JS Bank wins prestigious Certificate of Merit in Banking Sector

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JS Bank won the prestigious Certificate of Merit in the Banking Sector according to a statement last week. ICAP and ICMAP jointly hosted the Best Corporate Report Award.

The Institute of Chartered Accountants of Pakistan (ICAP), established under The Chartered Accountants Ordinance, 1961, is a professional self-regulatory body, operating under the CA Bye-Laws 1983 and represents accountants employed in public practice, business and industry, and the public and private sectors.

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The Institute was formed to regulate the Chartered Accountancy profession in Pakistan. ICAP is the sole examining body for the candidates aspiring to become Chartered Accountants and its regulatory role in the country.

Read more: JS Bank attends Pakistan’s first virtually held conference on ‘solarization’ of country’s energy

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The Institute monitors and develops the profession through its rigorous quality control for members and students and standard-setting. Apart from its core functions, ICAP contributes to promoting corporate governance, formulating federal and provincial governments’ economic policies, including budget preparation with a focus on taxation.

The Institute of Cost & Management Accountants of Pakistan (ICMAP) is a professional body offering qualifications and training in management accountancy and providing ongoing support.

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The Institute of Cost & Management Accountants of Pakistan was established in 1951. It was granted statutory status under the Cost and Management Accountants Act, 1966, to regulate the profession of Cost and Management Accounting.

ICMAP is a full member of the International Federation of Accountants (IFAC), International Accounting Standards Board (IASB), Confederation of Asian and Pacific Accountants (CAPA), and South Asian Federation of Accountants.

Founded in 2000, the Best Corporate Report awards have encouraged corporations and other business entities to follow transparency laws in their finances and financial reporting using the best international practices.

The award recognizes commitment and practices to promote corporate accountability and transparency by the publication of timely, informative, fact-based, and reader-friendly annual reports.

Award represents JS Bank’s passion for transparency 

Basir Shamsie, president and CEO of JS Bank, said: “This award reflects our passion for open and investor-friendly communication. This is another step in our efforts to ensure that our stakeholders receive useful and accurate information promptly.”

The award reflects the bank’s focus on ensuring the best corporate governance, emplacing comprehensive policies and procedures and detailed disclosure of its operational environment, strategic objectives, risk management, and governance processes, he said further.

Read more: JS Bank proclaimed as ‘Pakistan’s Best SME Bank’!

Committed to its role as a catalyst towards Pakistan’s progress and prosperity, the bank hopes to continue this journey of impact by providing a variety of innovative conventional and digital solutions in the years ahead, Shamsie added.

JS Bank’s Certificate of Merit award is a recognition of the organization’s efforts towards transparency. 

GVS News Desk

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