ICAB

8.9.1 CAPA representation from ICAB ICAB became a member of Confederation of Asian and Pacific Accountants (CAPA), which is a regional organisation representing more than 30 national professional accounting organisations (PAOs) from over 20 countries in Asia-Pacific. These PAOs, referred to as CAPA members, represent over 1 million accountants across the region. The newly constituted 12-member board, each member elected from a different country, will serve for four years during 2019-23. Nasir Uddin Ahmed was ICAB president in 2009. He is currently the deputy managing partner of MABS and J Partners. The 19th World Congress of Accountants (WCOA) was held on “2020 Vision: Learning from the past, building the future,” in Rome, Italy, on November 10–13, 2014. Muhammad Farhad Hussain Former ICAB president and Council member, was elected as a member of CAPA board of directors from 2007–2011. He also served as a member of CAPA’s governance and audit committee during his tenure. Anwaruddin Chowdhury Representative of the Institute of Chartered Accountants of Bangladesh (ICAB), was CAPA board member from 2011- 2015, and was re-elected as a director of the Confederation of Asian and Pacific Accountants (CAPA) board for a second four-year term in 2015 at the CAPA delegates’ meeting in Seoul, Korea. Nasir Uddin Ahmed Former ICAB president and Council member, was appointed member of the CAPA board, at the CAPA annual meeting in Vancouver, Canada in September 2019. Anwaruddin Chowdhury, CAPA Board Director and Bangladesh representative to CAPA during the CAPA PSFM committee meeting, during WCOA, in Rome on 8 November 2014. BEYOND BORDERS I LEGACY OF ICAB

CAPA Board Director Anwaruddin Chowdhury and ICAB Vice President Dewan Nurul Islam participate in CAPA board meeting, during WCOA, on 9 November in Italy. 8.10 CAPA conferences SAFA President Jamal Uddin Ahmad was invited to chair the 6th plenary session of the 14th conference of the Confederation of Asian and Pacific Accountants (CAPA) at the Putra World Trade Centre (PWTC), Kuala Lumpur held in October 1996. “Accountants in Cyberspace” was the theme of plenary session VI, set for 9 October. 2004: ICASL delegation visits ICAB Akhtar Sohel Kasem, ICAB President (2nd from left), with (left to right) C. R. Mazumdar, ICAB Vice President, P.Y.S. Perera ICASL Vice President, Reyaz Mihular, Chairman of SAFA Centre of Excellence for Standards and Quality, and S. Sockalingam, Consultant & Director, N. I. Chowdhury, ICAB Secretary and J. C. Biswas, ICAB Director of Studies on 24 May 2004 at ICAB office during their visit at CAPA conference held in Dhaka. 2016 Bangladesh public sector roundtable on ‘Attracting & retaining finance personnel in Bangladesh public sector’ CAPA and ICAB jointly organised a daylong roundtable on ‘Attracting and retaining finance personnel in the Bangladesh public sector’ in Sonargaon Hotel, Dhaka, on 4 February 2016. Commerce Minister Tofail Ahmed graced the occasion as the chief guest. It was chaired by Brian Blood, CAPA chief executive and moderated by Anwaruddin Chowdhury, CAPA director. ICAB President Kamrul Abedin spoke on the occasion. 1995: ICAB member attends public practice convention in Australia The International Public Practice Convention was organised by the Australian Society of Certified Practising Accountants at Royal Pines Resort, Gold Coast, Queensland, Australia 31 May-4 June, 1995. The theme of the → 202 convention was “Repositioning the Accountants”.

Md. Abdus Salam FCA (3rd from left) with officials of the Australian Society of CPA. BEYOND BORDERS I LEGACY OF ICAB

CHAPTER 9 Branding 9.1 Branding and media Formation of Branding and Media Committee Realising the importance of promoting and projecting the Institute as well as the profession, the ICAB Council formed a Media and Branding Committee in 2016. This committee would strive to project the Institute and accounting professionals its members in the appropriate context that they operate in. Indeed, it is difficult to explain how accounting belongs in the juncture of commerce, business and regulation. At the same time, it is challenging to stay relevant keeping up with the changing needs of society and businesses. Branding gives a unique identity which intrinsically portrays the essence of the organisation. Even the biggest organisations and institutes have their own brand and identity that resonates with the people. Towards that end, the branding exercise strived to create a certain image with the use of the same logo, colours and even fonts for the Institute’s communication material. As the Institute has grown, its brand image has evolved from being just a provider of accounting and audit services. It has evolved to reach new audiences and stakeholders. The challenge, however, is to connect with them in a manner that explains the purpose and objective of the ICAB fully. ICAB as a brand Although ICAB is widely known and reputed in the Bangladeshi business sector with a long history, it still needed a more contemporary image in keeping with the changing times of the 21st century. It was time the ICAB adapted and catered to the demands of the time that would see it through this century and beyond. Social media In addition to ICAB’s social platform on Facebook, ICAB has launched a LinkedIn page and YouTube channel under media and branding initiatives to provide opportunities to members, students, and stakeholders to engage and interact. Various contents are being generated regarding CA education, profession, and matters related to the Institute. These contents are then posted on the social media platform for wide dissemination. ICAB’s Facebook page has around 120,000 followers, its LinkedIn has 10,000. The ICAB YouTube channel is also seeing meaningful engagement while it continues to grow. Old logo New logo → 204

