B Mirror Report:  Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun has described Chartered Secretaries as the “economic defense team” of the country, stressing their crucial role in ensuring corporate integrity and sustaining economic stability.

He made the remarks while addressing a Continuing Professional Development (CPD) programme titled “Board Leadership”, organised by the Institute of Chartered Secretaries of Bangladesh (ICSB) at the Bangladesh Institute of Management (BIM) in the capital, said a press release.

Highlighting a prevailing trust deficit in society, the BIDA chief attributed it to governance shortcomings and declining ethical standards. He said Bangladesh must move beyond conventional domestic trade practices and deepen integration with the global economy to sustain growth.

Ashik Mahmud Bin Harun urged business leaders and policymakers to adopt a stewardship-based governance model instead of relying on traditional administrative approaches. He noted that Chartered Secretaries can play a pivotal role in restoring institutional trust by promoting transparency and accountability in corporate operations.

During the programme, ICSB leaders placed several recommendations to modernise the regulatory framework and improve investment facilitation.

ICSB President Hossain Sadat FCS called for the inclusion of a Chartered Secretary on the BIDA Advisory Board to strengthen governance expertise in investment strategies. He also stressed the need for mandatory Corporate Governance Audits and Secretarial Audits to ensure compliance and ethical practices.

Mohammad Sanaullah FCS, Past President and Chairman of ICSB’s Professional Development Committee, underscored the urgency of enacting a new Companies Act to attract and sustain foreign direct investment (FDI).

Presenting the keynote paper, Akhter Matin Chaudhury FCA, FCS described the Board of Directors as the central force behind governance, strategy and sustainable value creation. He identified ethical leadership, independence and diversity as key pillars of effective governance, while cautioning against regulatory complexities and governance gaps, particularly in family-run businesses.

A panel discussion at the event highlighted the evolving role of boards in ensuring sustainability and accountability. Md. Naharul Islam Molla, Managing Director of Unilever Consumer Care, emphasised trust-based governance and constructive board-management relations.

Mohammad Iqbal Chowdhury FCS, CEO of LafargeHolcim Bangladesh PLC, focused on transforming family-owned enterprises into professionally governed organisations, stressing transparency, leadership tone and the use of external expertise.