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Review Workshop on Internal Control and Compliance of Banks held in BIBM


 

Press Release

A day long review workshop was held at the Bangladesh Institute of Bank Management (BIBM) on 29 March, 2018. A paper titled "Review of  Internal Control and Compliance of Banks – 2017" was presented in the workshop by  Md. Mohiuddin Siddique, Professor  & Director (DSBM) and Dr. Md. Mahabbat Hossain, Assistant Professor BIBM jointly. Other members of the review workhop team are Maksuda Khatun, Lecturer, BIBM, Sk. Nazibul Islam, Faculty Member, BIBM and Md. Rafiqul Islam, Deputy General Manager, Bangladesh Bank. The objectives are to find out the similarities and dissimilarities of internal control operations across the banks, to find out the strengths and weaknesses of ICC operations and to identify the changes in recent times by comparing the ICC environment with the previous year. The study also identifies the problem areas as well as success factors in ICC operations and suggests some possible measures for better functioning of ICCD of banks. A good number of participants including Managing Directors of different banks, ICCD heads, senior bank executives, academicians, media representatives, faculty members, officers of BIBM participated in the review workshop. Mr. Abu Hena Mohd. Razee Hassan, Chairman, Executive Committee, BIBM and Deputy Governor, Bangladesh Bank were present in the review worshop as the chief guest. He emphasized that ICC should act as a third eye for the board and the regulators. In addition to that, bank’s internal control system should act proactively. Syed Abu Naser Bukhtear Ahmed, Chairman, Audit Committee, Dhaka Bank Limited, Md. Yasin Ali, Supernumerary Professor, BIBM, Md. Mehmood Husain, Managing Director & CEO, NRB Bank Limited and A. F. M. Shariful Islam, Former Managing Director, National Bank were present in the workshop as designated discussants. Syed Abu Naser Bukhtear Ahmed emphasized on appointing knowledgeable person in ICCD as the ICCD covers all the operations of banks.  According to Md. Yasin Ali, the emplyees who have experience to work in ICCD should get extra benefit in case of getting poromotion as incentive. So, more efficient employees will be interested to work in this department. A. F. M. Shariful Islam mentioned that credit loss is the most acute problem in our banking indudtry thay mainly arises from selecting wrong borrower. Md. Mehmood Husain focused on the willingness of senior magament and the board members for the effectiveness of internal control and compliance of banks. Most of the participants have concentrated their discussion on some inconsistencies/deficiencies of the newly issued BB guidelines on ICC. Dr. Toufic Ahmad Choudhury, Director General of BIBM chaired the occassion. Dr. Choudhury has emphasized on developing corporate culture in the banking industry at this stage.##

Written by Manager

Tuesday 3rd April 2018