International Corporate Governance Network (ICGN)’s Post

Governance & Compliance Challenges This afternoon, I attended a thought-provoking webinar, expertly moderated by @Shaikh Mahmud bin Ilyas. The panelists, @Waheed Hassan, @Abbas Mirza, and @Abdul Qadir provided valuable insights into the current challenges surrounding Governance and Compliance, emphasising the importance of adhering to these principles in all types of companies, whether they are SMEs or large corporations. During the session, I shared my view point on the complexities of implementing Governance and Compliance in family-owned (Seth) businesses in Pakistan. The biggest challenge lies in balancing family dynamics with formal organisational structures. Issues such as a lack of clear roles and responsibilities, resistance to change from family members, and the blending of personal and business interests can complicate the establishment of effective governance frameworks. In the West, family-run businesses often thrive for over a century (@The Century Club), largely due to their strong adherence to compliance. However, in Pakistan, the lack of Governance and Compliance hinders long-term growth, and many companies don’t even survive to the third generation. One exception we can surely discuss is @Engro, which achieved its structure primarily through the transformation originally observed by @EXXON. Overall, there are not many companies in Pakistan that we presently see could claim a legacy of 100 years. #SECP, #PSX, #ESG, #PICG, #HMRWaterfront, #Goldcrest, #DHA, #REIT

Timely discussion! No time like the present for SACCOs to better assess credit risks and manage debt portfolios as they seek to enhance their financial strategies and efficiency. Go Rosemary Muturi Karachi! #Relational #BusinessSoftwareForTheGlobe #SACCA2024 #Technology

How to Hold Annual General Meetings in Bangladesh? In Bangladesh, holding Annual General Meetings (AGMs) is a vital responsibility for companies to ensure transparency and accountability to their shareholders. AGMs allow shareholders to review the company’s performance, elect directors, and make important decisions regarding its future. Understanding AGMs’ procedures and legal requirements is crucial for companies operating in Bangladesh to comply with regulatory frameworks and uphold corporate governance standards. Read more https://lnkd.in/gfnAT5vH

Get a sneak peek of the proposed Public Sector Governance Code and Not-for-Profit Governance Code by attending this draft exposure webinar. This will enable you to anticipate and prepare for the coming changes in governance structure and requirements for both sectors. This webinar is for you if you're in public sector, NGO space, a governance expert or enthusiast. Attendance is free, but registration is mandatory.

Analyzing Hindenburg's Latest Report Hindenburg Research's new report raises questions about connections between SEBI chief Madhabi Puri Buch and Adani-linked entities through a Mauritius-based fund. The report also highlights potential conflicts of interest in SEBI's corporate governance committee. Should officials with potential conflicts have recused themselves? How can we ensure regulatory integrity in such complex scenarios? #RegulatoryOversight #CorporateGovernance #FinancialInvestigations

Here comes the latest publication on “Analysis of Family Businesses in Bangladesh: Structure, Lifecycle, and Strategy” from the Advisory, Research, and Training Department of The Bangladesh Rating Agency Limited . In our study, we examined ten prominent Family Businesses in Bangladesh using analyses of the Corporate Diversification Strategy, Life Cycle, and the Three-Factor Model. We hope you enjoy reading this issue and look forward to your comments/suggestions. #familybusiness #familyenterprise #familybusinessBangladesh #bdral_creditrating #bdral_research

Under the new rules, companies listed on any stock exchange in Bangladesh must furnish their annual reports, including audited financial statements, management’s discussion and analysis, compliance certificates for the Corporate Governance Code, and Directors’ Reports, to their shareholders at least 14 days before the annual general meeting (AGM). This provision replaces the earlier sub-condition (1) of condition 9 of the BSEC’s Notification No BSEC/CMRRCD/2006-158/208/Admin/81 dated June 20, 2018. In addition to providing these reports to shareholders, companies are also required to submit five printed copies of their annual reports to the BSEC and the relevant stock exchange. This ensures that regulatory bodies have timely access to critical financial information, facilitating better oversight and enforcement of market regulations. Acknowledging advancements in digital technology, the notification allows companies to submit their annual reports to the BSEC in a computer-generated printed form. This flexibility aims to streamline the submission process and reduce administrative burdens on companies while maintaining high standards of reporting. The new notification is designed to enhance transparency and accountability among listed companies, ensuring that investors receive comprehensive and timely information. By mandating earlier distribution of annual reports, the BSEC aims to provide shareholders with sufficient time to review the financial performance and governance practices of companies before the AGM. #BSEC #Listedcompanies #Bangladesh

Insightful report

Today, the PEBEC released the 2023 Full-Year Business Facilitation Act (BFA) Compliance Report. The report analyzes the efficiency and transparency of priority MDAs in service delivery to businesses and citizens. Based on meticulous data collection and rigorous data analysis, the 2023 Full-Year BFA Compliance Report ranks the MDAs in order of their compliance to providing services in an efficient, timely, and customer-friendly manner. Overall, these MDAs stood out as the top 5 in the following order: 1. Nigerian Content Development & Monitoring Board (NCDMB) 2. Standards Organisation of Nigeria (SON) 3. Corporate Affairs Commission (CAC) 4. Federal Competition & Consumer Protection Commission (FCCPC) 5. Nigerian Export-Import Bank (NEXIM) Download the full report for details. #PEBECWorks #BFAComplianceReport #EaseOfDoingBusiness

In January 2024, the UAE @Securities and Commodities Authority (SCA) launched key amendments aimed at enhancing governance in listed public joint-stock companies. Discover the significance of these updates and their implications. For detailed analysis and strategies on optimising these governance amendments, download our comprehensive report here: https://pwc.to/3QyASjV PwC Middle East John Saead Adnan Zaidi FCA Maryam M. Zaman, CFA Dabeer Rasul Wael El Assal Azzah Fawzi Lina El Deek Cristina de Torres - CSCM, CIRO Lara Khayat Irfan Sadiq #governance #internalcontrols #regulatoryupdates