Shahjalal Islami Bank PLC has secured the Bronze Award in the Private Sector Banks Category from the South Asian Federation of Accountants SAFA for presenting one of the best annual reports of 2024. SAFA, a regional organisation comprising accounting professionals from several South Asian nations, evaluates and honours institutions every year whose annual reports demonstrate the highest level of compliance, transparency and professional standards.
The Chief Financial Officer of Shahjalal Islami Bank PLC, Md. Jafar Sadeq, FCA, received the award from the President of SAFA, Ashfaq Yousuf Tola, at a ceremony held on 27 November 2025 at the Marriott Hotel in Islamabad, Pakistan. According to the bank, this recognition is a reflection of their long-standing commitment to high-quality reporting, enhanced corporate governance and adherence to international accounting standards.
The ceremony was attended by the Deputy Prime Minister of Pakistan, Mohammad Ishaq Dar, and the President of the International Federation of Accountants IFAC, Jean Bouquot. During the gathering, the distinguished guests highlighted the importance of financial transparency, accountability and the global standards that drive responsible financial reporting across the region.
Shahjalal Islami Bank stated that the award will further inspire the institution to maintain and enhance the quality of its future annual reports. The bank believes that such international recognition strengthens its commitment to transparency, financial discipline and responsibility. They further noted that the award signifies not only an institutional achievement but also Bangladesh’s growing strength in global financial reporting and corporate governance.
The event brought together renowned accountants, financial experts and representatives from South Asian banking industries. Discussions at the event centred on the challenges within the financial sector, international reporting standards, the rise of technology-driven accounting systems and the evolving nature of financial management. SAFA President Ashfaq Yousuf Tola reiterated that the awards play a vital role in encouraging institutions to improve their performance and uphold accountability across all levels.
A summary of key information extracted from the report is presented below:
| Category | Details |
|---|---|
| Award | SAFA Bronze Award (Private Sector Banks Category) |
| Reporting Year | 2024 |
| Recipient | Md Jafar Sadeq, FCA |
| Awarding Organisation | South Asian Federation of Accountants (SAFA) |
| Venue | Marriott Hotel, Islamabad, Pakistan |
| Date | 27 November 2025 |
| Distinguished Guests | Mohammad Ishaq Dar, Jean Bouquot |
Officials of Shahjalal Islami Bank also emphasised that the bank consistently follows advanced practices for corporate reporting and fully embraces international standards. In an era of fast-paced digital transformation, the bank is focusing on modern back-end systems, advanced accounting tools and precise data management. They believe that these initiatives will help strengthen their reporting framework even further in the years ahead.
AJ