Market Status: Closed    Sat 20 Jan 18, 1:05 PM (BST)

1JANATAMF 6.60 0.1
FIRST JANATA BANK MF 9,529 1.54%
1STPRIMFMF 15.10 -0.1
PRIME FINANCE 1ST MF 1,388 -0.66%
AAMRANET 90.00 0.1
AAMRA NETWORKS LIMITED 10,730 0.11%
AAMRATECH 32.30 -0.4
AAMRA TECHNOLOGIES LTD. 2,865 -1.22%
ABBANK 19.70 0
AB BANK 162,317 0.00%
ACI 449.00 -5.6
ACI 3,580 -1.23%
ACMELAB 114.10 -0.4
THE ACME LABORATORIES LTD. 2,438 -0.35%
ACTIVEFINE 34.80 0
ACTIVE FINE CHEMICALS 5,613 0.00%
AFCAGRO 45.00 0.8
AFC AGRO BIOTECH LIMITED 2,529 1.81%
AFTABAUTO 62.00 0
AFTAB AUTO. 1,552 0.00%
AGNISYSL 21.60 -0.1
AGNI SYSTEMS 3,271 -0.46%
AIBL1STIMF 8.00 0.2
AIBL 1ST ISLAMIC MF 5,930 2.56%
ALARABANK 24.50 0.5
AL-ARAFAH ISLAMI BANK 61,708 2.08%
ALLTEX 11.70 0.1
ALLTEX IND. 1,170 0.86%
AMCL(PRAN) 221.70 -3.3
AMCL(PRAN) 1,000 -1.47%
ANLIMAYARN 31.80 0.3
ANLIMA YARN 3,132 0.95%
ANWARGALV 72.00 -1.2
ANWAR GALVANIZING 670 -1.64%
APEXFOODS 142.00 0
APEX FOOD 25 0.00%
APOLOISPAT 16.20 -0.1
APPOLLO ISPAT COMPLEX LTD 58,391 -0.61%
ARGONDENIM 30.60 0
ARGON DENIMS LIMITED 6,366 0.00%
ASIAPACINS 22.50 2
ASIA PACIFIC GENERAL INS. 10 9.76%
AZIZPIPES 162.00 0
AZIZ PIPE 488 0.00%
BANGAS 219.00 7.7
BANGAS 3,709 3.64%
BANKASIA 22.50 0.1
BANK ASIA 2,637,200 0.45%
BARKAPOWER 35.50 0
BARAKA POWER LIMITED 1,479 0.00%
BBS 37.20 -0.2
BANGLADESH BUILDING SYSTEMS LIMITED 10,288 -0.53%
BBSCABLES 103.30 1
BBS CABLES LTD. 13,005 0.98%
BDCOM 27.40 0.4
BDCOM ONLINE 22,179 1.48%
BDFINANCE 21.50 0.2
BD FINANCE 19,890 0.94%
BDTHAI 30.20 -0.7
BD. THAI ALLUMINIUM 35,424 -2.27%
BDWELDING 25.50 0.9
BD WELDING 10,210 3.66%
BEACHHATCH 17.70 0.1
BEACH HATCHERY 23,254 0.57%
BEACONPHAR 21.20 0.1
BEACON PHARMA 28,377 0.47%
BENGALWTL 37.90 -0.4
BENGAL WINDSOR THERMOPLASTICS LIMITED 2,460 -1.04%
BEXIMCO 26.70 0.2
BEXIMCO LIMITED 157,038 0.75%
BGIC 20.30 0
BANGLADESH GENERAL INS. 58 0.00%
BIFC 10.40 0.1
BD INDUSTRIAL FINANCE 130 0.97%
BNICL 18.10 0.1
BANGLADESH NATIONAL INSURANCE COMPANY LIMITED 16,900 0.56%
BRACBANK 101.00 -1.4
BRAC BANK 6,135 -1.37%
BSC 44.30 0
B.S.C. 9,071 0.00%
BSCCL 104.10 -0.9
BANGLADESH SUBMARINE CABLE CO. LTD. 3,848 -0.86%
BSRMLTD 99.30 0.3
BANGLADESH STEEL RE-ROLLING MILLS LIMITED 9,677 0.30%
BSRMSTEEL 76.30 -0.3
BSRM STEELS 6,967 -0.39%
BXPHARMA 103.10 -0.2
BEXIMCO PHARMA 1,210 -0.19%
BXSYNTH 10.30 0.8
BEXIMCO SYNTHETICS 246,594 8.42%
CENTRALPHL 18.90 -0.1
CENTRAL PHARMACEUTICALS LIMITED 14,672 -0.53%
CITYBANK 45.30 -0.2
CITY BANK 25,805 -0.44%
CNATEX 8.60 0.1
C & A TEXTILES LIMITED 87,600 1.18%