9.2 Publications ICAB publishes a monthly bulletin and a quarterly journal called ‘The Bangladesh Accountant’. ‘Bangladesh Economia’ is a half-yearly researchbased journal. These are now internationally recognised publications. The Bangladesh Accountant has been accorded its ISSN number (1993-3649) by the International ISSN Centre in France in February 2007. Bangladesh Economia was accorded ISSN (2789-0929) in 2021. The ICAB News Bulletin also has its own ISSN (1993-5366). The Accountant ICAB published the first issue of its official journal ‘The Bangladesh Accountant’ in 1977. With its publication, the Institute crossed yet another important milestone in its journey. Since its inception in 1972, the ICAB Council had felt the need for a journal of its own to serve as a vehicle of communication with its members and persons outside the profession of accountancy. But the initial problems of setting the affairs of the Institute in order were so overwhelming that it was not possible for several years to embark on this new and ambitious initiative. The journal began as a halfyearly publication that came out in June and December. After one year, it was turned into a quarterly publication. Bangladesh Economia In 2021, ICAB launched ‘Bangladesh Economia’, a research-based peerreviewed journal published half yearly. The journal was officially launched on 20 November 2021 at the Council hall of CA Bhaban. Deputy Education Minister Barrister Mohibul Hassan Chowdhury graced the ceremony as chief guest and launched the 1st issue of the half-yearly journal. The journal provides a forum for debate and discussion on national and international finance, accounting, economy, trade and business, development studies, legal issues in national, regional and global perspectives. 9. 3 Observing days of significance National Days: Mother Language Day The Language Movement of 1952 in East Pakistan protesting the imposition of Urdu as a state language was the expression of our pride in our language and identity, which upheld Bengali and demanded that it be recognised as one of the two official languages of Pakistan. It was at these protests that the police opened fire killing protesters. Ever since 21 February has become part of the Bengali identity. The day has also been recognised internationally with the UN declaring it as the International Mother Language Day, which is observed worldwide to promote awareness of linguistic and cultural diversity. First announced by UNESCO on 17 November 1999, it was formally recognised by the United Nations General Assembly with the adoption of UN resolution 56/262 in 2002. Mother Language Day is part of a broader initiative “to promote the preservation and protection of all languages used by peoples of the world” as adopted by the UN General Assembly on 16 May 2007 in UN resolution 61/266, which also established 2008 as the International Year of Languages. Every year ICAB observes International Mother Language Day. BRANDING I LEGACY OF ICAB

2013 2015 2021 2022 → 206

Independence Day The Independence Day on 26 March commemorates the country’s declaration of independence from Pakistan in the early hours of 26 March 1971. ICAB observes the day with due importance. Victory Day The Victory Day on 16 December, commemorates the victory of Bangladesh against West Pakistan in the 1971 Liberation War. ICAB celebrates the day with various programmes. International Accountancy Day The International Accountancy Education Day on 10 November is observed across the globe. In light of this, the South Asian Federation of Accountants (SAFA) decided to join in celebrating the day to highlight the importance of accountancy. The International Accountancy Education Day was observed on 10 November 2017 for the first time in Bangladesh. Consequently, a procession was brought out by leading members of the Institute which was attended by multitudes of people from different CA firms and public and private universities. 2022 2023 ICAB Observes International Accountancy Education Day 2017. SAFA President ASM Nayem, ICAB Acting President Mostafa Kamal, Chairman of Dhaka Regional Committee, Muhammad Aminul Hoque and SAFA Executive Secretary Mahbub Ahmed Siddique stewarded the rally from Hatirjheel to CA Bhaban in Karwan Bazar, Dhaka. BRANDING I LEGACY OF ICAB

The date, 10 November, happens to bear great significance for the accountancy community. Italian Mathematician and Franciscan friar, Luca Bartolomeo de Pacioli authored a book titled “Summa de Arithmetica Geometria Proportioni et Propotionalita” (Everything about Arithmetic, Geometry and Proportion) which was published in Venice on 10 November, 1494. The first of its kind, this book aimed to summarise the mathematical knowledge of that time. It is considered to be the first printed essay on double entry bookkeeping called “Method of Venice” and was a direct base of some widespread works on mercantile accounting. Bangladeshi culture and heritage: Pohela Baishakh (Bengali New Year) Pohela Boishakh — the first day of the Bengali calendar — is the biggest cultural festival where Bengalis worldwide celebrate and welcome the new year with great enthusiasm in keeping with the age-old traditions of Borsho Boron. It marks a day of cultural unity. ICAB members, students and staff celebrate the occasion (which falls on 14 April) every year with immense enthusiasm, celebrating our traditions and heritage. Various events like cultural functions and blood donation programmes are held to mark the day. 9.4 Recognition for children of ICAB members and employees At the initiative of former ICAB president, Jamal Uddin Ahmad, a special fund was created for granting scholarships and encouraging bright students. A total of BDT 10 lakhs was committed by ICAB president Akhtar Sohel Kasem, vice president C. R. Mazumder, Council members M. J. Abedin, Jamal Uddin Ahmad, Mustafizur Rahman, Sheikh Abdul Hafiz, Masih Malik Chowdhury, S. M. Atiar Rahman and ICAB members AKM Mizanur Rahman and R.I. Khan. Every year ICAB organises an award ceremony for the meritorious children of members and ICAB staff. Pahela Baishakh celebration ICAB president Akhtar Sohel Kasem, (left to right) C R Mazumder, vice president, Council members Jamal Uddin Ahmad, Jainul Abedin, Md Mustafizur Rahman and S M Atiar Rahman pose with the meritorious children of the institute’s staff members at the → 208 awards ceremony.

9.6 Humanitarian activities Fighting Covid with telemedicine Telemedicine service for ICAB members was arranged by ICAB Dhaka Regional Committee during the pandemic. The services from public/private hospitals had become tough to avail. Health experts were also discouraging patients to go to hospitals unless it was an emergency. To address this problem, a telemedicine service was launched for mild to moderate illnesses. Spouses or relatives of some of the ICAB members with specialisation in different medical fields agreed to extend their valuable support and service to general members of the Institute. Thus, DRC-ICAB coordinated the telemedicine services. The list of doctors and their contact numbers were given out to all the members for health service in an emergency. Upon an understanding, ICAB arranged a functional line for Covid testing at Japan East West Medical College Hospital in Uttara, Aichi Nagar, JBCS Sarani, Khairtek, Turag, Dhaka. ICAB made a similar arrangement with Anwer Khan Medical College and Hospital, Dhanmondi, Dhaka earlier. ICAB flood relief in Sunamganj A seven-member team of ICAB Dhaka Regional Committee (DRC) led by ICAB Chairman Md Anwaruzzaman distributed relief materials among people in the flood-affected region of Sunamganj, Sylhet on 24 June, 2022. The team distributed relief to 1,000 flood-affected families in 15 villages of Bishwambharpur and Tahirpur upazilas. 2013: ICAB Donates to the Prime Minister’s Relief Fund ICAB delegates hand over a cheque to the Prime Minister’s Relief Fund for the victims of Savar Rana Plaza collapse. Prime Minister Sheikh Hasina receives the cheque from ICAB president Md. Abdus Salam. Photo taken on 3 July 2013. ICAB distributed relief materials among people in the floodaffected region of Sunamganj, Sylhet on 24 June, 2022. BRANDING I LEGACY OF ICAB

