Department of Finance & Finance Alumni Association (FAA), University of Dhaka (DU) honoured Transcom Group Chairman Latifur Rahman for winning prestigious Oslo Business for Peace Award 2012 for ethical business practices and ICC Bangladesh President Mahbubur Rahman in recognition of his outstanding contribution in the field of business.

Vice Chancellor Prof. AAMS Arefin Siddique presented crests to the two Business icons during the 39th founding anniversary celebration programme of the Finance department and FAA at Teacher Student Centre (TSC) on Friday June 29.

Mahbubur Rahman thanked to FAA for inviting him at the Finance Festival 2012 and the 39th Foundation Day Celebration of the Department of Finance and also for honouring him and Latifur Rahman.

Mahbubur Rahman observed that that despite all the obstacles we are facing, our economy has been growing at around 6% over the last few years. “No other LDC, nor many developing countries, can boast such a consistent performance. The credit for this goes to the people of Bangladesh. There are very few nations that are able to operate under such trying adverse circumstances. We have shown that we are dynamic and can overcome challenges as they appear, he said.

If we had a more conducive environment, the progress would have been much greater. All that we need are power, efficient infrastructure, credit at reasonable rates, in an enabling policy environment. We are capable of so much more, but it is our misfortune that we lack the opportunity, he observed.

“We frequently say the future of Bangladesh will be determined by the youth of today. Yes, the graduates of the Finance Department will have a vital role in the financial structure that is now emerging. Whether in the financial institutions, in development organizations, in the government, or SMEs, or in businesses they create, they will be in key positions” said Mahbubur Rahman.

Latifur Rahman expressed his gratitude to Finance Department and FAA, DU for honouring him. Addressing the event, Latifur Rahman said morality and social responsibility should be given priority in business. Money is essential in our life but it is not everything, he said.

Latifur Rahman said, in Bangladesh, we do not have the kind of citizens welfare that is prevalent in Norway and many developed countries. “I believe it becomes incumbent on employers to build, develop and nurture industrial and commercial enterprises in a manner that bears this in mind. Companies have to inculcate practices which must understand that if employees lose their jobs due to management inefficiencies or lack of corporate governance, it does not just affect the individual but can devastate the entire family. In a country where unemployment is high, getting a job is a precious privilege he said.

My being bestowed this unique and prestigious honour by the Business for Peace Foundation, in a sense, puts greater responsibility on myself and the Transcom Group to be even more conscious of its social responsibilities and ensure ethical business practices in the years to come in order to succeed and help our country find its rightful place in the global context, he added.

Finance department Chairperson Prof AA Mahboob Uddin Chowdhury presided over the programme, while Dean of Business Studies faculty Prof Jamal Uddin Ahmed, and FFA President Prof MA Baqui Khalily and FFA Vice President Prof. M. Shahjahan Mina spoke on the occasion, among others.