICAB,

but also others

concerned.

Describing the benefits of digitalization,

Mr. Osman said use of ICT helps reduce

time of work and increase efficiency of the

job. Therefore, there should not be any

opposition or resistance to introducing new

technology. In this regard, he mentioned

the use of telemedicine that changed the

concept of treatment.

Mr. Osman said everyone in the country

has now realized that there is no alternative

to technology if we want to progress. In

this respect, he stressed the need for

combined use of software, hardware and

human ware.

The state minister said in future Bengali

language will be introduced in mobile

phones which will benefit common people

using cell phones.

Mr. Mustafa

Jabbar thanked

SATCOM for

assisting a renowned

institution like ICAB

to enter the digital

era and appreciated

creative role in the

ICT sector of

Bangladesh.

As one of the founders of Bangladesh

Computer Samity (BCS), Mr. Jabbar

highlighted the activities of BCS. He said

BCS is playing a leading role of flourishing

ICT and popularizing the use of computers

in rural areas through motivation.

BCS also helped 255 trade

associations/bodies of the countries in

introducing ICT and digitalization. As

recognition for the service, BCS has been

given national award.

Mr. Jabbar said the government has

withdrawn all taxes on computer and

accessories following demand of BCS.

Besides, BSC worked on digitalizing the

textbooks of schools.

The present government's slogan for

building a 'digital Bangladesh' was first

brought out by BCS.

The government and BCS have been

working as partners for the last one-year to

fulfill the government's pledge to build a

digital Bangladesh.

The ceremony ended with a vote of thanks.

December - 20097

A section of Audience of Launching Ceremony of ICAB Information Systems.

Mr. Yeafesh OsmanChief Guest

Mustafa JabbarSpecial Guest

Architect Mr. Yeafesh Osman, Hon’ble State Minister, Ministry of Science and Information & Communication Technology, GoB as Chief Guest formally launching the ICABInformation Systems unveiling the CD of the programme.


December - 20098

Dear Esteemed Members, Assalamualaikum, Change is the only thing that is constant. It is this continuity of change —change with the times that has kept our profession in a leading position inIndian sub-continent for decades. As has been well said, ‘continuity givesus roots; change gives us branches, letting us stretch and grow and reachnew heights’. It is time for change at the Institute too — a change of guardat the very top. Yes, this is my last monthly communication to you as thePresident of the Institute, which I started from January this year.

I would now like to touch upon some of the major activities carried outduring my last month of Presidency and would like mention few of theareas, where we need to put efforts to take ICAB and the profession to abetter height.

CPD Seminars: The last CPD seminar of the year was held on the 22nd December 2009. Thetopic of the CPD Seminar was "The Spectrum for Financial Market andManagement”. Mr. Alamgir Murshed, Head of Global Market, StandardChartered Bank, Bangladesh presented the Key Note Paper.

Mr. Murshid Kuli Khan, Deputy Governor, Bangladesh Bank, attended theprogramme as Chief Guest, while Mr Akhter Sohel Kasem, FCA PastPresident & Council Member, ICAB conducted the Seminar as SessionChairman.

A good number of members were present at the seminar. With this seminar,we finished 10 (ten) CPD Seminars at Dhaka and 3 (three) CPD Seminarsat Chittagong. Members, resident at Dhaka received the opportunity ofattending 38 credit hours (including technical sessions of NationalConference) as against 12 hours required. However, our arrangement ofholding CPD Seminars in Chittagong was inadequate to the requirements.

Launching of ICAB Information SystemThe need for a computerized system for ICAB examination process andMembers & Students’ was felt for long time but we could not do much onthis important area of automation until this system was put on operation.The dream of a robust computerized system in the area of examination andmembers/ students’ record was materialized only in this year 2009. I mustappreciate and congratulate all members of the ICT Committee for theirhard work to materialize our long outstanding dream. I also express ourgratitude to SATCOM assisting ICAB in implementation of this InformationSystem.

On the 23rd December 2009, Architect Yeafesh Osman, Honourable StateMinister for Science and Information & Communication Technologyformally launched ICAB Information System at C A Bhaban at a simpleceremony organized by ICAB. Mr Mustafa Jabbar, President, BangladeshComputer Samity (BCS) was present at this programme as Special Guest.Mr Swadesh Ranjan Saha, FCA, Chairman, SATCOM also attended theprogramme and made a presentation on ICAB Information System. Ms.Parveen Mahmud, FCA Chairperson, ICT Committee conducted the sessionas Session Chairman.

A large number of our honourable members attended this programme andshown keen interest in this newly introduced computerized systems.

ICAB ExaminationsICAB examinations for Nov-Dec session started on the 19th December2009, covering all professional examinations i.e PEI, PEII & PEIII. Anincreased number of examinees appeared at these examinations. This is tobe mentioned here that this could be last examinations for PE I examineesas we are switching over to new syllabus from May-June 2010 session,hence this would the last opportunity for PE I examinees to appear undercurrent syllabus.

President, ICAB visited all examination halls in Dhaka Centre to see thesmooth holding of ICAB examinations. He spoke to invigilators, DRCOffice bearers and ICAB officials at Examination Centre on variousexamination issues.

9th National BPA Awards 2008 9Th ICAB national Awards for Best Published Accounts & Reports 2008was held on the 30th December 2009 at Winter Garden of Dhaka SheratonHotel, Dhaka. Honourable Commerce Minister, Mr Muhammad Faruk

Khan, MP was present as Chief Guest and gave away prizes & certificate toall winners. Chairman, Securities Exchange Commission, Mr Ziaul HaqueKhondoker attended the programme as Special Guest. Mr Sheikh A Hafiz,President, SAFA was present at dais as Special Guest. Chairman, SEClaunched the newly published Volume-III of Handbook of BangladeshStandards on Auditing, Assurance and Ethics Pronouncements, as SpecialGuest of this National BPA Awards ceremony. This volume contains 08BAPSs, BSQC 1 and Glossary of Terms.

As many as fifteen organizations were awarded prizes under six categoriesand twenty six organizations were awarded certificate of merit under allthese categories. A noticeable numbers of dignitaries, high corporate &government officials and a good number of ICAB members attended thislast programme of the year 2009. The programme was followed by a granddinner.