ICAB donates Tk 5 lakh to Chief Advisor’s Flood Relief Fund 1988: Flood relief The country faced unprecedented floods during 1988 and the devastation was so extensive that almost two-thirds of the country was submerged. Members of the Institute carried out relief operations and donated BDT 1 lakh to President’s Relief Fund to alleviate sufferings of the flood-stricken people. 1998: ICAB donated BDT 3 lakh to Prime Minister’s Relief Fund ICAB President Abbas Uddin Khan, on behalf of the ICAB members handed over a cheque BDT 3 lakh to Prime Minister Sheikh Hasina as donation for flood-affected people. ICAB Vice Presidents Anwaruddin Chowdhury and Md Nurul Haque, with former presidents Md Jainul Abedin and Zahir Uddin Ahmed were present on the occasion. 1998: Dhaka Regional Committee (DRC) relief activities 9.6 Members Welfare Foundation Established in 2017, ICAB Members’ Welfare Foundation (IMWF) is a nonprofit, non-political, voluntary and non-governmental charitable and humanitarian development Foundation. IMWF believes in humanitarian activities and provides financial and nonfinancial support for development in the community. IMWF focuses on issues essential to sustainable social development by undertaking the followings: l Provide financial and other support to the members of the foundation to meet expenses for treatment for critical diseases, permanent disability or major accidents; l Extend one-off financial support to the members in case of death/retirement; l Provide financial or other support for the education of members’ children; DRC members distributing relief goods among flood victims of Meradia, (Hrishi Palli), on 25 September 1998 → 210

l Undertake and carry out any humanitarian or charitable programme for the poor and underprivileged people of Bangladesh; l Establish, run and manage educational institutions for the improvement of literacy among ICAB staff and the people of Bangladesh; l Establish, run and manage libraries/study centres for raising reading habit and distribute free books among poor students for amelioration of education quality; l Undertake programs on relief distribution among the poor in natural calamities; l Promote opportunities for families of the members for social and cultural interaction and access to resources and services at regular intervals and to enable them to maintain mutual acquaintances. l Undertake and carry out different projects/programmes for the benefit of the members of the Foundation; l Facilitate handicrafts or vocational training programmes to create opportunity for the employment of women as well as common people; l Establish educational research centre to promote archaeological and historical precedence; l Establish house of worship to promote religious education for the essence of religion. 9.7 MOU for specialised services Memorandum of Understanding (MoU) with a number of organisations to provide the services to ICAB members. These MoUs are mentioned below: l MoU with Apollo Hospital (Evercare Hospital) for corporate customer service that will be provided on a priority basis. l MoU with United Hospital for corporate customer service that will be provided on a priority basis. l MoU with Dhaka Bank Limited for payroll services. l MoU with Bashundhara Eye Hospital and Research Institute for priority service in getting doctors’ appointments. BRANDING I LEGACY OF ICAB

CHAPTER 10 Down the memory lane 10.1 Members’ Night Every year, ICAB invites its members to a gala evening called the Members’ Night, a glamorous event of the Institute. Generally, the Members’ Night is held just after the Annual General Meeting (AGM) of ICAB in the last week of December. In this annual gathering, ICAB also introduces its new office bearers, elected at the council meeting for the next year. They have an opportunity to meet with their fellow colleagues and experience the breadth and depth of work that takes place at the Institute. They can chat with friends, colleagues, their spouses and participate in unique activities and enjoy a cultural programme with their dear ones. Usually, ICAB holds the Members’ Night at a five-star hotel in Dhaka where distinguished ministers and representatives of the government are invited as chief guest and the special guests. Such gathering of ICAB members makes a tangible impact on the community and the profession. Abdul Hafiz Choudhury and ABM Azizuddin receive ICAB Lifetime Achievement Award from Planning Minister M. A. Mannan. → 212

M J Abedin receives ICAB Lifetime Achievement Award from Planning Minister M. A. Mannan Md Matiul Islam, a founding member of ICAB, receives ICAB Lifetime Achievement Award DOWN THE MEMORY LANE I LEGACY OF ICAB

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2015 2013 DOWN THE MEMORY LANE I LEGACY OF ICAB

Fellowship Night at CRC → 216

10.2 Annual Picnic Every year DRC and CRC arrange annual picnics where members have a day out with friends and family. DOWN THE MEMORY LANE I LEGACY OF ICAB

The annual DRC picnic was held at Mohammadi Garden, Mohishashi, Kalampur, Dhamrai on 14 → 218 March 2014.

The annual picnic of DRC was held on 6 January 2012. It was a day of fun for about 500 picnickers who were enthralled by the natural beauty of “Zinda Park” some 25km from Dhaka at Rupganj, Narayanganj. CRC Annual Picnic 2017 The annual CRC picnic was held on 17 February 2017 at Best Western Plus Heritage, Kolatoli, Cox’s Bazar, Chittagong. ICAB delegation meets President Iajuddin Ahmed at Bangabhaban ICAB President MA Baree presents a crest to President Iajuddin Ahmed, at Bangabhaban. Other members of the ICAB delegation also in the picture DOWN THE MEMORY LANE I LEGACY OF ICAB