CONFIDCEM 157.20 -0.4
CONFIDENCE CEMENT 393 -0.25%
CONTININS 20.60 0
CONTINENTAL INSURANCE 339 0.00%
CVOPRL 220.00 -0.7
CVO PETROCHEMICAL 5,164 -0.32%
DACCADYE 9.00 0.2
DACCA DYEING 11,499 2.27%
DAFODILCOM 43.00 -0.8
DAFFODIL COMPUTERS 875 -1.83%
DBH 130.00 -2
DELTA BRAC HOUSING 3,400 -1.52%
DBH1STMF 9.30 -0.2
DBH FIRST MF 1,000 -2.11%
DELTALIFE 102.00 -3.8
DELTA LIFE INSURAN 530 -3.59%
DELTASPINN 9.40 0
DELTA SPINNERS 60,193 0.00%
DESCO 44.40 -0.2
DHAKA ELECTRIC SUPPLY 7,300 -0.45%
DESHBANDHU 23.00 0.1
DESHBANDHU POLYMER 12,070 0.44%
DHAKABANK 19.90 0.1
DHAKA BANK 14,367 0.51%
DOREENPWR 117.20 0.3
DOREEN POWER GENERATIONS AND SYSTEMS LIMITED 3,270 0.26%
DSSL 22.20 -0.2
DRAGON SWEATER AND SPINNING LIMITED 219,089 -0.89%
EBL 45.10 -0.6
EASTERN BANK 657 -1.31%
EBL1STMF 10.00 0
EBL FIRST MF 26,287 0.00%
ECABLES 202.00 -1.1
EASTERN CABLES 575 -0.54%
EHL 51.00 0.8
EASTERN HOUSING 8,312 1.59%
EMERALDOIL 18.20 -0.3
EMERALD OIL INDUSTRIES LIMITED 4,070 -1.62%
ENVOYTEX 34.20 -0.3
ENVOY TEXTILES LIMITED 32 -0.87%
ETL 17.30 0
EVINCE TEXTILES LIMITED 22,080 0.00%
EXIM1STMF 6.60 -0.4
EXIM BANK 1ST MUTUAL FUND 40,000 -5.71%
EXIMBANK 16.40 -0.1
EXPORT IMPORT BANK 55,303 -0.61%
FAMILYTEX 7.50 0
FAMILYTEX(BD) LIMITED 56,594 0.00%
FARCHEM 19.00 0.1
FAR CHEMICAL INDUSTRIES LIMITED 22,141 0.53%
FAREASTFIN 11.10 -0.2
FAREAST FINANCE & INVESTMENT LIMITED 12,310 -1.77%
FAREASTLIF 68.30 1.3
FAREAST ISLAMI LIFE INS. 267 1.94%
FASFIN 19.90 0.2
FAS FINANCE & INVESTMENT 22,118 1.02%
FBFIF 5.70 0.1
FIRST BD FIXED INCOME FUND 16,002 1.79%
FEDERALINS 12.30 0.1
FEDERAL INSURANCE 2,500 0.82%
FEKDIL 19.30 0
FAR EAST KNITTING & DYEING INDUSTRIES LIMITED 20,635 0.00%
FINEFOODS 34.60 -0.4
FINE FOODS 2,863 -1.14%
FIRSTSBANK 14.30 0.1
FIRST SECURITY ISLAMI BANK 37,228 0.70%
FORTUNE 37.50 -0.6
FORTUNE SHOES LIMITED 19,204 -1.57%
FUWANGCER 16.40 -0.1
FU-WANG CERAMIC 22,265 -0.61%
FUWANGFOOD 19.60 0
FU-WANG FOODS 66,291 0.00%
GBBPOWER 18.60 0
GBB POWER LIMITED 2,755 0.00%
GENNEXT 9.40 0.1
GENERATION NEXT FASHIONS LIMITED 287,263 1.08%
GHAIL 43.30 0.8
GOLDEN HARVEST AGRO INDUSTRIES LIMITED 31,882 1.88%
GOLDENSON 13.50 0.7
GOLDEN SON 61,823 5.47%
GP 484.00 3.2
GRAMEENPHONE 8,409 0.67%
GPHISPAT 39.70 0.4
GPH ISPAT LIMITED 30,622 1.02%
GQBALLPEN 87.50 -1.9
GQ BALL PEN 250 -2.13%
GRAMEENS2 16.00 0.6
GRAMEEN MF TWO 9,006 3.90%
GREENDELMF 9.20 0
GREEN DELTA MF 90 0.00%
GSPFINANCE 29.50 -0.2
GSP FINANCE (BD) LTD 2,990 -0.67%
HAKKANIPUL 55.00 -1
HAKKANI PULP & PAPER 1 -1.79%