Award giving ceremony for brilliant children of ICABmembersICAB in cooperation of Members Services and Welfare Committee(MSWC) organized the Award giving Ceremony for the brilliant children ofour honourable members. ICAB has been holding such programme for longto encourage children of ICAB members for their brilliant results in SSC,HSC, O Level and A Level. Mr Nasir U Ahmed, FCA President, ICAB, MrSheikh A Hafiz, FCA President, SAFA , Dr Abu Sayed Khan, FCAChairman, MSWC, Mr M Shahdat Hossain, FCA Vice President, ICAB andMr N I Chowdhury, FCA Secretary, ICAB were on the dais.

A total of twenty five students were awarded for their brilliant results in therelevant examination. Each of these students was given a crest, books andcertificate as prizes.

Round table discussion at the Prothom Alo OfficeAt the request of Mr Nasir Uddin Ahmed, FCA President, ICAB Mr MotiurRahman, Editor, Prothom Alo organized a Round Table discussion atProthom Alo office on the 26th December 2009. The tropic of thediscussion was, “Role of Chartered Accountants in Economic developmentof Bangladesh and Transparency and Accountability”. A total of five seniorChartered Accountants representing practicing members and members inindustries participated from ICAB side and other renowned personalitiesrepresenting various stakeholders participated in the round table discussion.ICAB members included President, ICAB, Mr Anwaruddin ChowdhuryPast President, Dr Jamaluddin Ahmed, FCA Council Member & Partner,Hoda Vasi Chowdhury & Co., Ms Parveen Mahmud, FCA Council Member& Dy Managing Director, PKSF, Mr Ahsan Parvez, FCA National FinancialController DHL Bangladesh. Mr N I Chowdhury, FCA Secretary, ICAB waspresent. On the other side dignitaries included Dr Mirza Azizul Islam,Former Adviser for Finance, Mr Ziaul Haque Khandoker, Chairman,Securities Exchange Commission, Mr Murshid Kuli Khan, Dy Governor,Bangladesh Bank, Mr Rakibur Rahman, President, Dhaka Stock Exchange,Mr Aminur Rahman, Managing Director, Janata Bank Ltd., Mr Nurul Amin,Managing Director, NCC Bank Ltd. Mr Mahbubur Rahman, President,International Chamber, and Mr Salman F Rahman, President, BangladeshListed Companies Association.

The news and discussions at this round table meeting received very highimportance and was covered in the top page of the Prothom Alo andbusiness page of the Daily Star on the following day. We all were veryhappy to see the coverage that our profession had received through thisround table discussion.

Enhancement of Audit Fees We completed sending the request letters to all Chairmen & ManagingDirectors of all Listed Companies for enhancement of audit fees of theirrespective companies. We also received some feedback form differentcompanies, which were encouraging. We now need to continue chasing allthese companies for implementation of our request through enhancement ofaudit fees at least in Listed Companies. We may seek support of Associationof Listed companies in Bangladesh, for implementation of approved auditfess in Listed Companies.

Victory Day Observed ICAB for the first time formally celebrated Victory Day, on the 16thDecember 2009. Mr Md Shahdat Hossain, FCA Vice President, ICAB led

President's Communication – December 2009

an ICAB team to Jatiyo Smiriti Soudha at Savar and placed flower bouquetas mark of profound respect of ICAB & its members to the martyrs of ourliberation war in 1971. Brilliant children of ICAB employees awardedICAB organized a program on the 26th December to recognize brilliantperformance of children of ICAB employees. This was for the first time thatICAB organized such programme to award brilliant students of ICABemployees. President, ICAB attended the programme as Chief Guest andgave away prizes to awardees. Mr Md Syful Islam, FCA and Mr MdShahdat Hossain, FCA Vice Presidents, ICAB attended this programme. Advisory Committee Meeting heldAdvisory Committee meeting was held on the 25th December 2009 at Topof the Park, Hotel Sheraton as per practice. A good number of PastPresidents, incumbent President, Vice Presidents and Secretary attended themeeting. President, ICAB appraised the Committee about various activitiesof 2009. Many Past Presidents highly appreciated activates carried out in2009 with Particular reference to signing of MoU with ICAEW, 1st timeholding of SAFA BPA Award in Dhaka and various activities of SAFA inDhaka. Participants emphasized holding of Advisory Committee meeting atthe begging of the year. President expressed his gratitude to all PastPresidents for their support and advice through out the year 2009. Themeeting was followed by dinner. 37th Annual General Meeting heldThe 37th Annual General Meeting of ICAB was held on the 29th December2009 under the Chairmanship of Nasir U Ahmed, FCA President ICAB atICAB Auditorium.

Meeting started with Telwat e Quran and one minute silence for the departedsouls of ICAB members, who died in 2009.

A good number of members participated in the discussion on AnnualReport, and Financial Statements and President answered all the questionsraised by various members including few past presidents.

President, Mr Nasir Uddin Ahmed, FAC introduced President Elect for2010 Dr Jamaluddin Ahmed, FCA and three newly elected Vice Presidents,Mr M Abdus Salam, FCA, Mr M Shahjahan Majumder, FCA and Mr NasimAnwar, FCA to members present at the AGM.

President, ICAB, Mr Nasir Uddin Ahmed, FCA made a PowerPointpresentation on activities of 2009 for the members present at the AGM. Handing Over and Taking Over CeremonyAt simple ceremony, Mr Nasir Uddin Ahmed, President ICAB handed overthe office of President ICAB to newly elected President, Dr JamaluddinAhmed, FCA on the 31st December 2009 at ICAB Auditorium.

Out going President requested all employees of ICAB to uphold the imageof the Institute and profession above all personal interest and work withdiligence and sincerity. He assured all cooperation to the incoming Presidentin running the affairs of ICAB and the profession.

Incoming President thanked outgoing President for assurance of his supportand advised all employees to work hard for ICAB and the profession. Outgoing and incoming Vice Presidents were present Other key activities of the month- 17th and 18th Council meetings were held on the 05th and 29th

December 2009, respectively. 17th council meeting dealt with somevery important issues e.g. approval of the ICAB Election, FinancialStatements of ICAB for year ended on the 30th June 2009, fixation ofthe date for AGM and discussion on preparation of the 9th NationalBPA Awards 2008 etc. 18th Council Meeting mainly dealt with electionof President and Vice Presidents for the year 2010.

