Shahjalal Islami Bank Secures Bronze Award from SAFA

Shahjalal Islami Bank PLC has earned the Bronze Award in the Private Sector Banks Category from the South Asian Federation of Accountants (SAFA) for its best-presented annual report for 2024. The recognition highlights the bank’s adherence to high reporting standards, transparency and compliance with established international frameworks in financial disclosure.

At a ceremony held on 27 November 2025 at the Marriott Hotel in Islamabad, Pakistan, the bank’s Chief Financial Officer, Md Jafar Sadeq, FCA, received the award from SAFA President Ashfaq Yousuf Tola. According to an official press release issued by the bank, this achievement reflects the institution’s commitment to maintaining accountability, good governance and accuracy across its financial reporting structure.

The event was further distinguished by the presence of Pakistan’s Deputy Prime Minister, Mohammad Ishaq Dar, and the President of the International Federation of Accountants (IFAC), Jean Bouquot. Their attendance added further significance and credibility to the annual awards presentation, which is considered one of the most respected recognitions for financial reporting standards in the South Asian region.

By receiving this award, Shahjalal Islami Bank has strengthened its position within the international financial community. SAFA has long been playing a central role in encouraging quality reporting, transparency and accountability among financial institutions. In this context, the bank’s recognition represents a notable achievement for Bangladesh’s banking sector.

Each year, SAFA evaluates numerous institutions from across the region on the basis of specific criteria such as the quality of published financial statements, analytical presentation, corporate governance, environmental and social responsibility disclosures, and alignment with international reporting standards. According to the press release, Shahjalal Islami Bank met all these core criteria, resulting in its selection for the Bronze Award this year.

A summary of key information extracted from the report is presented below:

Overall, this recognition reflects Shahjalal Islami Bank’s growing reputation in the region’s financial sector and reaffirms its commitment to upholding international standards in financial reporting, governance and institutional transparency.

KhaborwalaAJ