HEIDELBCEM 408.30 0.3
HEIDELBERG CEMENT 500 0.07%
HFL 26.80 -0.1
HAMID FABRICS LIMITED 12,720 -0.37%
HRTEX 32.60 -0.8
H.R. TEXTILES 14,850 -2.40%
HWAWELLTEX 37.00 0
HWA WELL TEXTILES (BD) LIMITED 270 0.00%
IBBLPBOND 980.00 0
IBBL MUDARABA BOND 10 0.00%
ICB 157.80 3.3
I.C.B. 240 2.14%
ICB3RDNRB 6.40 -0.1
ICB AMCL 3RD NRB MF 1,000 -1.54%
ICBEPMF1S1 7.20 -0.2
ICB EMPLOYEES PROV MF-1 1,000 -2.70%
IDLC 80.00 -1
IDLC FINANCE 23,000 -1.23%
IFADAUTOS 131.10 2.4
IFAD AUTOS LIMITED 9,607 1.86%
IFIC 16.90 0.1
IFIC BANK 50,441 0.60%
IFIC1STMF 6.10 0.1
IFIC BANK 1ST MF 2,048 1.67%
IFILISLMF1 7.50 0.1
IFIL ISLAMIC MF-1 1,000 1.35%
ILFSL 21.60 -0.2
INTERNATIONAL LEASING 2,028 -0.92%
IMAMBUTTON 41.80 0.5
IMAM BUTTON 4,219 1.21%
INTECH 18.00 -0.4
INTECH ONLINE 30,165 -2.17%
IPDC 50.50 0.6
INDUSTRIAL PROMOTION 16,390 1.20%
ISLAMIBANK 34.20 -0.3
ISLAMI BANK 37,100 -0.87%
ISLAMICFIN 20.30 0.4
ISLAMIC FINANCE 1,934 2.01%
ITC 35.30 0.3
INFORMATION TECHNOLOGY CONSULTANTS LIMITED 1,210 0.86%
JAMUNABANK 20.50 0.2
JAMUNA BANK 1,141 0.99%
JAMUNAOIL 192.00 0
JAMUNA OIL 319 0.00%
JANATAINS 16.10 -0.2
JANATA INSURANCE 3,000 -1.23%
JMISMDL 178.40 -1
JMI SYRINGES & MEDICAL DEVICES LTD. 2,515 -0.56%
KAY&QUE 140.20 0.2
KAY & QUE (BD) 60 0.14%
KBPPWBIL 17.30 0.1
KHAN BROTHERS PP WOVEN BAG INDUSTRIES LIMITED 13,775 0.58%
KDSALTD 65.10 -0.1
KDS ACCESSORIES LIMITED 2,990 -0.15%
KEYACOSMET 11.70 -0.1
KEYA COSMETICS 198,722 -0.85%
KPCL 57.30 -0.2
KHULNA POWER 761 -0.35%
KPPL 12.00 0.3
KHULNA PRINTING & PACKAGING LIMITED 42,534 2.56%
LAFSURCEML 61.60 -0.2
LAFARGE SURMA CEMENT 101,276 -0.32%
LANKABAFIN 45.00 0
LANKA BANGLA FINANCE 23,990 0.00%
LEGACYFOOT 56.90 -0.6
LEGACY FOOTWEAR 14,591 -1.04%
LIBRAINFU 505.00 3.8
LIBRA INFUSIONS 50 0.76%
LINDEBD 1,282.00 -8
LINDE BANGLADESH LTD 32 -0.62%
LRGLOBMF1 7.90 -0.1
LR GLOBAL BANGLADESH MF ONE 200 -1.25%
MAKSONSPIN 10.30 0
MAKSONS SPINNING 1,247 0.00%
MALEKSPIN 19.60 -0.5
MALEK SPINNING 3,940 -2.49%
MARICO 1,150.00 10
MARICO BANGLADESH 270 0.88%
MATINSPINN 40.00 1
MATIN SPINNING MILLS LIMITED 648 2.56%
MEGHNALIFE 56.50 0.5
MEGHNA LIFE INSURANCE 509 0.89%
MERCANBANK 23.90 -0.1
MERCANTILE BANK 20,672 -0.42%
MERCINS 22.00 0
MERCANTILE INSURANCE 2,000 0.00%
METROSPIN 12.60 0.3
METRO SPINNING 6,899 2.44%
MHSML 20.10 0.3
MOZAFFAR HOSSAIN SPINNING MILLS LIMITED 20,768 1.52%
MICEMENT 82.50 -1.5
M.I. CEMENT 378 -1.79%
MIDASFIN 45.10 -0.2
MIDAS FINANCING 150 -0.44%
MIRACLEIND 44.60 -0.3
MIRACLE INDUSTRIES 24,485 -0.67%
MITHUNKNIT 29.10 0.7
