Investors, clients trust clean businesses: Tofail

Commerce minister Tofail Ahmed Friday placed importance on 'ethical leadership' in the corporate sector, saying it is needed to attain competitive edge and add value to business.
"Ethical leadership is not merely a necessity; it is now an opportunity, a source of competitive advantage for companies and a tool to add business value," Mr Ahmed said.
He was addressing an inaugural session of a convention as the chief guest in the city.
Institute of Chartered Secretaries of Bangladesh (ICSB) arranged the 5th National Convention 2014 on the theme "Corporate Leadership: Enhancing Governing Excellence".
The opening session was addressed, among others, by Mohammad Asad Ullah FCS, president of ICSB, Itrat Husain FCS, past president and council member of ICSB, M Naseemul Hye senior vice president of the institute, and Dr Feroz Iqbal Faruque FCS, former senior vice president of ICSB.
Citing essence of ethical practice in the corporate sector, the commerce minister said that if an organisation becomes corrupt, its legitimacy declines, which in turn stifles business and the whole economy.
"In a system, when one organisation subverts the law, it becomes much harder for others to operate cleanly. This is where ethical leadership is a necessity," he added.
He said a company practicing ethical principles is more trusted by customers, shareholders and investors, and will be more successful comparing those having less ethical practices.
Saying ethical leadership) does not come overnight, Mr Ahmed laid stress on building habit, imposing proper regulations, enhancing education and communications, and having necessary support in the work place and society, motivation and recognition in order to pursue ethics.
Mr Asad Ullah highlighted the importance of chartered secretaries, the need of their professional knowhow and skill for the sake of establishing good corporate governance in the country.
He requested the minister to take effective measures to sanction a Tk 140 million fund from the government's development fund to build its own office at Aftabnagar in the city.
Later, three separate technical sessions on different themes took place at the convention. The themes are Ethical Leadership Promotes Governing Excellence, Leading Effective Boards-Ensure Governance, and The Changing Role of Company Secretary from Compliance to Governance.
In the evening, the 5th Convocation of ICSB was held, officials said, adding that 60 students, qualified for chartered secretaries in a two-and-a-half year course, were given certificates at the convocation.
Former commerce secretary and chairman of Bangladesh Securities and Exchange Commission (BSEC) Faruk Ahmed Siddiqi was the chief guest at the convocation while Dhaka University vice-chancellor AAMS Arefin Siddique was the convocation speaker and special guest.
Among others, M. Sridharan, president of Institute of Chartered Secretaries of India (ICSI), CS Nesar Ahmed, past president of ICSI, were also the special guests while Heng Chiang Pooh, honourary secretary of MAISCA (Malaysia), was the guest of honour at the convocation.
Presided over by ICSB president, the convocation was also attended, among others, by Md Monirul Alam, vice president of ICSB, Mohammad Sanaullah, examination committee chairman, and Md Shahid Farooqui, chairman of the convocation committee.
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