IDLC Finance Limited has been honored with the “Overall Winner of South Asian Federation of Accountants (SAFA) Award 2017” among eight SAARC countries. IDLC also achieved success in securing three category winner awards in Financial Services Sector, SAARC Anniversary Award for Corporate Governance and Integrated Reporting.
Each year SAFA Awards under different categories are conferred on the basis of evaluation administered by SAFA’s Committee for Improvement in Transparency, Accountability & Governance among the SAARC nations – Bangladesh, India, Sri Lanka, Pakistan, Nepal, the Maldives, Bhutan and Afghanistan.
The Awards have been handed to Aziz Al Mahmud, Chairman of IDLC Finance Limited and Arif Khan, CEO and Managing Director of IDLC Finance Limited in a grand ceremony on January 22, 2019 at 4.30 pm in the premises of Pune Chapter of the Institute of Cost Accountants of India, CMA Bhawan, Pune, India.
The Market Capitalization (Mcap) /GDP ratio lowered to 17% in 2018 from 24% in 2014, whereas the peer countries mostly picked up for peer countries. One potential reason for this phenomenon is lack of listing of large corporates in the market. However, 2018 witnessed a number of developments in the form of partnerships and regulations. The strategic partnership between DSE and a Chinese consortium of Shanghai and Shenzhen Stock exchanges is expected to contribute in capital market improvement. BSEC approved the draft Qualified Investor Offer by Small Capital Companies Rules, 2018 that is expected to increase efficiency of the market by providing a separate market for small cap companies.
Future prospect of the capital market in 2019 looks bright as government expects GDP growth to be at 7.8% and inflation at 5.6%. Economic Intelligence Unit (EIU) and UN predicted Bangladesh to be one of the fastest growing economy. Provided that interest rates remain under control and liquidity conditions improve, the market is expected to perform better. Stable political environment will attract foreign investment and improvement of exports and remittance can help ease pressure on currency.
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