- 3rd meeting of the Member Services and Welfare Committee was heldon the 05th December 2009 mainly to finalize arrangements for holdingof Awards giving ceremony for the brilliant children of ICAB membersscheduled on the 10th December 2009.

- An urgent meeting of the Examination Committee was held on the 10thDecember 2009, prior to commencement of Nov-Dec ICABexaminations. The meeting was urgently called to deal with importantexamination related issues.

- A meeting of the Information and Communication Technology washeld on the 14th December 2009, to review smooth functioning ofICAB Information System and to review last minutes preparation oflaunching ceremony of ICAB Information System scheduled on the23rd December 2009.

- Articled Students Committee held its last meeting of the year on the15th December 2009, to dispose of all issues left out for the year 2009.

- RCPRC held its 5th meeting of the year on the 17th December 2009, toreview preparation and all arrangements for holding 9th ICAB NationalBPA Awards 2008 ceremony on the 30th December 2009.

- A meeting of the Board of Studies was held on the 20th December 2009to discuss on its regular issues and decisions taken thereon.

- 11th Executive Meeting was held on the 21st December 2009 todispose off all pending issues of the year before the current Presidenthands over the office of the President to the newly elected President.Agendas of the meeting included Admission as Associate & Fellowmembers, permission to start practice, approval for purchase of officeequipment and other Capex items, approval of new rent rates for CRCoffice and new office for BCACP.

ConclusionI Bid Adieu… Friends, as I prepare to pass the baton of ICAB leadership on to mysuccessor, I can modestly say that many of my initiatives have borne fruitor will give in future. You will, I hope, agree that ICAB is today a moreorganized, energetic and futuristic organization. I am happy to recall thatduring the year when I had the privilege of leading the onward march ofICAB, it has not only grown better placed but has also paved the way for abrighter tomorrow for the profession through entering into MoU withICAEW. When I took over the reins of the ICAB, I had a mission within the ultimatevision of excellence and I am proud to say that we have accomplished mostof that mission. ICAB has hit several milestones and overcome severalchallenges with the spirit of a true partner in nation building. Dear Members, Ihave tried my best to go faster, and have tried to speed things up.

I believe that with every rising sun, you rejoice at a journey that has begun.And with every setting sun, you rejoice at the victories that you haveachieved and the paths that you paved for victories the next day. We haveindeed come a long way, but I must admit that I have not been able toaccomplish as much as I wanted to. There are still miles to go, still manymore promises to keep. As such, these accomplishments cannot be final.The pursuit of ultimate excellence is an ever-going journey for the Instituteand the profession. I am sure my successors with their better capabilities,will not only finish the unfinished agenda but also take up new ones, set newgoals, make fresh starts in newer areas and achieve newer milestones intimes to come.

My dear esteemed members, all this would not have been possible withoutthe active support of my colleagues in the Council, Regional Committees,foreign chapters and officers and staff of ICAB, who extended their all outsupport to all activities of ICAB during 2009. I humbly and sincerely thankall of them. I also express my gratitude towards past presidents and otherwell wishers for their encouragement and support.

As I sign off as President of ICAB, I feel overwhelmed by the affectionshowered on me and the confidence reposed by all of you in me. This hasbeen the source of my strength, inspiration and has energized me to workaggressively for the cause of the profession, in spite of my tremendous jobpressures at my service in a British Multinational Company. And it hasearned for me a unique relationship with all of you and with all our students,something that I will cherish for the rest of my life.

While concluding this month’s communication, first of all I express mygratitude to Almighty Allah for His help and “Rahmat” that He showered onme, my Institute and all members, which made me enable to discharge myresponsibilities successfully in 2009. My parents’ “Doa” have always beenwith me, which have kept me going ahead defying all barriers.

Once again I express my personal gratitude to all past Presidents, membersof Council, DRC, CRC and esteemed members of the profession for theirfullest cooperation, support and assistance in discharging myresponsibilities as your leader for 2009. At the end of this communication,I would like to reemphasize that I shall remain dedicated to my Institute andmy profession, till the last day of my life. Please pray for my good health and long life, so that I can serve ICAB andthe profession in a better way at any capacity in future inshaAllah. AllahHafez.


December - 20099

Nasir U Ahmed FCA


December - 200910

Awards ceremony encourage children to build up theircareer, Speakers say at award giving ceremony

The Members’ Services and

Welfare Committee (MSWC) of

Council under the Chairmanship

of Dr. Abu Sayed Khan FCA, Member

Council, ICAB organized an award giving

ceremony for the meritorious children of

ICAB Members for their brilliant results in

SSC, HSC, ‘O’ Level, ‘A’ Level

examinations in the year 2009 on 10

December 2009 at the ICAB Auditorium,

CA Bhaban, Dhaka.

Mr. Nasir Uddin Ahmed FCA, President,

ICAB in his address said, “the objective of

this Ceremony is to encourage them to

continue their sincere effort and to do even

better in their future endeavors. It will also

create awareness among them about the

activities of ICAB and help them to choose

their profession in future. This will also

encourage other children of our honourable

members to follow their path to be

recognized by ICAB in this befitting

manner”.

Dr. Abu Sayed Khan FCA, Chairman,

MSWC in his welcome address said that

ICAB had been giving such awards since

2004 and had already awarded 104 brilliant

children so far. This year 25 brilliant

children had been selected for the Award.

ICAB believed that this ceremony would

also create fellow feelings among the

children and spouses of the honourable

members of ICAB.

The following children of the Members of

the Institute were awarded for their

outstanding results in four categories:

From SSC Level: Ms. Noshin Tasneem,

daughter of Mr. Md. Abu Bakar FCA, Ms.

Samia Ruponti, daughter of Mr. A. T. M

Rashiduzzaman FCA, Ms. Jannatun

Nayema, daughter of Mr. Md. Abdul Majid

FCA, Ms. Tasnim Kibria Aurpa, daughter

of Mr. Abu Syed Golam Kibria FCA,

Master Md. Rayhan Habib, son of A K M

Rahmat Ullah FCA, Ms. Lutfun Nessa

Lata, daughter of Mr. Amin Ahmed FCA,

Master Sarder Kanak-A-Tasnem, son of

Mr. Md. Abdul Haque Sarder ACA, Ms.