MITHUN KNITTING 11,417 2.46%
MJLBD 108.50 -0.4
MJL BANGLADESH LIMITED 1,071 -0.37%
MONNOCERA 89.00 -2.2
MONNO CERAMIC 1,269 -2.41%
MPETROLEUM 191.00 1.2
MEGHNA PETROLEUM 626 0.63%
MTB 33.20 -0.1
MUTUAL TRUST BANK LIMITED 500 -0.30%
NAHEEACP 59.60 -2.3
NAHEE ALUMINUM COMPOSITE PANEL LTD. 126,225 -3.72%
NAVANACNG 67.20 0.4
NAVANA CNG 200 0.60%
NBL 12.70 0.1
NATIONAL BANK 419,166 0.79%
NCCBANK 17.00 0
NATIONAL CREDIT & COM. BNK 54,325 0.00%
NFML 17.90 0.1
NATIONAL FEED MILL LIMITED 14,831 0.56%
NORTHRNINS 22.30 0.1
NORTHERN GENERAL INS. 8 0.45%
NPOLYMAR 86.00 -0.9
NATIONAL POLYMER 1,500 -1.04%
NTC 620.00 0
NATIONAL TEA 80 0.00%
NURANI 18.10 -0.1
NURANI DYEING & SWEATER LIMITED 11,850 -0.55%
OAL 19.50 -0.1
OLYMPIC ACCESSORIES LIMITED 31,784 -0.51%
OIMEX 58.00 -2.5
OIMEX ELECTRODE LIMITED 40,228 -4.13%
OLYMPIC 274.90 0.6
OLYMPIC INDUSTRIES 1,020 0.22%
ONEBANKLTD 21.80 0
ONE BANK 8,264 0.00%
ORIONINFU 55.50 0.4
ORION INFUSION 3,300 0.73%
ORIONPHARM 47.80 0.1
ORION PHARMA LIMITED 1,100 0.21%
PADMALIFE 48.90 1.3
PADMA ISLAMI LIFE INSURANCE 1,863 2.73%
PADMAOIL 236.10 0.7
PADMA OIL 50 0.30%
PDL 19.40 -0.1
PACIFIC DENIMS LIMITED 15,230 -0.51%
PENINSULA 22.40 -0.3
THE PENINSULA CHITTAGONG LIMITED 26,053 -1.32%
PF1STMF 6.90 -0.1
PHOENIX FINANCE 1ST MF 500 -1.43%
PHPMF1 6.40 0.1
PHP FIRST MF 1,542 1.59%
PLFSL 13.50 0.3
PEOPLE'S LEASING 5,850 2.27%
POPULAR1MF 6.10 0.1
POPULAR LIFE FIRST MF 25,000 1.67%
POWERGRID 52.00 -0.2
POWER GRID 15,930 -0.38%
PRAGATIINS 29.00 -3
PRAGATI INSURANCE 25 -9.38%
PRAGATILIF 102.00 -0.5
PRAGATI LIFE INSURANCE 500 -0.49%
PREMIERBAN 14.50 -0.2
PREMIER BANK 87,896 -1.36%
PREMIERLEA 16.60 0
PREMIER LEASING 232,650 0.00%
PRIME1ICBA 7.20 0.2
PRIME BANK 1ST ICB AMCL MF 1,000 2.86%
PRIMEBANK 24.00 -0.3
PRIME BANK 15,500 -1.23%
PRIMEFIN 11.50 -0.2
PRIME FINANCE 11,212 -1.71%
PRIMETEX 25.60 0
PRIME TEXTILE 2,300 0.00%
PROGRESLIF 69.00 -7
PROGRESSIVE LIFE INS. 100 -9.21%
PTL 45.20 1
PARAMOUNT TEXTILE LIMITED 23,718 2.26%
PUBALIBANK 28.20 -0.3
PUBALI BANK 3,482 -1.05%
QSMDRYCELL 76.40 -0.5
QUASEM DRYCELLS 850 -0.65%
RAHIMAFOOD 161.00 5
RAHIMA FOOD CORP. 505 3.21%
RAKCERAMIC 58.50 0
R.A.K. CERAMICS 12,500 0.00%
RANFOUNDRY 128.20 0.4
RANGPUR FOUNDRY 600 0.31%
RDFOOD 17.20 -0.1
RAGPUR DAIRY & FOOD PRO 10,193 -0.58%
REGENTTEX 20.30 -0.2
REGENT TEXTILE MILLS LIMITED 12,709 -0.98%
RNSPIN 16.50 0
R. N. SPINNING 53,505 0.00%
RSRMSTEEL 60.00 -0.8
RATANPUR STEEL RE-ROLLING MILLS LIMITED 43,626 -1.32%
RUPALIBANK 58.40 -0.9
RUPALI BANK 3,952 -1.52%