A 13-member ICAB delegation headed by its president, MA Baree, called on President Iajuddin Ahmed at Bangabhaban on 28 December 2002. President Iajuddin was apprised about the relevant matters of the profession, business and economy. Other members of the delegation included ICAB Vice Presidents Dr Md Abu Sayed Khan, Md Humayun Kabir, and Md Mustafizur Rahman, former ICAB Presidents Zahir Uddin Ahmed, AK Chowdhury, AN Altaf Hussaim Siddiqui, Anwaruddin Chowdhury, Abbas Uddin Khan, council members Akhtar Sohel Kasem, AK Gulam Kibria, Nasir Uddin Ahmed and fellow member Ahmed Fakir Nesaruddin. ICAB member attends Public Practice Convention in Australia in 1995 Md. Abdus Salam (3rd from left) with officials of the Australian Society of CPA. The International Public Practice Convention was organised by the Australian Society of Certified Practicing Accountants and held at Royal Pines Resort in Gold Coast, Queensland, Australia from 31 May to 4 June, 1995. The theme of the convention was “Repositioning the Accountants”. 5th National Conference of Chartered Accountants in 1994 → 220

A view of a section of the audience at a seminar. (From right) Meeting chairman Mohammad Yunus, ICAB Vice President Howlader Mahfel Huq and ICAB President MA Quadir Mollah at a meeting on 23 June, 1991 at the CA Bhaban. ICAB President MA Quadir Mollah and Rezaur Rahman chat during a meeting of the practising members organised by the ICAB Professional Development Committee on 23 June, 1991 at the CA Bhaban. DOWN THE MEMORY LANE I LEGACY OF ICAB

Dinner reception in honour of the Planning Minister M Saifur Rahman held on 24 September 1991 at Hotel Purbani where he said that there was a compelling need for the services of the chartered accountants to help restore financial discipline in the economic sector. Must have been something quite interesting to get such serious men to break out in laughter. (From left) MJ Abedin, M Saifur Rahman, MA Quadir Mollah, Jamal Uddin Ahmad and Md. Yunus. 1980: Pictures to be Collected and inserted ICAB President Md Jainul Abedin was invited to participate in the centenary celebration of the Institute of Chartered Accountants in England and Wales (ICAEW). He attended the colourful event on behalf of ICAB and he presented an ornamented country boat as a gift to the ICAEW president. → 222

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Centenary celebration of ICAEW in 1980 participated by ICAB President Md. Jainul Abedin → 224

by M. Matiul Islam I recently lost two friends in quick succession, Jamaluddin Ahmed and Rezaur Rahman. All three of us were graduates of Chittagong Commerce College and all three of us were chartered accountants. I did my chartered accountancy from Pakistan while both of them did theirs from the UK. Rezaur Rahman returned to Dhaka from London in the late 1950s and took charge of the audit firm Price Waterhouse Peat & Co. but launched his own chartered accountancy firm in 1963 when former finance minister Saifur Rahman resigned from Pakistan Oxygen and joined Rezaur Rahman along with Tashfin Huq to form Rahman Rahman Huq. It soon became one of the most prestigious audit and consultancy firms of the country. At that time, having joined the civil service of Pakistan, I was posted as an additional secretary in the finance department under the Government of East Pakistan. In 1966, Rezaur Rahman was selected as a member of the Pakistan delegation to the United Nations General Assembly in New York where he met Peggy, fell in love and married her. His Gulshan house then became the venue for me and my wife for brunch every Sunday. Jamaluddin also returned to Dhaka in the early 1960’s, joined an international oil marketing company and got married. He was initially posted in Chittagong. I often expressed my intent to join the profession but never had the courage to take the decisive step, but very soon fate took that step. I was forced to go into retirement from the civil service by martial law authorities in 1969 and had to look for a job in the private sector. Rezaur Rahman graciously offered me the post of a partner in his firm and asked me to take over their Karachi office. A car was also purchased for my use. I did go to Karachi but was inundated with a number of good offers and thus, could not join Rahman Rahman Huq. After rejoining government services in January 1972, I was posted to the World Bank in Washington from 1974 to 1977. On the way back home, I stayed in London for some time and discovered that Rezaur Rahman was also staying there having taken a long leave from Rahman Rahman Huq. Initially, he joined Altaf Gauher in an outfit created by Aga Hasan Abedi but soon started his own business by taking Iftar Doa Mahfil 10.4 Forget not thy roots In remembrance of Jamaluddin Ahmad and Rezaur Rahman DOWN THE MEMORY LANE I LEGACY OF ICAB

up a costly office in Piccadilly. This was a bold attempt to get established in London. But he did succeed through his hard work and devotion. He also showed his business acumen back home. He bid for and acquired Messrs Shaw Wallace, a British shipping company, from the Bangladesh government. Rezaur Rahman offered me to join Rahman Rahman Huq in Dhaka for a second time when I expressed my desire not to rejoin the government. On my return to Dhaka, I did join the company but did not last there for more than two months. Although, President Ziaur Rahman agreed to my joining the firm during my first meeting with him, he soon changed his mind and gave me an ultimatum to rejoin the government as the industries secretary. Meanwhile, Jamaluddin, who held a senior position in an oil marketing company, was inducted as the industries minister. I had no clue that Jamaluddin was working behind the scenes to get me appointed as the secretary of his own ministry. During the next four years, the industries ministry became the most productive and this was because Jamaluddin gave me a free hand to operate and backed me up on all important matters like the formulation of new industrial policies, incentive packages for private sector, and the finalisation of a new act for promotion and protection of foreign investments. The board of directors of Ashuganj Fertilizer Company was reconstituted with me as chairman and Mr. Muhith, Mr. Abul Khair and Mr. Al Hussaini as directors. Jamaluddin agreed to give the board the powers of the government on all matters concerning the company. When Haldor Topsoe came to Dhaka and proposed to set up a fertiliser company in the private sector, Jamaluddin instantly approved my approach and I had no problem in taking it forward. The same story was repeated for the creation of the EPZ in Chittagong and the Aga Khan-sponsored IPDC, the first DFI in the private sector of Bangladesh. In recognition of his dynamism, Jamaluddin was promoted to deputy prime minister, over a number of his senior colleagues, in 1979. He was a terrific public orator and was politically very important for President Ziaur Rahman. In 1980, when President Zia decided to allow commercial banks in the private sector, Jamaluddin was made chairman of the selection committee. Being at the end of my contract with the government, when I decided to float a joint venture commercial bank and sought a foreign partner for that, Rezaur Rahman introduced me to the Galadari brothers who owned Dubai Bank and were willing to invest in Bangladesh. Arab Bangladesh Bank, with 60 percent foreign shareholding with UCB and National Bank, got a quick approval. As I was leaving the government to join UNIDO in Vienna, Jamaluddin advanced the date for a grand opening of Ashuganj Fertilizer Factory in recognition of my services as its chairman. Rezaur Rahman and Peggy regularly visited Vienna, where I was posted from 1982 to 1987. I was then posted to Delhi where both Rezaur Rahman and Jamaluddin were house guests. I returned to Dhaka in 1993 and in 1996 decided to set up a finance company, International Leasing and Finance Company, where both Rahman and Jamaluddin invested. Jamaluddin was also a director of ILFSL while I was its chairman. Jamaluddin floated a credit rating company, CRISL, of which I became a promoter director. When Peggy died of cancer in 1997, my wife and I visited London where she was buried. It was there that Rezaur Rahman expressed his wish to be buried next to his wife. During this period, Rezaur Rahman made a special request to help him launch a housing finance company. Shaw Wallace was his first promoter and finally, with 20 promoters, I applied to Bangladesh Bank for a licence. It took me two years to get this proposal through Bangladesh Bank and I finally got the licence in 1998. I had no shares in National Housing but gave two years of my life to redeem my pledge to my friend. Upon relinquishment of my directorship in ILFSL and retirement from the chairmanship of National Housing, communication with Rezaur Rehman and Jamaluddin became few and far between. Age took its toll on all of us. Rezaur Rahman was showing early signs of Alzheimer’s. Jamaluddin also had health problems which deteriorated with age and he breathed his last on January 3, 2015, after being bedridden for most of 2014. → 226

