Chartered Institute of Management Accountants

31 October 2007

With the assistance of the World Bank, the Government of Bangladesh through the Ministry of Commerce, has commissioned CIMA, as sole expert supplier, to lead a project to strengthen the capabilities of the main accountancy body in Bangladesh, the Institute of Cost and Management Accountants of Bangladesh (ICMAB).  The contract, signed in Bangladesh between Mr Shawkat Waresi, Project Director, Ministry of Commerce, Government of the People's Republic of Bangladesh and CIMA, will provide a model for other World Bank projects with CIMA in developing countries.  The project is being funded entirely by the World Bank.

Gordon Grant, CIMA President, said: “We are honoured to be recognised for our world class expertise in developing the financial and management skills needed to operate with confidence and integrity in the global market place.   Bangladesh is a growing economy with potential to attract significant inward investment. It is therefore vital that its people are equipped with the appropriate level of financial and management skills to further grow this expanding economy.

Suraiya Zannath, Senior Financial Management Specialist, of the World Bank, South Asia Region, said: “We are delighted that CIMA, the principal world authority on management accounting, has agreed to transfer its technical knowledge and capacity building skills to help ICMAB develop as a modern management accounting professional body. We look forward to working with CIMA, ICMAB and the Ministry of Commerce as part of a comprehensive project to improve the quality of accounting and auditing practices in Bangladesh. “

She added:  “We are confident that this development model can be rolled out successfully with CIMA in other developing countries”

Under this Economic Management Technical Assistance Project (EMTAP), funded by the World Bank and supported by the Ministry of Commerce in Bangladesh, CIMA has agreed to transfer its knowledge from the UK to ICMAB using CIMA strategic, technical and operational experts who have already spent time with ICMAB in Bangladesh.  The team will return to Dhaka in November 2007 and February 2008.

ENDS

For media enquiries only, please contact:

Lottie Muir
Press & PR Manager, CIMA
+44 (0) 7736 742882
lottie.muir@cimaglobal.com

Notes to editors

1.  CIMA (the Chartered Institute of Management Accountants) is the only international accountancy body with a sole focus on business.  It is a world leading professional institute that offers an internationally recognised qualification in management accountancy, focusing on accounting in business, in both the private and public sectors. It is the voice of over 158,000 students and members in 161 countries.  CIMA is responsible for the education and training of management accountants who work in industry, commerce and not-for-profit and has more members in the public sector than any other UK based body.  CIMA prides itself on the commercial relevance of its syllabus, which is in tune with the activities of high performance organisations, and evolves continually to reflect the latest developments in global business.  According to independent research conducted by the University of Bath School of Management, CIMA’s syllabus and examination structure are the most relevant to the needs of business of all the accountancy bodies assessed.  See the CIMA Difference report for further information.  CIMA is committed to upholding the highest ethical and professional standards of members and students, and to maintaining public confidence in management accountancy.  For more information about CIMA, please visit www.cimaglobal.com

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