Tauhida Kabir Esha, daughter of Mr.

Enamul Kabir FCA, Ms. Nabila Musharrat,

daughter of Mr. Md. Iqbal Chowdhury

FCA from HSC Level: Ms. Muna Nur Al

Chowdhury and Ms. Marwa Nur Al

Chowdhury, daughters of Mr. N I

Chowdhury FCA, Master A H M Belal

Chowdhury, son of Mr. Md. Liaquat

Hossain Chowdhury FCA, Ms Mumtahina

Afroj, daughter of Mr. Md. Shah Alam

Mridha FCA Ms. Sabrina Jannath,

daughter of Shahjahan Majumder FCA,

Ms. Maeesha Shahla Mridha, daughter of

Mr. Mosharraf Hossain Mridha ACA, Ms.

Sumaiya Ashraf, daughter of Mr. Md.

Ashraf Hossain Mondal, from O Level

category: Master Rashik Amin, son of Mr.

Md. Ruhul Amin FCA, Ms. Marzana

Ferdous Chowdhury, daughter of Mr.

Masih Malik Chowdhury FCA, Master

Arnab Chakraborty, son of Dr. Kalyan

Krishna Chakraborty FCA, Ms. Ornila

Khan, daughter of Mr. Badrul Haque Khan

FCA, Master. Arij Ayman, son of Mr.

Muhammed Abul Hashem ACA and from

A Level category: Master Tahsin Reza

Abrar, son of Mr. Md. Habibullah FCA,

Master Tridib Kumar Saha, son of Mr.

Swadesh Ranjan Saha FCA, Master M.

Marif Hasnain Safin, son of A S M Hossain

Tayiab ACA and Master Asif Zaki

Chowdhury.

Awardees are seen with office bearers, members of MSWC and Secretary-ICAB.


December - 200911

The Institute of Chartered


(ICAB) the regulatory body of the

Accountancy Profession in the country

through its Review Committee For

Published Accounts and Reports (RCPAR)

evaluated the published accounts and

financial statements of the listed

companies and NGOs/MFIs who

participated in the 9th ICAB National

Awards For Best Published Accounts and

Reports 2008 Competition. The Published

Accounts and Reports of the listed

companies, NGOs/MFIs and Public Sector

Entities were evaluated by RCPAR-ICAB

under guidelines and criteria set by the

South Asian Federation of Accountants

(SAFA).

In a ceremonial function organized by

ICAB in a local Hotel Mr. Nasir Uddin

Ahmed FCA, President-ICAB in his

address of welcome commented that since

establishment in 1973 ICAB has been

relentlessly trying to promote the

accountancy profession in Bangladesh and

as a result the number of qualified

accountants has increased substantially. He

said that ICAB’s objective is to create

awareness in the corporate sector about the

value of timely publishing the audited

financial statements as well as adequate

disclosure of the financial and non-

financial information. ICAB believes

disclosure of information in time will

ultimately establish better transparency and

accountability in the corporate world and

ensure the efficient use of resources and

bring success to the business and thereby

safeguard the interests of the stakeholders

in the long run. The ICAB BPA Awards is

also expected to help improve the level of

harmonization of Accounting and

Financial Reporting Standards in

Bangladesh with IFRSs and ISAs and

thereby attract foreign direct investment in

the country.

Mr. Muhammad Faruk Khan MP in his

speech as Chief Guest highly appreciated

the evaluation process of ICAB of the

Published Accounts and Reports and hoped

that this will have a positive impact in

bringing about transparency, accountability

and good governance among the entities.

He said that ICAB is regularly doing the

job for awarding prizes to the listed

companies in the Financial, Non-Financial,

Manufacturing, Communication &

Information Technology, Non-

governmental Organizations and Public

Sector Entities Categories after meticulous

evaluation on the basis of stringent criteria

and South Asian Federation of

Accountants (SAFA) guidelines

Mr. Md. Ziaul Haque Khondker,

Chairman, SEC in his speech as Special

Guest stressed on the application and

compliance of accounting and auditing

standards in the preparation of financial

statements. He also said that this annual

event inspire greater transparency and

better disclosure adhering to globally

accepted best practices as well as to sound

corporate governance principles. The

committee tasked with selecting best

published accounts and reports applied

prudence and wisdom in picking the

winners.

As a Special Guest Mr. Sheikh A. Hafiz

Awards Given by ICAB for Best Published Accounts and Reports

Honourable Chief Guest, Special Guests, ICAB office bearers and Chairman, RCPAR are seen in the picture with the Awardees.


December - 200912

FCA said that this Award is an appreciation of excellence and

encourages organizations to aspire for future awards by raising the

quality of their financial reports. It is important to understand that

the Awards symbolize ICAB’s recognition and reward for

organizations which have achieved excellence in presentation and

disclosure of high quality, relevant, reliable and objectively

comparable financial statements, particularly within the IAS/IFRS

framework. I sincerely hope that this Award continues to achieve its

objectives.

Mr. Anwaruddin Chowdhury FCA, Chairman, Review

Committee for Best Published Accounts and Reports of ICAB

(RCPAR) presided over the function. In his speech Mr. Chowdhury

narrated the scenario of published accounts and reports in the

SAARC region. “I would like to make it clear that these awards are

not performance award. The awardees are not necessarily the best

performing companies in their respective sectors. Their disclosures

and presentations of the stakeholders’ information particularly on

performances and prospects of their operations and corporate

governance were better than others; disclosures were, in some

cases, beyond statutory requirements. In addition they have

complied with BASs and BFRSs. They have disclosed their

strategies and core values specifically to achieve their

visions/missions.

The winner companies published the annual reports precisely

‘within time’ and held their AGM within a specified time for the

interest of the stakeholders. They disclosed about their efforts on

CSR activities within which they operate and their contribution to

the national exchequer.

The awards therefore are a recognition for the publicly disclosed

financial and other corporate information and do not in any way

represent any attestation by the ICAB for the operational

performance, financial position, capital adequacy and liquidity

status of the companies, for decision making by lenders, investors

or any other interested parties. He thanked the organizations that

participated in the competition of Best Published Accounts &

Reports-2008, said Mr Anwar.