Rezaur Rahman did not have any children. He created the Mujibur Rahman Foundation, in the name of his late father who was a mathematical genius and was nominated in the Indian Civil Service. He donated BDT 10 crore to Dhaka University to build and develop a separate building for the Mathematics Department. Rezaur Rahman’s Alzheimer’s worsened over time and he had to be under the care of a nursing home in London, where he died on June 1, 2015. He was laid to rest next to his wife. May their souls rest in peace. n The writer is the first finance secretary of Bangladesh government. by Parveen Mahmud There are people, we can never forget. They live by their words and turn their deeds into treasures for the future generation. And that is how I remember a man with great virtues. A legendary accounting professional, Mufazzal Hussain Chowdhury always had ICAB was in his heart. And we can all be proud of him. MH Chowdhury, as he was more commonly known in the accounting circles, was the second ICAB president and the fifth to be enrolled with the Institute. He was a pioneer of our profession. The man who served as ICAB President from 1973 to 1974 passed away on August 2, 2011 in the USA. MH Chowdhury’s career spanned almost half a century. In 1954, he was the first in Chandpur district, and fourth in the erstwhile East Pakistan, to qualify as a chartered accountant. He joined as a partner of A Qasem and Co. Chartered Accountants in 1955 and left the practice in April 1958 to join the much-reputed multinational Duncan Brothers (Pakistan) Ltd as a covenanted officer. In 1965, he successfully completed the manager’s course in Ashridge Management College, Hertfordshire, UK. In the same year he was appointed as finance director of Duncan Brothers. He was elected a fellow of the British Institute of Management in 1966. In 1971 he was transferred to Duncan Brothers head office in London, and returned to Bangladesh in February 1972. In that year he was appointed chairman and managing director of the company. He resigned from Duncan Brothers in December of 1974 to join the National Oil Corporation of Libya. He left the corporation in June 1985 as its financial advisor. Upon his return to Bangladesh, MH Chowdhury set up a chartered accountancy firm called Chowdhury Hossain Zaman Co. He left the practice due to bad health in October 2001 and moved to the USA to live with his daughters. During my tenure as president in 2011, I took the initiative to put together the history of ICAB from the past presidents and elders in the profession. MH Chowdhury was one of those I had reached out to, as he was an icon in the profession and had been a part of both the institutes of Bangladesh as well as that of Pakistan since their inception. He was living in the USA, when I telephoned him and requested to send a write up. Although he was unwell and had to be hospitalised several times already, he graciously agreed to send a write up. In Remembrance of Md Mufazzal Hussain Chowdhury DOWN THE MEMORY LANE I LEGACY OF ICAB

MH Chowdhury became a member of the first council of the Institute of Chartered Accountants of Pakistan and was elected to the council for successive terms until 1971. He was elected its vice president three times as well. In recognition of his merit, the erstwhile government of Pakistan awarded him the honorific title T. Pk., which he relinquished in 1971. Upon independence of Bangladesh, MH Chowdhury was instrumental in piloting the Institute of Chartered Accountants of Bangladesh. He was elected president of the Institute upon its establishment in January 1973. He, and those like him, had paved the way for us who would follow in his footsteps in the profession and focused on advancing accountancy as a profession. He endowed two scholarships for CA students. It was only after he passed away that the Article Students Committee, decided to name the scholarships as “M. H. Chowdhury Scholarship.” I was touched by his humility, politeness and magnanimity despite his seniority and stature when he emailed me his warm wishes on Eid-ul-fitr in August 2011. He had remembered to wish from far away before I could! During Eid-ul-Azha in November later that same year, he did not forget to wish me either. MH Chowdhury e-mailed me “A Short History of Accountancy Profession in Bangladesh’’ with the following preface: “As promised earlier I enclose for your proposed publication an article on the captioned subject which I sincerely trust will meet approval. I would, however, request you to check the register of members to ascertain therefrom the correct number of members enrolled at the establishment of the ICAB and replace my figure with the actual one. For ascertaining the correct names and numbers you may check the register of firms and correct the information given in the article. Please show this article to Azizuddin of ACNABIN to check on the information I gave regarding Auditors Certificate Rules 1932, and the Pakistani laws. Please correct the information if necessary. I do not have any of the said documents.” I am forever grateful to MH Chowdhury for taking the trouble for preparing his write up, which he sent on 5 January 2012, despite his failing health. Along with that, he sent me an e-mail. The words of inspiration and feelings expressed for the profession and its people are really worth mentioning. Such words that carry his sense of belonging to the profession are only possible from those who have a depth of wisdom and knowledge gathered over many years during which they never ceased to contribute to the profession or their society. I was humbled as we all are whenever we come across greatness and realise that those who are truly great never dispense with humility. It was never an option for MH Chowdhury either. After I heard about his passing, I contacted former ICAB President Azizuddin and obtained his permission to print Mr. Chowdhury’s write-up, which is attached here. I hope, this write-up will be collated and compiled with other write-ups from other contributors, and edited and published in one cohesive narrative of the legacy and history of our profession in Bangladesh, in the near future. n The words of inspiration and feelings expressed for the profession and its people are really worth mentioning. Such words that carry his sense of belonging to the profession are only possible from those who have a depth of wisdom and knowledge gathered over many years during which they never ceased to contribute to the profession or their society. → 228

