ICMAB partners CIPFA to improve public financial management

The Chartered Institute of Public Finance and Accountancy (CIPFA), UK, and The Institute of Cost and Management Accountants of Bangladesh (ICMAB) have signed a Memorandum of Understanding (MoU) to further strengthen public financial management in Bangladesh.

Khalid Hamid, CIPFA International Director, and Mahtab Uddin Ahmed, President of ICMAB, exchanged the documents of the MoU at the signing ceremony held at a hotel in Dhaka recently, says a statement.

Md Mahbub-Ul-Alam, Executive Director of ICMAB; Md Kausar Alam, Vice President; Mohammed Salim, Past President; and Dr Nikhil Chandra Shil, Adviser to ICMAB; were present at the ceremony.

This strategic partnership lays the foundation for future collaboration between the two institutions.

Both organisations will work together to enhance public financial management systems in Bangladesh.

The agreement includes provisions for dual membership opportunities, the advancement of the accountancy profession in the public sector, and various professional development initiatives for ICMAB members.

As leading professional accountancy bodies, CIPFA and ICMAB are committed to serving the public interest by promoting transparency, accountability, and good governance in public sector financial management.

The MoU reflects the shared vision of both institutions to leverage their expertise and experience in building capacity and confidence in public sector institutions across Bangladesh.

This collaboration marks a significant step towards strengthening financial management and governance frameworks in the country, ensuring sustainable and high-quality public financial practices.