Experts at a workshop hosted by the Dhaka Chamber of Commerce & Industry (DCCI) have called for the modernization of the Companies Act 1994 to keep pace with the evolving corporate landscape and ensure stronger compliance and governance in the business sector.
The workshop, titled “Importance of Board Meeting, AGM, EGM and Compliance of Limited Companies”, was held at the DCCI auditorium on August 2. AKM Nurunnabi Kabir, Registrar (Additional Secretary) of the Office of the Registrar of Joint Stock Companies and Firms (RJSC), attended the event as the chief guest.
In his opening remarks, DCCI President Taskeen Ahmed emphasized the growing significance of institutional transparency, accountability, and good governance amid Bangladesh’s industrial and economic development. He noted that many entrepreneurs and professionals often struggle with the complex legal and compliance requirements due to a lack of proper understanding.
“The workshop offered comprehensive insights into the importance of board meetings, AGMs, EGMs, proper procedures, and strategies for ensuring compliance under the Companies Act,” said Ahmed, adding that fostering better relations with regulatory bodies is also crucial.
Highlighting the current scope of RJSC’s services, AKM Nurunnabi Kabir informed that nearly 275,000 companies are now registered with the RJSC, and all processes—except for share transfer—have been digitized. He assured that plans are underway to bring share transfer services online as well, following proper cybersecurity assessments.
Kabir urged business owners to remain fully compliant with relevant laws and train their teams on the Companies Act, Articles of Association, and Securities Laws to avoid unforeseen issues.
Two keynote papers were presented during the session by Mohammed Sanaullah, CEO & Lead Consultant of Sanaullah & Associates, and Md. Selim Reza, FCA and Partner at Artisan, Chartered Accountants. Both experts underscored that legal compliance is mandatory for all businesses—whether public limited, private limited, or proprietorship.
“In today’s globalized economy, maintaining regulatory compliance is no longer optional,” they said. “Adhering to legal standards is essential to prevent malpractice, ensure transparency, and remain competitive internationally.” They also stressed that the Companies Act is outdated and in urgent need of reform to meet current business realities.
DCCI Senior Vice President Razeev H. Chowdhury and Vice President Md. Salem Sulaiman were also present at the workshop.