by Belal Ehsan Baaquie KZ Islam died on May 3, 2021. A titan, a legend, an iconoclast, a pioneer. These are just a few of the words that come to one’s mind when recalling the memory of Kamal Ziaul Islam, popularly known as KZ Islam. It is hard to accept that his charming personality and uplifting presence will no longer be a part of our lives. A charismatic figure, equally at ease with seniors, contemporaries and juniors, KZ Islam was the life of every gathering and his infectious optimism and ebullient personality would win him friends wherever he went. KZ Islam’s contributions to Bangladeshi cricket are well-known, and he had had many accolades and achievements, such as being the President of Bangladesh Cricket Control Board (presently Bangladesh Cricket Board), President of the Institute of Chartered Accountants of Bangladesh (ICAB), President of Gulshan Club, and so on. I will instead focus on his personal side, which is as fascinating as his public persona. KZ Islam’s story starts 86 years ago in Mymensingh, where he was born as one of eight siblings, of illustrious parents Khan Bahadur Sirajul Islam and Rahat Ara Begum. His mother was a renowned person in her own right—a writer of short stories in Urdu. At the age of 11, he was awarded a scholarship to the Royal Indian Military College in Dehradun, but due to the Partition of India, he went on to complete his schooling at Lawrence College at Murree, Pakistan (1947- 52). He completed his education with a BSc in chemistry from Calcutta University (1955) and earned a BCom (Hons) at the University of Leeds, UK, in 1960. After becoming a Chartered Accountant in 1962, he held a few positions in the UK and returned to Bangladesh in 1964. He continued his professional career as a chartered accountant in various private and public institutions, and had a large circle of friends both in Dhaka and Chattogram. He was a leading socialite for many years and an accomplished singer. On many occasions, he would entertain family and friends with a large repertoire of songs. In 1971, he moved to Dhaka from Chattogram and continued to serve in public sector corporations. In 1976, he ventured into the world of business and was one of the pioneer entrepreneurs of Bangladesh, launching his own company called Nirman International Limited. It is in the name of this company that he later founded the Nirman School Cricket Tournament in 1982. Nirman was a construction firm that built the first 32-storey skyscraper in the country for Bangladesh Bank in 1985. The company then diversified into overseas projects as well as project promotion and implementation in the power and telecom sector, property development and real estate, marble business, cold storage and so on. The Nirman School Cricket Tournament was a result of the abiding interest KZ Islam had in the sport of cricket and his perennial optimism and confidence in the abilities of the youth of the country. He was the President of Ramblers Club from 1975 till he passed away. It was a club of cricket enthusiasts who would play cricket on weekends for personal entertainment. He was always worried about the fact that there were not enough playgrounds for the youth to develop their sporting skills. KZ Islam’s abiding faith among the youth led to his consistent personal support of cricket at a time when there was no professional or any form of organised cricket in the country. He combined his love of cricket with philanthropy and decided to take it upon himself to develop and fund the sport of cricket for the youth of the country. The seeds that he sowed resulted in Bangladesh becoming a part of the international union of cricket champions. KZ Islam did not stop at cricket. He went on to contribute to the development of football too as chairman of the Development Committee of Bangladesh Football Federation (2003). KZ Islam’s philanthropy extended beyond sports. Among the many other projects he supported are Remembering Kamal Ziaul Islam: A legend in his own time DOWN THE MEMORY LANE I LEGACY OF ICAB

Shishu Polli, an NGO for marginalised women, of which he was a patron. One would have thought that being a professional chartered accountant, a pioneer entrepreneur and a philanthropist would have been enough, but not for KZ Islam whose creativity took yet another turn when he developed a serious interest in writing and scholarship. Starting with writing a column in the weekly Holiday on the great personalities of the world, which was later transformed into a book called Glimpses of the Great (2012), KZ Islam turned his attention to an event that has occupied many a great mind: the partition of India. Based on meticulous scholarship and painstaking in-person interviews of leading personalities still alive in South Asia and the UK, who wrote or were involved with the partition, he wrote a voluminous book with a tentative title The Mountbattens and the Partition of India (to be published). In the book, he showed, using multiple original and secondary sources, that Mountbatten had a clear bias towards India and against Pakistan. In fact, an earlier title of his book was Mountbatten’s India Bias. In the view of KZ Islam, if it had not been for Mountbatten serving as the viceroy of India, the partition would have been fair to both sides instead of being biased towards India. One may agree with or contest this rather momentous conclusion, but one cannot fault the scholarship that went into KZ Islam coming to this conclusion. KZ Islam was sharp-witted, humorous, lighthearted, brilliant—just what it takes to be a delightfully engaging person. His magnetic personality would win over all those who came across him, and he was the first to help anyone whom he could, without any hesitation or expectations. During the Liberation War of 1971, he helped many people under very trying circumstances. KZ Islam was a loyal member of his extended family, and being one of his nephews, I can vouch that for us he was a hero and a role model, one that we all tried to emulate. What intrigued me the most was how KZ Islam could manage to be so many different things with such felicity. He was always the bedrock of support for family members. I remember on many occasions my late father would call KZ Islam at odd hours, and he would always find a willing and helping hand in KZ Islam. KZ Islam came from a deeply religious family, with many famous Islamic scholars amongst his ancestors. He was a religious person who had a firm belief in the tenets of Islam, and he practiced all the compulsory edicts. His practice of Islam was also a model for us, his extended family members, as we saw a thoroughly modern person effortlessly combining the practice of Islam with the contemporary world. The recounting of the achievements of KZ Islam is to throw light on the many dimensions of his personality: professional, entrepreneurial, philanthropic, scholastic, piety and loyalty to family. KZ Islam combined so many diverse dimensions into a meaningful life full of attainments, achievements, joys and struggles. He was a legend in his own time, and his legacy lives on. He left behind his wife and four sons. One can only wish him well on his journey to the other side of eternity, with the conviction that all the good he has done to so many people and over so many years will stand him in good stead on his final journey. But his absence will be sorely felt, and his memories will remain with us. n Belal Ehsan Baaquie is a professor at the International Centre for Education in Islamic Finance, Malaysia. → 230

