ICMAB

A delegation of ICMAB led by its President Mr. Jamal Ahmed Choudhury had an exclusive meeting at Ministry of Commerce (MoC) on the draft Companies Act-2016 on August 16, 2017.

20170816 165921

Ministry of Commerce of the Government of the People’s Republic of Bangladesh had taken an initiative to prepare Draft New Company Act-2016. Ministry via an official letter requested ICMAB to review the draft of Companies Act-2016 and make a presentation regarding ICMAB’s recommendations on the draft Act. Considering the matter professionally the President of ICMAB constituted a 7 (seven) member Committee to accomplish this huge task of reviewing 516 sections of the draft Act. The Committee Members are as follows:
1.    Mr. Satipati Moitra FCMA
2.    Mr. Mohammed Salim FCMA
3.    Mr. Md. Abdur Rahman Khan FCMA
4.    Prof. Dr. Swapan Kumar Bala FCMA
5.    Mr. Abdul Matin Patwary FCM A
6.    Mr. Md. Kausar Alam FCMA
7.    President ICMAB ( himself)

President also engaged Executive Director, ICMAB to assist the committee for all secretarial support.

After reviewing the draft Act-2016 with 15 (days) of rigorous work ICMAB finally submitted made a draft comments & recommendation for Ministry of Commerce.

On July 16, 2017 an exclusive meeting was held with ICMAB at Ministry of Commerce. The meeting was chaired by of Mr. Shubhashish Bose, Hon'ble Secretary, Ministry of Commerce. ICMAB presented the draft through power point presentation. The presentation was made by Dr. Nikhil Chandra Shil FCMA. The presentation and discussion was very lively and interactive throughout 2.50 hours long meeting. Additional Secretaries, Registrar of Joint stock companies & firms, Representatives from Bangladesh Securities and Exchange Commission and other high officials of the Ministry widely participated in the discussion.

The secretary appreciated a lot of this task and thanked ICMAB that to carry out this massive work. He also praised ICMAB that whenever any work given for national interest, ICMAB take the matter earnestly and do the job actively for further advancement. President ICMAB also assured Commerce Secretary that ICMAB is always ready to perform any given opportunity for the sake of the nation.     

A delegation of ICMAB led by its President Mr. Jamal Ahmed Choudhury FCMA called on Engineer Mosharrof Hossain MP, Minister, Ministry of Housing and Public Works, Government of the People’s Republic of Bangladesh at his office on March 05, 2017.

call on Housing Minister-0

The ICMAB President apprised the Minister regarding the present status and activities of the Institute and sought all out support from the Government for its further and rapid development. The Minister highly appreciated the role of the professional accountants in the economic development of the country and assured to provide full co-operation for the development of CMA profession.

Among others, Vice President Prof. Mamtaz Uddin Ahmed FCMA, Secretary Mr. Md. Abdur Rahman Khan FCMA, Treasurer Prof. Dr. Swapan Kumar Bala FCMA and Executive Director of the Institute Mr. Md. Mahbub Ul Alam FCMA were present in the meeting.

 

Following Members are elected in the 16th National Council Election-2016

 

Sl. No.

Name of Candidate

Total Vote

1

Mr. Md. Abdur Rahman Khan FCMA

667

2

Mr. Mohammed Salim FCMA

659

3

Mr. A K M Delwer Hussain FCMA

638

4

Mr. Arif Khan FCMA

622

5

Mr. Jamal Ahmed Choudhury FCMA

585

6

Kazi Muhammad Ziauddin FCMA

571

7

M. Abul Kalam Mazumdar FCMA

555

8

Mr. Md. Mamunur Rashid FCMA

544

9

Prof. Dr. Swapan Kumar Bala FCMA

542

10

Mr. Abu Bakar Siddique FCMA

536

11

Mr. Md. Munirul Islam FCMA

536

12

Prof. Mamtaz Uddin Ahmed FCMA

534

A delegation of ICMAB headed by its President Mr. Jamal Ahmed Choudhury FCMA called on Kazi M. Aminul Islam, Executive Chairman, Bangladesh Investment Development Authority (BIDA) at his office on February 23, 2017.

met chairman BIDA 1

The ICMAB President apprised the Executive Chairman, BIDA about the role of Cost and Management Accountants in enterprise management, cost control and performance evaluation of business and industrial undertakings. He informed that ICMAB has got global standard academic curriculum. The Institute is producing highly skilled professional accountants to meet the demand for accounting expertise in the country. He said that the trade and industries of the country could be benefited through implementation of Cost and Performance Audit. The Executive Chairman of BIDA emphasized on the role of the professional accountants in the economic development of the country. He assured his support for the development of the Cost and Management Accounting profession.

Among others, Secretary Mr. Md. Abdur Rahman Khan FCMA, Treasurer Prof. Dr. Swapan Kumar Bala FCMA, Council Members and Past Presidents Mr. Mohammed Salim FCMA, Mr. Arif Khan FCMA and Executive Director of the Institute Mr. Md. Mahbub Ul Alam FCMA were present in the meeting.

List of Elected Members in the Dhaka Branch Council Election of ICMAB held on 30th December 2016

Sl. No.

Candidate Name

Membership No.

