PwC launches Bangladesh subsidiary

PricewaterhouseCoopers or PwC that offers services in auditing, accounting and consultancy, has launched its subsidiary in Bangladesh to expand the parent company's footprint.

PwC Bangladesh is currently operating from its office at Karwan Bazar in Dhaka, serving 300 clients.

PwC has taken up an office space of around 8,000 square feet in Laila Tower in Gulshan-2 and is expected to move there in four months.
“The initiative will give PwC an opportunity to partner Bangladesh in its growth journey,” the firm said in a statement
yesterday.

The company has appointed Mamun Rashid, a former banker with work experiences in ANZ Grindlays, Citibank NA and Standard Chartered, as partner in-charge.

US-based PwC has been operating in Bangladesh for many years and setting up of the subsidiary is in line with the rising importance of Bangladesh in the global business scenario, the company said.

“We believe that Bangladesh is on a growth trajectory,” said Deepak Kapoor, chairman PwC India and PwC Bangladesh.

“With Rashid's extensive experience, we are confident that PwC would be able to build a high performing team of professionals who will meet expectations of all our clients by offering them the right solution for their business challenges,” Kapoor said on Rashid's appointment.

PwC's foray is testimony to the long-term commitment it has towards Bangladesh, Rashid said. “Our endeavour would be to work with our clients, bringing in global best practices while developing localised solutions.”

PwC is one of the big four accountancy firms in the world with offices in 157 countries and mainly provides audit, taxation and advisory services. It earned $35.4 billion in revenues in the year ending June 2015.