10.8 Memories to cherish DOWN THE MEMORY LANE I LEGACY OF ICAB

Received form Ms Lisa From Canada, late President Toha Sir’s daughter → 232

Signing Ceremony between S.F. Ahmed & Co. and Indian Railways for Consultancy Services of Financial Restructuring of Indian Railways Project in 2006 Mr. Md. Enamul H. Choudhury is receiving Memento in appreciation of being the first CA Firm (SFACO) from which the first female Chartered Accountant of ICAB has qualified DOWN THE MEMORY LANE I LEGACY OF ICAB

Received form SF Sir and Mustaque Sir → 234

AAMS Accredited Asset Management Specialist AB Bank Arab Bangladesh Bank ABA Association of Bangladeshi Accountants in the UK ACA Associate Chartered Accountant ACCA Association of Certified Chartered Accountants ACMA Associate Chartered Management Accountant/Associate Cost & Management Accountant ACRAB Association of Credit Rating Agencies of Bangladesh ADB Asian Development Bank AGM Annual General Meeting AIS Accounting & Information Systems AmCham American Chamber of Commerce in Bangladesh AOD Assembly of Delegates AOTCA Asia-Oceania Tax Consultants’ APM Audit Practice Manual ASPAC Asia Pacific Chapter ATC Accountancy Tuition Centre B.Com Bachelor of Commerce BADC Bangladesh Agricultural Development Corporation BAS Bangladesh Accounting Standards BATB British American Tobacco Bangladesh BB Bangladesh Bank BCACP Bangladesh Chartered Accountancy Chhatra Parishad BCIC Bangladesh Chemical Industries Corporation BCS Bangladesh Computer Samity BD Bangladesh BFDC Bangladesh Fisheries Development Corporation BICC Bangabandhu International Conference Center BICM Bangladesh Institute of Capital Market BIDA Bangladesh Investment Development Authority BIDC Bangladesh Industrial Development Corporation BJEC Bangladesh Jute Export Corporation BLAST Bangladesh Legal Aid and Services Trust BPA Best Published Accounts and Reports BPO Business Process Outsourcing BRAC Bangladesh Rural Advancement Committee BRTC Bangladesh Road Transport Corporation BSCIC Bangladesh Small and Cottage Industries Corporation BSEC Bangladesh Securities and Exchange Commission BSFIC Bangladesh Industrial Development Corporation BSRM Bangladesh Steel Re-Rolling Mills Limited BTCL Bangladesh Telecommunications Company Limited BTMC Bangladesh Textile Mills Corporation CA Chartered Accountant CA ANZ Chartered Accountants Australia and New Zealand CAG Comptroller and Auditor General Abbreviation → 248

CAI Chartered Accountants Ireland CAP Certified Accounting Professional CAPA Confederation of Asian and Pacific Accountants CAW Chartered Accountants Worldwide CCCI Chittagong Chamber of Commerce and Industry CCSEB Career Counselling and Skills Enrichment Board CDA Chittagong Development Authority CEO Chief Executive Officer CFO Chief Financial Officer CHT Chittagong Hill Tracts CIA Controlled Industrial Area CIDA Canadian International Development Agency CIMA Chartered Institute of Management Accountants CIP Commercially important person CIPFA Chartered Institute of Public Finance and Accountancy CL Certificate Level CMA Certified Management Accountant COO Chief Operating Officer CPA Certified Practising Accountant CPD Centre for Policy Dialogue CPD Continuing Professional Development CPDW Committee for Professional Development for Women CRC Chittagong Regional Committee CRISL Credit Rating Information and Services Limited CSE Chittagong Stock Exchange CSR Corporate Social Responsibility CTBA Chittagong Taxes Bar Association DCCI Dhaka Chamber of Commerce & Industry DFI Development Financial Institution DG Director General DIAR Digital Identification of Audit Reports DIT Dhaka Improvement Trust DRC Dhaka Regional Committee DSE Dhaka Stock Exchange DU University of Dhaka DVC Document Verification Code DVS Document Verification System E & T Education and Training EDP Executive Development Program ENA Eastern News Agency EPIDC East Pakistan Industrial Development Corporation EPZ Export Processing Zone ERP Enterprise Resource Planning ESG Environmental, Social, and Governance F&A Finance & Administration FBCCI Federation of Bangladesh Chambers of Commerce and Industry FCA Fellow Chartered Accountant FCA Financial Conduct Authority FCMA Fellow of the Chartered Institute of Management Accountants FCPA Foreign Corrupt Practices Act ABBREVIATION I LEGACY OF ICAB

