| Executive Summary The Code of Corporate Governance prescribes the principles, procedures and process through which better corporate governance practices may gradually be introduced. As such, the Code is organized into Principles and Guidelines. Organizations can start on the path to better corporate governance first by acknowledging the Principles of Corporate Governance and then by incorporating them through initial implementation strategies, which they must justify and explain. The next step would be to comply fully with the Guidelines for implementation, as set out in the Code, which represent an appropriate synthesis of international and indigenous best practices that are wholly applicable to the Bangladeshi context. The function of a Code of Corporate Governance for Bangladesh is to improve the general quality of corporate governance practices. The Code does this by defining best practices of corporate governance and specific steps that organizations can take to improve corporate governance. The Code begins to raise the quality and level of corporate governance to be expected from organizations. In some areas the code specifies more stringent practices than is required by Bangladeshi law, but these requirements are in keeping with international best practices. |