Strategic Review of Corporate Governance : A New Paradigm for Decision Making in Bangladesh

Corporate governance is concerned with set of principles, ethics, values, morals, rules regulations, & procedures etc. Corporate governance establishes a system whereby directors are entrusted with duties and responsibilities in relation to the direction of the company's affairs. In Bangladesh, corporate Sector is at cross roads as far as legal structure and internal management. It is faced with numerous issues demonstrating the ineffective implementation of laws and code of business ethics. Successful corporate Governance depends to a great extent of trade- off among the various conflicting interest groups like, Government, Society, Investors, Creditors, and Employees of the organization. The basic governance issues related to the effectiveness and accountability of board of directors. This paper lights on the question of transparency and accountability of corporate governance. It identifies the major challenges in this process. The information reveals that the Bangladesh in corporate governance suffers from transparency, independence in decision making. The paper concludes with some strategies, which are considered essential for the exercise of good governance in Bangladesh