ICSB holds webinar on proposed Distressed Asset Management Act 2026

The Institute of Chartered Secretaries of Bangladesh (ICSB) organized a webinar on "The Proposed Distressed Asset Management Act, 2026".

The program held yesterday aimed to familiarize members with the upcoming provisions of the Distressed Asset Management and discuss its implications for compliance, said a press release today.

Mohammed Showket Iqbal, Chairman, Seminar & Conference Sub Committee of ICSB, chaired the session. President of ICSB Mohammad Shahajahan was also present in the programme. 

Muzaffar Ahmed, former President of ICSB and Executive President of Credit Rating Information & Services Ltd presented the keynote paper.

ICSB President Mohammad Shahajahan in his welcome address underscored the importance of Professional Development in today's rapidly evolving regulatory landscape. 

He emphasized the need for professionals to remain abreast of the latest legislative to ensure effective compliance and informed decision-making.

Discussant A.T.M. Tahmiduzzaman, former AMD, United Commercial Bank PLC outlined key features of DAMA 2026, emphasizing the crucial role that chartered secretaries will play upon its implementation.

Md. Humayun Kabir, DMD & Company Secretary, Bengal Commercial Bank PLC identified several ambiguities within the proposed Act and recommended that ICSB should submit formal revision proposals to the relevant authorities.

Mohammed Showket Iqbal, in his sum-up session, discussed that the webinar has given a clear picture of the current situation of our banking sector and why DAMA 2026, has become an important topic. 

The event concluded with a vote of thanks delivered by Md. Shahid Uddin, Member Secretary of Seminar & Conference Sub Committee (SCSC).