FINANCIAL SECTOR – BANKING Category

Prime Bank Limited First

Dutch-Bangla Bank Limited Second

Eastern Bank Limited Third

Mercantile Bank Limited Certificate of Merit

National Bank Limited "

Dhaka Bank Limited "

BRAC Bank Limited "

Southeast Bank Limited "

AB Bank Limited "

Islami Bank Limited "

Bank Asia Limited "

Pubali Bank Limited "

Premier Bank Limited "

One Bank Limited "

Shahjalal Islami Bank Limited "

FINANCIAL SECTOR - NON BANKING Category

Prime Finance & Investment Limited First

LankaBangla Finance Limited Second

Green Delta Insurance Co. Limited Third

Phoenix Insurance Co. Limited Certificate of Merit

International Leasing Co. Limited "

NON FINANCIAL SECTOR-MANUFACTURING Category

Singer Bangladesh Limited First

GlaxoSmithKline Bangladesh Ltd. Second

Berger Paints Bangladesh Limited Third

British American Tobacco Bangladesh Certificate of Merit

Renata Limited "

Square Pharmaceuticals Ltd. Bangladesh "

Reckitt-Benckiser "

Advanced Chemical Industries Limited (ACI) "

PRAN-RFL GROUP "

Beximco Pharma "

Bangladesh Lamps "

Padma Oil "

BOC BD "

COMMUNUCATION AND INFORMATION

TECHNOLOGY

Bangladesh Online Limited Certificate of Merit

NGO/MFIs

BRAC First

BURO Bangladesh Second

SAJIDA Foundation Third

Uddipan Certificate of Merit

PUBLIC SECTOR ENTITIES Catetory

Agrani Bank Limited First

Palli Karma-Sahayak Foundation (PKSF) Second

Investment Corporation of Bangladesh (ICB) Third

The list of the awardees are given below:


December - 200913

The 37th Annual General

Meeting (AGM) of the Institute

of Chartered Accountants of

Bangladesh (ICAB) was held on 29

December 2009 under the chairmanship

of outgoing President Mr. Nasir Uddin

Ahmed FCA at ICAB Auditorium.

At the beginning, the meeting paid rich

tributes to the departed soul of late

Mohammad Saifur Rahman FCA,

former President of ICAB and illustrious

Finance Minister of the country,

Mohammed Ali FCA (263), Syedur

Rahman Osmani FCA (237), ABM

Abdur Rob Hawladar FCA, Shamsul

Alam and Md. Atahar Ali who expired in

the year 2009. The house prayed for the

salvation of the departed souls.

The meeting considered and approved

the annual report, auditors report,

financial statements 2008-2009 after

discussion by the members and answered

their questions by the President.

The meeting also approved the proposal

to appoint Mr. Enamul Kabir FCA (280)

and Mr. Abdul Momin Khan Lohani

FCA (575) as auditors of the Institute for

the year 2009-2010.

The outgoing President Mr. Nasir Uddin

Ahmed FCA introduced the newly

elected office bearers of the ICAB 2009.

The office bearers of 2010 are Mr.

Jamaluddin Ahmed Ph.D, FCA,

President, Mr. Md. Abdus Salam FCA,

Mr. Md. Shahjahan Majumder FCA and

Mr. Nasim Anwar FCA, Vice-Presidents,

ICAB.

In his speech the outgoing President Mr.

Nasir Uddin Ahmed FCA thanked the

members and employees of the Institute

and expressed his gratitude to them for

extending cooperation and giving him

valuable advices, suggestions and

guidelines while discharging his

responsibility as President-ICAB during

his tenure.The newly elected President Mr.Jamaluddin Ahmed Ph.D, FCA alsothanked all the honourable councilorsand members of the Institute forextending their support to him andelecting him President, ICAB for 2010.He sought cooperation from all to enablehim discharge his responsibilities topromote the interest of the Institute andthe profession.

ICAB holds its 37th Annual General Meeting

Outgoing President Mr. Nasir Uddin Ahmed FCA introduces New office bearers for the year 2010 in 37th Annual General Meeting (AGM).

A section of Audience of 37th Annual General Meetng.


December - 200914

On 31 December 2009 Mr. Nasir

Uddin Ahmed FCA, President,

ICAB for 2009 formally handed

over the responsibility of the presidency of

the Institute to Mr. Jamaluddin Ahmed

Ph.D, FCA, President-elect for the year

2010 in a simple ceremony organized by

the Institute. The Secretary thanked both

the outgoing and incoming Presidents and

expected that 2010 will be another

successful year like 2009.

Immediate Past President Mr. Nasir Uddin

Ahmed FCA requested all employees of

ICAB to uphold the image of the Institute

above all personal interest and work with

diligence and sincerity. He stressed upon

all employees to devote to safeguard the

interest of the Institute. The function was

addressed by Mr. N I Chowdhury FCA,

Secretary, ICAB on behalf of ICAB

officers and staff.

The Secretary, ICAB in his respective speech

highlighted the achievements made during

the tenure of the outgoing President and

praised his sincere efforts and contributions

in upholding the honour and prestige of the

Institute both at home and abroad.

Dr Jamal Assumes Presidency of ICABNasir Accorded Farewell

Outgoing President Mr. Nasir Uddin Ahmed FCA delivering his speech regarding his farewell and reception of incoming President.

Dr Jamaluddin Ahmed FCA, President-ICAB photographed with office bearers of the Institute and Past Presidents and Vice-Presidents. Secretary and other employees ofICAB are also seen in the photograph.