Total Vote

01

Mr. Md. Mumlook Hossain FCMA

F-0761

539

02

Mr. Md. Shafiqul Alam FCMA

F-0639

494

03

Mr. A.K.M. Kamruzzaman FCMA

F-0497

470

04

Mr. Monjur Md. Shaiful Azam FCMA

F-0537

458

05

Mr. Md. Mushfiqur Rahman FCMA

F-0491

433

06

Mr. Md. Mashiur Rahman ACMA

A-1084

432

07

Mr. S.M. Afjal Uddin FCMA

F-0660

430

08

Mr. Zillur Rahman FCMA

F-0749

400

09

Mr. Md. Abdus Sattar FCMA

F-0457

398

10

Mr. Mohammad Alamgir FCMA

F-0499

388

JAC MUA mr. mohammed salim AR Khan SK Bala

Mr. Jamal Ahmed Choudhury FCMA has been elected President of the Institute of Cost and Management Accountants of Bangladesh (ICMAB) in its meeting held on 09 February 2017.

The Council also elected Prof. Mamtaz Uddin Ahmed FCMA & Mr. Mohammed Salim FCMA as Vice-Presidents, Mr. Md. Abdur Rahman Khan FCMA as Secretary and Prof. Dr. Swapan Kumar Bala FCMA as Treasurer of the Institute.

Prior to his new role, Mr. Jamal Ahmed Choudhury FCMA served as Vice-President and Secretary of ICMAB. He was also the Chairman of Dhaka Branch Council of ICMAB. He is the Executive Director, Accounts & Finance, Beximco Pharmaceuticals Ltd.- a leading Pharmaceutical industry of the country.

Professor Mamtaz Uddin Ahmed FCMA is a senior Fellow Member of the Institute, has been serving as a faculty in the Department of Accounting & Information Systems (AIS), University of Dhaka since July 14, 1986. Earlier, he was the President of the ICMAB for the year 2007 & 2012 and was the Vice President in 2005 & 2006. He worked as the Chairman of AIS department from 2012 to 2015. Currently he is serving the Chittagong Stock Exchange as an Independent Director. He was a part time member of the 8th Pay Commission 2015.

Mr. Mohammed Salim FCMA was the President of the ICMAB for the year 2014 and was the Vice President in 2011, 2012 & 2013. He was the Secretary and Treasurer of the Institute in 2005 and 2006 respectively. He was Chairman and Treasurer of Dhaka Branch Council of ICMAB for the year 2001 and 1993 respectively. He was elected four times as member of Dhaka Branch Council for the years 1992, 1993, 1994 and 2001. Mr. Mohammed Salim FCMA is currently working as Financial Management Specialist in Central Procurement Technical Unit (CPTU), IMED of the Ministry of Planning of the Government of Bangladesh. Mr. Salim obtained his Masters of Business Administration (MBA) in Finance and Diploma of Management Studies (DMS) from University of Hull (UK) in 1995 and 1997 respectively. He is also a member of National Institute of Accountants (NIA), Australia. Mr. Salim participated in many training programs and seminars on financial issues, Energy and Power Management etc. in home and abroad. Mr. Salim is a widely traveled man.

Mr. Md. Abdur Rahman Khan FCMA is currently working as Deputy Secretary in Finance Division of the Ministry of Finance of the Government of the People’s Republic of Bangladesh. Before this, he worked in income tax administration for about 22 years in home and abroad. Mr. Khan served as an International Adviser to United Nations and Consultant of World Bank during 2004-2011. Previously, he served ICMAB as Treasurer and Secretary in 2014 and 2015 respectively. Mr. Khan is the Board Member of CAPA’s Public Sector Financial Management Committee for the term 2016-2019.

Prof. Dr. Swapan Kumar Bala, FCMA has currently been working as the Commissioner of Bangladesh Securities & Exchange Commission (BSEC). Earlier he served Dhaka Stock Exchange Ltd. (DSE) as Managing Director. Under his management leadership, DSE has been demutualized in November 2013. He began his teaching career at Dhaka University as a Lecturer of Accounting in 1991 and became Professor in 2011. He is an IFRS professional from ICAEW (UK). He obtained his B.Com. with Honours (1986) and M.Com. (1987) in Accounting from the Department of Accounting & Information Systems, University of Dhaka. He obtained ‘Certificate of Achievement on BIDS Advanced Course on Economics and Quantitative Techniques’, a Master of Philosophy (M.Phil.) equivalent program from Bangladesh Institute of Development Studies (BIDS). He did his Ph.D. on Value Added Taxation from Dhaka University. Dr. Bala is the present Chairman, SAFA Committee on NPOs and Cooperative Sector. He was the Chairman, Journal Committee, ICMAB and Editor of The Cost and Management, the journal of the ICMAB (March 2012 to February 2013). He was also the Chairman of Dhaka Branch Council of ICMAB (2008).

The Cost Accounting and FinancialReporting Standards Committee has released the following BCAS as Exposure Draft:

BCAS 11: Life Cycle Costing

BCAS 12: Kaizen Costing

BCAS 13: Standard Costing

BCAS 14: Activity Based Costing

BCAS 15: Product Mix Decisions

BCAS 16: Transfer Pricing

BCAS 17: Performance Measurement

BCAS 18: Cash Flow

BCAS 19: Budget and Proforma FSs

BCAS 20: Activity Based Management

BCAS 21: Capital Budgeting

BCAS 22: Enterprise Resource Planning

BCAS 23: Strategic Cost Management

Interested members/academicians are requested to send their comments/feedback on the drafts to the following email This email address is being protected from spambots. You need JavaScript enabled to view it.

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