Padma Bank and ICAB sign MoU on Documents Verification System

Padma Bank and The Institute of Chartered Accountants of Bangladesh (ICAB) signed a memorandum of understanding (MoU) on Documents Verification System (DVS).

Under this MoU, the bank will get the opportunity to verify the updated audit report and audited financial statements submitted by the loan applicant. Besides, there is also an opportunity to verify the authenticity of audited financial reports of various organizations through DVS.

This memorandum of understanding was signed on January 1, 2023, at the ICAB Council Hall, CA Bhaban Dhaka. The bank’s Managing Director and CEO, Tarek Reaz Khan and ICAB’s Chief Executive Officer, Shubhashish Bose, signed the MoU on behalf of their respective organization. During the signing event, Tarek Reaz Khan congratulated the newly appointed President of ICAB, Md. Moniruzzaman FCA, with flowers.

Wishing everyone a happy new year, Tarek Reaz Khan said in his speech that people who default on loans or evade taxes not only put the organization in danger but also lead the entire nation towards destruction. Therefore, by using the DVS system, it is possible to keep society, the country, and the nation from crisis by working with transparency.

He also added that if we can establish good corporate governance by using modern technology, then, Inshallah, it is possible to avoid unwanted chaos in the financial sector. He thanked the ICAB officials for bringing DVS technology.

The agreement signing ceremony was also attended by Padma Bank SEVP, CHRO, and CCO

M Ahsan Ullah Khan, SEVP and CFO Badal Kumar Nath FCA, The Institute of Chartered Accountants of Bangladesh (ICAB) Vice President Md. Yasin Miah FCA, MBM Lutful Hadee FCA, Md. Johirul Islam FCA, Council Member Mohammed Forkan Uddin FCA, COO Mahbub Ahmed Siddique FCA, Head of IT Mohammad Deloar Hossain, IT Department, ICAB all Divisional Head and other senior officials of the two organization.

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