December - 200915

Admission as AssociateThe following members have been admitted as Associate of theInstitute with effect from the dates mentioned against their names:

Name Effective DateMr. Mukit Ahmed ACA (1137) 20 August 2009Deputy ManagerReporting, Finance DivisionGrameenphone Ltd.Celebration PointPlot # 3&5, Road # 113/AGulshan-2, Dhaka

Mr. Mohammad Fuad Uddin Khan ACA (1138) 23 August 2009Manager (Finance)Equity Property Management Pvt. Ltd."MANASHI"1094/1196, O.R. Nizam Road, Chittagong

Mr. Chitta Ranjan Halder ACA (1139) 01 October 2009ManagerACNABINChartered AccountantsBSRS Bhaban (13th floor)12, Kawran Bazar, Com. AreaDhaka-1215

Mr. Muhammad Mahbubur Rahman Bhuiyan ACA (1140) 06 October 2009Manager (A&F)Abul Khair GroupD.T. RoadPahartali, Chittagong

Mr. Abu Sufian ACA (1141) 06 October 2009Manager (A&F)Abul Khair GroupD.T. RoadPahartali, Chittagong

Mr. Abdullah-Al-Mamun ACA (1142) 07 October 2009Manager (Audit & Consultancy)ACNABINChartered AccountantsBSRS Bhaban (13th Floor)12, Kawran Bazar Com. AreaDhaka-1215

Mr. Mohammad Moniruzzaman ACA (1143) 08 October 2009C/o. Rahman Rahman HuqChartered Accountants9, Mohakhali Com. Area (11th & 12th Floors)Dhaka-1212

Mr. Md. Shahariar Ahmed ACA (1144) 13 October 2009Assistant ManagerRahman Rahman HuqChartered Accountants9, Mohakhali Com. Area (11th & 12th Floors)Dhaka-1212

Name Effective Date

Mr. Mohammad Khaled Mansur ACA (1145) 13 October 2009Assistant ManagerRahman Rahman HuqChartered Accountants9, Mohakhali Com. Area (11th & 12th Floors)Dhaka-1212

Mr. Subhash Chandra Das ACA (1146) 25 October 2009Deputy DirectorBangladesh BankHead OfficeMotijheel Com. Area, Dhaka-1000

Mr. Md. Jasim Uddin ACA (1147) 03 November 2009Manager (Accounts)The IBN SINA Pharmaceutical Industries Ltd.House # 41, Road # 10/ADhanmondi R/A, Dhaka-1209

Mr. Ridwan Baree ACA (1148) 21 December 2009C/o. Mr. M A Baree FCAPartnerHoda Vasi Chowdhury & Co.Chartered Accountants (8th Level)7-9, Kawran Bazar, Dhaka-1215

The following members have been permitted to form Partnershipunder the name & style and effective date as mentioned below:Names Effective DateMr. A.S.M Ataul Karim FCA (66) 21 December 2009Mr. Mohammad Aslam ACA (859)Under the name & style ofM/s. Mohammad Ata Aslam & Co.,Chartered Accountants87, Purana Paltan Line (7th Floor)Dhaka

Permission to Form Partnership

Admission as FellowThe following members have been admitted as Fellow of theInstitute with effect from the date mentioned against their names:

Name Effective Date

Mr. MQM Lutful Baki FCA (749) 21 December 2009224, Canterbury RoadHeathmont, Vic-3135Australia

Mr. Mohammed Tofazzul Hussain FCA (848) 21 December 2009PartnerA.Qasem & Co.Chartered AccountantsSouthland Centre (3rd Floor)5, Agrabad Com. Area, Chittagong

Mr. Mohammed Jashim Uddin FCA (863) 21 December 2009Deputy General Manager (Accounts)The Daily Prothom Alo100, Kazi Nazrul Islam AvenueKawran Bazar, Dhaka-1215


December - 200916

The following members have been granted permission to trainArticled Students with effect from the dates as shown against theirnames:

Name Effective Date

Mr. Md. Abdul Haque Sarder ACA (878) 9 November 2009ProprietorMASH HaqueChartered Accountants821,West Kazi ParaMirpur, Dhaka-1216

Mr. Kamran Idris Choudhury FCA (369) 9 November 2009PartnerA. Qasem & Co.,Chartered AccountantsGulshan Pink City, Suites # 01-03Level-7, Plot # 15, Road # 103Gulshan Avenue, Dhaka-1212

Mr. Sultan Ahmed FCA (429) 15 December 2009PartnerAhmed Zaker & Co.Chartered Accountants304, Sk. Mujib RoadAgrabad C/AChitagong

Mr. AKM Mohitul Haq FCA (458) 15 December 2009PartnerAhmed Zaker & Co.Chartered Accountants40, Shaheed Sayed Nazrul Islam SaraniBijoy Nagar, Kakrail, Dhaka

Permission to Train Articled Students

Victory Day Observed

An ICAB team led by Mr. Md. Shahadat Hossain FCA, Vice President-ICAB visited Jatiyo Smriti Southa at Savar and paid profound respects to the martyrs of 1971.

Permission to Start PracticeThe following members have been granted permission to StartPractice as Public Accountant as partner with effect from the dateas shown against their names:

Name Effective Date

Mr. A.S.M Ataul Karim FCA (66) 21 December 2009PartnerMohammad Ata Aslam & Co.Chartered Accountants87, Purana Paltan Line (7th Floor)Dhaka

Mr. Mohammad Solaiman FCA (161) 21 December 2009ProprietorM. Solaiman & Co.Chartered Accountants522, Sheikh Mujib Road (3rd Floor)Agrabad C/A, Chittagong

Mr. Mohammad Aslam ACA (859) 21 December 2009PartnerMohammad Ata Aslam & Co.Chartered Accountants87, Purana Paltan Line (7th Floor)Dhaka

Mr. Md. Jahidul Islam ACA (1008) 21 December 2009ProprietorIslam Jahid & Co.Chartered Accountants128/1, East Tejturi Bazar (2nd Floor)Kawran Bazar, Dhaka-1215


December - 200917

Mr. Gopal Bijoy Singh FCA was

born in the year 1951 at Anowara

in Chittagong. He is a Fellow Member of

the Institute of Chartered Accountants of

Bangladesh (ICAB). He qualified as

Chartered Accountant in 1992. He obtained

his Honours in Commerce from Govt.

College of Commerce, Chittagong and

Masters in Accounting from University of

Chittagong, Chittagong.

He served work in various financial

organizations in the fields of Accounts,

Audit, Income Tax, VAT, Formation of

Company and legal advisor at Government,

Autonomous organization as well as

various NGO sectors .

He is a Resident Partner of Mohammad

Shahidullah & Co. Chartered Accountants

at Chittagong and completed the various

assignments under the Ministry of Jute &

Textile Industries, Fisheries & Livestock,

Petroleum and Mineral Resources from

1992 to till now.