FICCI Foreign Investors’ Chamber of Commerce & Industry FRA 2015 Financial Reporting Act 2015 FRC Financial Reporting Council GDA Government Diploma in Accountancy GDP Gross Domestic Products GIFI General Index of Financial Information GoB Government of Bangladesh GoEP Government of East Pakistan GoP Government of Pakistan GRI Global Reporting Initiative HBFC House Building Finance Corporation HR Human Resources HSC Higher Secondary School Certificate IAASB International Auditing and Assurance Standards Board IAG International Auditing Guideline IAI Independent Accountants International IAS International Accounting Standards IASB International Accounting Standards Board IASC International Accounting Standards Committee IBA Institute of Business Administration ICAB Institute of Chartered Accountants of Bangladesh ICAEW Institute of Chartered Accountants in England and Wales ICAI Institute of Chartered Accountants of India ICAM Institute of Chartered Accountants in Malawi ICAN Institute of Chartered Accountants of Nigeria ICAP Institute of Chartered Accountants of Pakistan ICAS Institute of Chartered Accountants of Scotland ICASL Institute of Chartered Accountants of Sri Lanka ICC International Chamber of Commerce ICMA International Capital Market Association ICMAB Institute of Cost and Management Accountants of Bangladesh ICPE ICAB Centre for Professional Excellence ICT Information and Communication Technology ICWAI Institute of Cost & Works Accountants of India ID Identity Document IDB Islamic Development Bank IDRA Insurance Development and Regulatory Authority of Bangladesh IES International Education Standard IFAC International Federation of Accountants IFAD International Fund for Agricultural Development IFCAC Immigration Forms Completion Assistance Center IFRS International Financial Reporting Standards IIDFC Industrial and Infrastructure Development Finance Company Limited IIRC International Integrated Reporting Council ILFSL International Leasing and Financial Services Limited IMF International Monetary Fund IMWF ICAB Members’ Welfare Foundation → 250

IPDC Industrial Promotion and Development Company of Bangladesh Limited IPP International Pathway Program IPSAS International Public Sector Accounting Standards IRMD Investment/Integrated Risk Management Division ISA International Standards on Auditing ISAA The Society of Incorporated Accountants and Auditors ISAR International Standards of Accounting and Reporting ISCA Institute of Singapore Chartered Accountants ISLQ International Star for Leadership in Quality ISSN International Standard Serial Number IT Information Technology ITP Income Tax Practitioner IVSC International Valuation Standards Council KAFCO Karnaphuli Fertilizer Company Limited KPMG Klynveld Peat Marwick Goerdeler L/C Letter of Credit LED Light Emitting Diodes LGD Local Government Division LGSP Local Governance Support Project LLB Bachelor of Laws LLC Limited Liability Company M.Com Master of Commerce M.Sc. Master of Science MBM Masters in Bank Management MCCI Metropolitan Chamber of Commerce and Industry MD Managing Director MDMCC Membership Development and Mutual Collaboration Committee MFI Microfinance Institutions MIDAS Migration Information and Data Analysis System MOLGRD & C Ministry of Local Government, Rural Development & Cooperatives MoU Memorandum of Understanding MP Member of Parliament MPA Member Pathway Agreement MRA Microcredit Regulatory Authority NAC North American Chapter NAPD National Academy for Planning and Development NBFIs Non-Banking Financial Institutions NBR National Board of Revenue NGO Nongovernmental organization NGOAB NGO Affairs Bureau NWPC National Wages and Productivity Commission OCAG Office of the Comptroller and Auditor General PAIB Committee on Professional Accountants in Business PAO Professional Accounting Organisation PAS Pre-Articled Students PC Practicing Certificate Ph.D. Doctor of Philosophy ABBREVIATION I LEGACY OF ICAB

PIDC Pakistan Industrial Development Corporation PM Prime Minister PMB Padma Multipurpose Bridge PO Post Office PR Public Relations PSFM Public Sector Financial Management PSFMC Public Sector Financial Management Committee PWTC Putra World Trade Centre QAB Quality Assurance Board QAD Quality Assurance Department RAJUK Rajdhani Unnayan Kartripakkha RAT Registered Accounting Technician RCOMCC Regional Committees and Overseas Management Chapter Committee RCPAR Committee for Published Accounts & Reports RCPAR Review Committee for Published Accounts & Reports REBFC Research on Economy, Business and Finance Committee REC Real Estate Committee RIPA Royal Institute of Public Administration RJSC Registrar of Joint Stock Companies and Firms ROSC Report on the Observance of Standards and Codes RSS Regional Standard Setters RTBCC Regulators and Trade Bodies Coordination Committee SAARC South Asian Association for Regional Cooperation SAFA South Asian Federation of Accountants SAICA South African Institute of Chartered Accountants SBAC South Bangla Agriculture & Commerce SDGs Sustainable Development Goals SEC Securities and Exchange Commission SIBL Social Islami bank Limited SMC Small and Medium Sized Companies SME Small and Medium-Sized Enterprises SMO Statutory Members Obligation SMP Small and Medium Practitioners SSC Secondary School Certificate STARM Second Tier Accountants Recognition & Management TV Television UAE United Arab Emirates UCB United Commercial Bank UCEP Underprivileged Children’s Educational Programmes UK United Kingdom UN United Nations UNCTAD United Nations Conference on Trade and Development UNDP United Nations Development Programme UNESCO United Nations Educational, Scientific and Cultural Organization UNIDO United Nations Industrial Development Organization US United States USA United States of America USAID United States Agency for International Development → 252

USD United States Dollar UTS University of Technology Sydney VAT Value Added Tax VP Vice President WAPDA Water And Power Development Authority WASA Water and Sewerage Authority WB World Bank WCOA World Congress of Accountants WIL Women in Leadership WMELDC Women Members Empowerment and Leadership Development Committee WTO World Trade Organization ZICA Zambia Institute of Chartered Accountants 50 Years of ICAB Legacy Partner in Progress The Institute of Chartered Accountants of Bangladesh (ICAB) Sources/References: # Institute of Chartered Accountants of Bangladesh, A Historical Profile, by M J Abedin FCA, past president of ICAB, written in 2003 marking the 30th anniversary ICAB # Contribution for establishment of the Institute, by Md. Mufazzal Hussain Chowdhury FCA, past president of ICAB. # A K Chowdhury FCA, past president of ICAB # ABM Azizuddin FCA, past president of ICAB # Cracking the glass ceiling: exploring gender equity in the chartered accountancy profession in Bangladesh, a research by Dr Javed Siddiqui # Short life sketches of Ata Uddin Khan, biographers: Md. Sherajuddin and Nurur Rahman Khan # S. F. Ahmed & Co. Chartered Accountants # Rahman Rahman Huq Chartertered Accountants # Farah Ghuznavi, writer # Photographs: families of senior members of the Institute # Publications and websites: IFAC, CAPA, SAFA, ICAP, ICAEW, ICMAB, ICAB ABBREVIATION I LEGACY OF ICAB