Eighth from left, Transcom Group Chairman Latifur Rahman poses with FBCCI President AK Azad, ICCB President Mahbubur Rahman, and other business leaders at a reception at Radisson Hotel in Dhaka last night. The countrys 17 chambers and associations accorded the reception to Latifur Rahman after he won the Oslo Business for Peace Award

Leading chambers and associations yesterday accorded a reception to Transcom Group Chairman Latifur Rahman after he became the first Bangladeshi to win the prestigious Oslo Business for Peace Award for ethical business practices.

Leaders of the countrys top 17 chambers and associations gathered at Radisson Hotel in Dhaka to honour Rahman.

The award is the highest distinction given to a businessperson for outstanding accomplishments in ethical business.

An independent committee of Nobel Prize winners in peace and economics selects the recipients. They adhere to criteria for ethical business, stipulated by Oslo-based Business for Peace Foundation.

The recognition has included Rahman in the group of exceptional businesspersons such as Ratan Tata, chairman of Tata Group in India, who got the award in 2010, and Jeffrey R Immelt, chief executive of General Electric in the US, who won it in 2009 when the awards were introduced.

In a recorded interview, Nobel laureate Prof Muhammad Yunus said the winning of Business for Peace Award by Rahman is a matter of great pride for Bangladesh.

“Bangladesh appeared high on the Transparency Internationals list of corrupt countries. Latifur Rahman has won the award under these circumstances through competition,” he said.

“It gives us comfort and a ray of hope. His achievement will remain as an example for the countrys businesspeople.”

International Chamber of Commerce-Bangladesh (ICCB), Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka, Chittagong Chamber of Commerce and Industry (CCCI), Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Bangladesh Textile Mills Association (BTMA), Bangladesh Association of Publicly Listed Companies (BAPLC), American Chamber of Commerce in Bangladesh (AmCham), Japan-Bangladesh Chamber of Commerce and Industry (JBCCI), the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Dhaka Chamber of Commerce and Industry (DCCI), Foreign Investors Chamber of Commerce and Industry (FICCI), Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), Bangladesh Association of Banks (BAB), Bangladesh Insurance Association (BIA), Canada Bangladesh Chamber of Commerce and Industry (CanCham), Bangladesh-Thai Chamber of Commerce and Industry (BTCCI), and Bangladesh Aushad Shilpa Samity (BASS) organised the reception.

ICCB President Mahbubur Rahman said the aim of the Business for Peace Foundation is to increase awareness of a businessperson as an individual about the strength of the ethical business case.

The Foundation also inspires businesspeople as individuals to help foster peace and stability through their work, he said.

“This award is not only for Latifur Rahman only, but also for the whole community of the country.”

The ICCB chief said Transcom, considered to be one of the largest conglomerates of Bangladesh, has adhered to ethical and responsible business practices. The Group is one of the highest contributors to the state coffers in terms of corporate tax, VAT and import duty, with a clean bank record.

Transcom, which began its journey with tea plantation business in 1885, now comprises 16 private and public companies, having a total annual turnover of more than Tk 2,750 crore and employing around 10,000 people.

FBCCI President AK Azad said: “Following the achievement, Latifur Rahman is not only the chairman of Transcom Group, but also the leader of the entire business community.”

Azad urged the government to pass a motion in parliament, congratulating Rahman.

The Transcom chief said he was overwhelmed by accolades from his peers.

Latifur Rahman said there is potential for Bangladesh to achieve one or two percentage points more growth in gross domestic product if the country can ensure stability in some sectors like infrastructure.

“It is in our hands,” he said. “The abilities are there.”
Rahman, who is currently the vice-president of ICCB, said nurturing ethics and standards in business also makes a good business sense. “If you want to succeed in businesses, you will have to build your businesses on some certain foundations.”

He said Bangladeshi businesses will have to maintain the same standards of businesses a global business maintains, no matter whether they operate — in Bangladesh, Singapore, the United States or Norway.

“We have to adhere to the global standards,” Rahman of Transcom said.

Chairman of Centre for Policy Dialogue Prof Rehman Sobhan, eminent jurist Dr Kamal Hossain, former finance minister M Syeduzzaman, former caretaker government advisers Manzur Elahi and Geeteara Safiya Choudhury, Editor and Publisher of The Daily Star Mahfuz Anam, Distinguished Fellow of CPD Debapriya Bhattacharya, ACI Chairman Anis Ud Dowla, and Canadian High Commissioner Hither Graham also graced the occasion.

DCCI President Asif Ibrahim, FICCI Syed Ershad Ahmed, BGMEA President Md Shafiul Islam Mohiuddin, BKMEA President AKM Salim Osman, BASS President Salman F Rahman, BAPLC Chairman Tapan Chowdhury, AmCham President Aftab ul Islam and CanCham President Masudur Rahman were also present.