Mr. Sarwar Uddin FCA was born in 1961

at Dagonbhuiyans, Feni. He completed his

graduation from Govt. College of

Commerce, Chittagong and MBA from

USTC, Chittagong. He is a Fellow Member

of the Institute of Chartered Accountants of

Banglades (ICAB).

He qualified as Chartered Accountant in

2000. He served in various companies in

the fields of Accounts, Audit, Finance and

Tax. For various professional works, he has

visited in various countries of the world.

At present he is a Senior Partner of Habib

Sarwar & Co., Chartered Accountants,

Chittagong.

Office Bearers of CRC-ICAB Elected

for 2010Mr Gopal Bijoy Sing FCA was elected Chairman and Mr

Sarwar Uddin FCA Honorary Secretary of the Chittagong

Regional Committee-ICAB for the year 2010.

The other members of CRC are Md. Shaifur Rahman

Mazumder FCA, Mr. Subrata Kumar Bhowmick FCA and Mr.

Abdul Awal FCA.

Mr Gopal Bijoy Sing FCAChairman

Md. Shaifur Rahman Mazumder FCAMember

Mr. Subrata Kumar Bhowmick FCAMember

Mr. Abdul Awal FCAMember

Mr Sarwar Uddin FCA Honorary Secretary

New Arrivals in the ICAB Central LibrarySI. # Author/Publisher Title

01. IASB International Financial Reporting Standards IFRS 2009

02. ICAB Study Manual on Assurance for CAProfessional Stage Knowledge Level

03. ICAB Study Manual on Management Information for CA Professional Stage Knowledge Level

04. ICAB Study Manual on Business and Finance for CA Professional Stage Knowledge Leel

05. ICAB Study Manual on Accounting for CA Professional Stage Knowledge Leel


December - 200918

Sl. # Name of Firm Total1 A. B. Saha & Co. 52 ABBAS KHAN & Co. 33 A Hoque & Co. 124 A K Azad & Co. 215 A K Deb & Co. 16 A Mannan & Co. 137 A Matin & Co. 418 A Qasem & Co. 919 A T Talukder & Co. 010 A Wahab & Co. 4511 ACNABIN 26812 Aftab Ahmed & Co. 1413 Ahmad & Akhtar 1414 Ahmed Khan & Co. 3715 Ahmed Mashuque & Co. 5316 Ahmed Shahid & Co. 3217 Ahmed Zaker & Co. 1118 Ahsan Ataul Azim & Co. 019 Ahsan Kamal Sadeq & Co. 3120 Ahsan Manzur & Co. 1121 Ahsan Rashid & Co. 1322 Ahsan Zamir & Co. 823 Aktar Amir & Co. 324 Alamgir & Idris 525 Alam Chowdhury Mostafa & Co. 2926 Ali Zahir & Co. 127 AMAL & LEENA 128 Andrew Gomes & Co. 029 Anisur Rahman & Co. 1130 Anwar Ahmed & Co. 831 Asad Zaman & Co. 1132 Ashraf Uddin & Co. 1933 Ashraful Haque Nabi & Co. 1134 Ata Khan & Co. 3435 Atik & Wahid 936 Atik Khaled & Co. 2737 Ayub & Mahmood 638 Aziz Halim Khair Chowdhury 13739 Azad Abul Kalam & Co. 740 B Alam & Co. 441 Baree Pear Shafiq Khan 1342 Basu Banerjee Nath & Co. 2343 Bokhteyar Humayun & Co. 044 C M Alam 345 Chowdhury Bhattacharjee & Co. 3046 Chowdhury Hossain Rashid & Co. 2647 Das Chowdhury Dutta & Co. 1948 Dewan Nazrul Islam & Co. 049 DHAR & Co. 950 Fazlul Hoque & Co. 051 G Biswas & Co. 23

Sl. # Name of Firm Total52 G Kabir & Co. 4853 G Mostafa & Co. 554 G Nabi & Co. 1055 Habib Sarwar & Co. 256 Hafiz Ahmed & Co. 1557 Haque Shahalam Mansur & Co. 2558 Hoda Vasi Chowdhury & Co. 29559 Hossen Delwar & Co. 060 Howladar Yunus & Co. 2561 Huda & Co. 762 Huda Hossain & Co. 3463 Hussain Farhad & Co. 1464 Irshadullah Patwary & Co. 265 Islam Aftab Kamrul & Co. 5766 Islam Quazi Shafique & Co. 1167 J R Chowdhury & Co. 1468 J U Ahmed & Co. 2569 K B Newaz & Co. 2470 K M Alam & Co. 2071 K M Hassan & Co. 7172 Kanchi Lal Das & Co. 273 Kazi Zahir Khan & Co. 2774 Khaja Shiraj & Co. 975 Khaleque Jamal Halder & Co. 2976 Khan Ayub 477 Khan Wahab Shafique Rahman & Co. 5778 M A Fazal & Co. 1679 M A Hussain & Co. 780 M A Malek Siddiqul Wali & Co. 481 M A Quader Kabir & Co. 482 M A Taleb & Co. 383 M A Zaman & Co. 3984 M Abdus Salam & Co. 885 M Ahmed & Co. 1486 M Hafiz & Co. 2287 M I Chowdhury & Co. 3388 M J Abedin & Co. 3089 M M Hossain & Co. 2990 M M Rahman & Co. 1991 M N Islam & Co. 6692 Mowla Mohmmad & Co. 893 M R Khan & Co. 2694 M Ruhul Amin & Co. 495 M Huque & Co. 696 M Z Islam & Co. 297 Mahbub Mohsin & Co. 1298 Mahfel Huq & Co. 1499 Mandal & Co. 14100 MARHK & Co. 9101 MASH Haque 2102 Masih Muhith Haque & Co. 14103 Masud Altaf & Co. 2