RUPALIINS 20.70 1.1
RUPALI INSURANCE 1,000 5.61%
RUPALILIFE 48.00 0.8
RUPALI LIFE INSURANCE 2,510 1.69%
SAFKOSPINN 17.50 -0.3
SAFKO SPINING 18,970 -1.69%
SAIFPOWER 31.80 -0.5
SAIF POWERTEC LTD. 435,205 -1.55%
SAIHAMCOT 17.00 -0.1
SAIHAM COTTON MILLS LTD. 2,350 -0.58%
SAIHAMTEX 19.80 0
SIAHAM TEXTILE 5,025 0.00%
SALAMCRST 33.40 -0.1
S ALAM STEELS 1,655 -0.30%
SALVOCHEM 22.00 0.1
SALVO CHEMICAL 25,085 0.46%
SAMATALETH 70.00 0.3
SAMATA LEATHER 399 0.43%
SAMORITA 83.00 1.7
SAMORITA HOSPITAL 302 2.09%
SANDHANINS 31.20 -0.4
SANDHANI LIFE INS. 2,075 -1.27%
SAPORTL 34.90 0.1
SUMMIT ALLIANCE PORT 12,320 0.29%
SEMLLECMF 7.70 0
SEML LECTURE EQUITY MANAGEMENT FUND 13,900 0.00%
SHAHJABANK 30.60 1.2
SHAHJALAL ISLAMI BANK 78,769 4.08%
SHEPHERD 30.20 -0.9
SHEPHERD INDUSTRIES LIMITED 35,980 -2.89%
SHURWID 16.60 0.6
SHURWID INDUSTRIES LTD. 132,039 3.75%
SIBL 22.80 -0.2
SOCIAL ISLAMI BANK 19,920 -0.87%
SIMTEX 30.00 0
SIMTEX INDUSTRIES LIMITED 613 0.00%
SINGERBD 193.00 0.5
SINGER BD 2,205 0.26%
SINOBANGLA 58.80 1.1
SINOBANGLA INDUSTRIES 2,365 1.91%
SONARBAINS 17.90 -0.8
SONAR BANGLA INSURANCE 105 -4.28%
SONARGAON 18.40 1.6
SONARGAON TEXTILE 14,086 9.52%
SOUTHEASTB 20.50 0
SOUTHEAST BANK 102,124 0.00%
SPCERAMICS 21.70 1
SHINEPUKUR CERAMICS 76,363 4.83%
SQUARETEXT 61.50 0
SQUARE TEXTILES 1,340 0.00%
SQURPHARMA 323.10 7.8
SQUARE PHARMA 91,421 2.47%
STANDARINS 31.70 2.5
STANDARD INSURANCE 1,505 8.56%
STANDBANKL 14.90 0.2
STANDARD BANK 19,425 1.36%
SUMITPOWER 35.50 -0.4
SUMMIT POWER 2,774 -1.11%
TALLUSPIN 11.20 0.5
TALLU SPINNING 63,409 4.67%
TITASGAS 43.80 0.1
TITAS GAS 19,237 0.23%
TOSRIFA 24.00 -0.2
TOSRIFA INDUSTRIES LIMITED 16,426 -0.83%
TRUSTB1MF 6.40 0.1
TRUST BANK FIRST MF 12,505 1.59%
TRUSTBANK 40.00 0.5
TRUST BANK 13,074 1.27%
TUNGHAI 9.70 0
TUNG HAI KNITTING AND DYEING LIMITED 20,921 0.00%
UCB 21.80 0.6
U.C.B.L. 141,658 2.83%
UNIONCAP 19.10 -0.3
UNION CAPITAL 5,307 -1.55%
UNIQUEHRL 54.50 -0.6
UNIQUE HOTEL & RESORTS LTD. 15 -1.09%
UNITEDAIR 5.50 0.1
UNITED AIRWAYS 95,127 1.85%
UPGDCL 164.00 -0.8
UNITED POWER GENERATION & DISTRIBUTION COMPANY LIMITED 1,921 -0.49%
USMANIAGL 90.50 -0.9
USMANIA GLASS 2,219 -0.98%
UTTARABANK 32.70 0
UTTARA BANK 3,928 0.00%
UTTARAFIN 69.00 -1
UTTARA FINANCE 795 -1.43%
WMSHIPYARD 30.00 -0.1
WESTERN MARINE SHIPYARD LIMITED 112,099 -0.33%
YPL 21.80 -0.2
YEAKIN POLYMER LIMITED 6,856 -0.91%
ZAHEENSPIN 22.00 -0.2
ZAHEEN SPINNING LIMITED 8,150 -0.90%
ZAHINTEX 16.50 -0.3
ZAHINTEX INDUSTRIES LIMITED 3,800 -1.79%

