ConclusionAt ipresent ithe ineed ifor istrengthening ithe

Conclusion

At ipresent ithe ineed ifor istrengthening ithe icorporate igovernance iin iBangladesh iarises iwith ia iglobal idemand ifor ia isound iand itransparent icorporate iworld isystem. iCorporate igovernance iwas iviewed ias ithe itotal isystem ior icontrol imechanisms, iexternal ior iinternal, ithat iprovided ian ieffective imeans iof igood icorporate ibehavioral iprocess. iThis iprocess iensures iaccountability iof ithose iwho imatter imost iin ithe iprocess iand imaximizes ithe ivalue ifor ithe ishareholders iin ia ifully itransparent imanner. iFailure iin iinstitutions, ilegal ienforcement iand imarket ibehavior iresulted iin iweak icorporate igovernance iin iBangladesh.

iA ilarge inumber iof icompanies ilisted iin ithe istock iexchange iin iBangladesh ipay iinadequate iattention ito ifollow ithe i‘rules iof ibusinesses’ iand ifull idisclosure iof iinformation iand idemonstrate ilack iof icorporate inorms iand iresponsibility. iBut ithis iis ihopeful ithat ithere iis ino iserious iscandal iin irespect iof icorporate igovernance iin iBangladesh. iIt iis iseen ithat iin imany iareas, isystem idid inot iprovide iadequate iincentives iand imotivations iin iterms iof ilegal, iinstitutional ior ieconomic, ifor ithe ishareholders ito iencourage iand ienforce igood icorporate igovernance.

iAs ia iresult, ithey iadded, ithere iwere ihardly iany irewards ifor ithe icompanies ithat iinstituted igood icorporate igovernance ipractices iand ino ipenalties ifor ifailing ito ido iso. iDhaka iStock iExchange iis igoing ito iincorporate icorporate igovernance iprinciples iin ithe ilist iof ithe istock iexchange ito iensure ia icompetitive iatmosphere iin ithe icapital imarket.

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iHowever, ithe iSecurities iand iExchange iCommission inotified icertain ifurther iconditions ifor ithe ipublic ilisted icompanies iwith iany istock iexchange iin iBangladesh, ion imandatory ibasis, iin iorder ito iimprove icorporate igovernance iin ithe iinterest iof iinvestors iand ithe icapital imarket.

CG iis ia isystem iby iwhich ithe iorganizations iare idirected iand icontrolled. iThe igood igovernance iin ithe iorganization iensure ithe iprotection iof ithe iright iof iminority ishareholders, iequitable itreatment iof ishareholders, irecognition iof ithe iroles iof istakeholders, ithe iproper idisclosure iand itransparency iand ithe iclarification iof ithe iresponsibilities iof ithe iboard iof ithe iorganization. iCG iis ivital ifor igrowth iand istability iof ivarious ieconomic isectors. iAmongst ithem ithe itextile isector, iwhich ihappens ito ibe ithe iengine ibehind ideveloping icountry’s ieconomic iactivities, iis iin iutmost ineed ifor iprudent iand ieffective iregulation iboth iat ifirm iand imacro ilevel. iAt ia itime iwhen iBangladesh iis imaking iout ieffort ito iachieve ihigher ieconomic igrowth ithrough iexpanding iexport iand iindustrial ibase iof ithe ieconomy, ian iefficient, istable itextile isector iis iof ihuge iimportance ifor ithe icountry ifor iits irole ito ifacilitate iefficient iresource iallocation iand iflow iof ieconomic iactivities. i

To iconclude, igovernment icannot ilegislate ithe ipersonal iintegrity iof ikey iplayers iand ino iamount iof ilegislation ican isubstitute itrust, ifaith iand iconfidence inecessary ifor igood icorporate igovernance ipractice. iBut ias ithe ilead iregulatory ibody ioverseeing icorporate iaccounting iand ireporting, ithe iSEC ihas ia icritical irole ito iensure ithat ipublic icompany iboards iare iproperly istructured iand iorganized iand ihave ithe iresources ito iaccomplish ithe iobjectives iof iadding ivalue ito ishareholders, iminimize irisk iof ikey ishareholders iand ihold imanagement iresponsible ifor icorporate iresults. iRuthless imonitoring iof icompliance iand isevere ipunishment iof itransgressors ican iensure igood icorporate igovernance. iBut iBangladesh ihas ito iwait ia ilot ito iensure ienforcement iof iany icorrective imeasures iproperly.