Sl. # Name of Firm Total104 Mijan Rahman Bhuiyan & Co. 8105 Mizan Islam & Co. 2106 Mohammad Ata Karim & Co. 0107 Mohammed Quddus & Co. 5108 Mohibullah & Co. 0109 Mollah Quadir Yusuf & Co. 28110 Muhammad Shaheedullah & Co. 46111 N Chakraborty & Co. 11112 N K Roy & Co. 50113 N L Roy & Co. 2114 Nurul Azim & Co. 18115 Nurul Faruk Hasan & Co. 36116 OCTOKHAN 1117 Pinaki & Company 45118 Quasem Abul & Co. 3119 Rahman Anis & Co. 2120 Rahman Kashem & Co. 49121 Rahman Mostafa Alam & Co. 3122 Rahman Mustafiz Haq & Co. 3123 Rahma Rahman Huq 42124 Rahman Thakur & Co. 6125 Razzaque & Co. 11126 S F Ahmed & Co. 171127 S H Khan & Co. 14128 S K Barua & Co. 22129 S M Zakaria & Co. 1130 S N Meahji & Co. 17131 Sadhan Das & Co. 10132 Saha Mazumder & Co. 137133 Sarwar Salamat & Co. 4134 Shafiq Basak & Co. 3135 Shafiq Mizan Rahman & Co. 14136 Shah Alam & Co. 6137 Shaha & Co. 6138 Shahadat Rashid & Co. 37139 S Q Khan & Co. 0140 S R Bose & Co. 7141 S R Islam & Co. 18142 Shiraz Khan Basak & Co. 6143 Syful Shamsul Alam & Co. 23144 T Hussain & Co. 12145 Tofayel Ahmed & Co. 7146 Toha Anwar Rouf & Co. 16147 Toha Khan Zaman & Co. 16148 Zahir Ahmed & Co. 68149 ZAHUR & MOSTAFIZ 0150 Zaman Hoque & Co. 15151 Zoha Zaman Kabir Rashid & Co. 33

Total 3466

Library Attendance December 2009Total Attendance was 3466 from the Chartered Accountants firms in the ICAB Central Library during the month of December 2009. The

list is given below:


December - 200919

ICAB Awards Recognition to the Brilliant Children of its Employees

Children of employees-ICAB take a photograph with ICAB Members at the end of the ceremony.

A section of Audience of Award giving ceremony for the brilliant children of the ICAB employees.

It was a memorable event for thechildren of employees of the Institute ofChartered Accountants of Bangladesh

(ICAB) to get such recognition from ICABfor their brilliant result. On 26 December2009 ICAB organized a award givingceremony for the brilliant children of theemployees, ICAB. ICAB has beenorganizing this kind of ceremony from 2004for the brilliant children of members. But forthe first time ICAB starts this programmefrom 2009.Mr. N I Chowdhury FCA, Secretary, ICABin his welcome address said that after 38years of ICAB’s establishment this kind ofprogramme was organized. He thankedPresident, Vice-Presidents, CouncilMembers of ICAB for their honestcooperation for this. Mr. Chowdhury saidthat the main objective of this ceremony wasto inspire the children to built up future. Healso added that C.A was most rightfulprofession which could make the futurebright. Mr. Nasir Uddin Ahmed FCA, President,ICAB was the Chief Guest on the occasion.He said, “though it is a little programme butthe importance of this is not small. Thebrilliant children will obviously get moreinspiration in their every sphere ofexamination in future.” He said that therewas no alternative to be industrious. It wouldmake a student success in life.Besides Mr. Md. Syful Islam FCA and Mr.

Md. Shahadat Hossain FCA, Vice Presidents,ICAB also spoke the occasion as SpecialGuests.The awardees are:Ms. Adiba Afzal Oishi for her brilliant resultin class five 2008 daughter of Mr. Md. AfzalHossain, Deputy Secretary (Exam), ICABand Mrs. Rokshana Parveen.Master Nazmul Haque Mazumder for hisbrilliant result in HSC examination 2009, sonof Mrs Khayrun Nahar, Sr. Librarian, ICABand Mr. Nurul Haque Mazumder.Master Prabal Debnath for his brilliant resultin HSC examination 2009, son of Mrs ManjuRani Debi, Course Administration, ICABand Dr. Paritosh Chandra Debnath.Master Md. Mohaiminul Islam his brilliantresult in SSC examination 2008, son of Mr.Iqbal Qasim, Sr. Assistant Secretary, ICAB

and Mrs. Shamsun Naher.Ms. Fatema Tuz-Zuhra for her brilliant resultin class five 2008, daughter of Mr. S MSekander, Sr. Assistant Secretary (Exam),ICAB and Mrs. Umme Hany Panna.Ms. Mahjabin Zannat Setu for her brilliantresult in class five 2009, daughter of Mr. Md.Mizanur Rahman, Computer Designer, ICABand Mrs. Fatema Begum Sumi.Master Md. Hasan Mahmud in his brilliantresult in SSC examination in 2009 andMaster Md. Sohrab Hossain in his brilliantresult in class five in 2008 sons of Mr. Md.Jashim Uddin, Dispatch Assistant, ICAB andMrs. Tasnur Begum.Master Noor Hossain Rony for his brilliantresult in class five 2009 son of Mr. NoorAhmed, Messenger boy, ICAB and MrsAleya Begum.


December - 200920

Chittagong: HBFC Building (3rd Floor), 1/D, Agrabad Com. Area, Chittagong, Bangladesh Tel: 880-31-724674 Fax: 880-31-813579 E-mail: [email protected] Chapter: Suite One, 2 Haydons Road, London SW19 1HL, United Kingdom Tel: 44-020 8544 1234 Fax: 44-020-8544 1400 E-mail:[email protected] American Chapter: 5 Massey Square, Suite-2519, Toronto, Ontario M4C 5L6, Canada Tel: 416-686 6760 Fax: 416-916 1091 E-mail: [email protected]

Published by the Editorial Board of the Council, The Institute of Chartered Accountants of Bangladesh (ICAB)100 Kazi Nazrul Islam Avenue, Dhaka 1215; Tel. 9117521, 9112672, 9115340 , 9137847 Fax: 880-02-8119399 E-mail: [email protected] Website: www.icab.org.bd

A Memorable Moment for the Brilliant Children of ICAB Employees

Documents

December 2009 ISSN 1993-5366 ICAB News Bulletin · his career with Padma Oil Company Limited as Manager, Fund Management and worked till June,1995.After that he joined as Financial