BRAC received the prestigious CGAP Financial Transparency Award 2005, once again proving to be a shining exception in a pool of 175 applicants from 57 countries. CGAP, the Consultative Group to Assist the Poor, comprising 31 public and private development agencies working together to expand access to financial services for the poor in developing countries, was founded by aid agencies and industry leaders to help create permanent financial services for the poor on a large scale. The financial statements of each applicant were and scored by reviewers across Latin America, Africa, the Middle East, Europe and North America. BRAC owes this award to the willingness of the policymakers to achieve financial transparency, steps undertaken to ensure a supportive organization, namely: Cultivation of Culture of Honesty, Written Procedures and Guidelines for Transparency, Accounting Manuals, A Strong Internal Control System, Regular Review and Incorporation of modern technology. The Top Award Winners had to obtain the "5-diamond" rating that recognizes the full compliance with international disclosure guidelines.