CORPORATE GOVERNANCE GUIDELINE

The Bangladesh Securities and Exchange Commission has initiated 'Corporate Governance' guidelines for the listed companies on 9th February 2006. The guidelines are not compulsory for the listed companies but the reasons for non-compliance of the provision of the guidelines have to be explained to the Commission:

Salient features of the guidelines are:

  • The number of Board of Directors should not be less than 5 (five) and more than twenty. The Banks, non-bank financial institutions, insurance companies and statutory bodies shall follow the prescription of their respective primary regulators in this regard.
  • Appointment of at least one-fifth of the total number of the company's board of directors should be 'independent non-shareholders directors' in the Board.
  • The Chairman and the Chief Executive officer simultaneously can not be the same person and the Board should clearly define their respective roles and responsibilities.
  • The "Directors' Report" prepared as per Companies Act may include additional statements on :-
    • The financial statement presents fairly company's state of affairs, the results of its operation, cash flows and change is equity. While preparing the financial statement -

      The accounting estimates are based on reasonable and prudent judgement

      Appropriate accounting policies have been consistently applied

      IAS is followed in preparation of the financial statements

      Proper books of accounts have been maintained

    • Disclosure on company's ability as a going concern and if not so then the fact along with the reasons thereof,
    • Explanation on the significant deviation from last year in operating results, if so happened,
    • Summarize of at least last three years key operating and financial data,
    • Reasons for non declaration of dividend (if not declared) for the year,
    • Significant plans and decisions along with future prospects and risks
    • Number of Board Meetings held during the year and attendance by directors,
    • Aggregate number of shares held by:

      Parent/Subsidiary/Associate companies,

      Directors, CEO, Company Secretary, CFO, Head of Internal Audit and their spouse and minor children,

      Top five salaried employs other than the above mentioned persons

      Shareholders holding ten percent or more voting interest in the company

  • The Companies is required to appoint a Chief Financial Officer (CFO), a Head of Internal Audit and a Company Secretary. The CFO and Company Secretary are required to attend the Board meeting.
  • The companies will form an Audit Committee comprising of at least three members including at least one independent non - shareholder director. The Audit Committee shall assist the Board in handling the issues, which might be overlooked and ensures a good monitoring system within the business.
  • The Committee is required to make report on its activities to the Board. An immediate report have to made to the Board on the following findings:
    • conflict of interest;
    • suspected or presumed fraud or irregularity or material defect in the internal control system
    • suspected infringement of laws
  • The Board of Director shall rectify everything, which as per Committee Report has material impact on the financial condition and results of operation of the Company. The Committee has to report to the Commission if the Board has unreasonably ignored the rectification.
  • The company will not engage its external/statuary auditors to provide the Bookkeeping, Broker-dealer, Actuarial, Internal audit services or any other service that the Audit committees determine.

    The guidelines will definitely help to protect the rights of minority shareholders as well as ensure more transparency and accountability in the Management of the companies.