Bangladesh Finance has received recognition from the Bangladesh Bank governor as a sustainable financial institution.
Managing Director and CEO of Bangladesh Finance Md Kyser Hamid received recognition from Governor of Bangladesh Bank Fazle Kabir, reads a press release.
The award was presented by the governor of Bangladesh Bank to the Sustainability Rated Banks and Financial Institutions held at the Jahangir Alam Conference Center of the Central Bank on Thursday.
In this list, the top ten banks in the private sector have been given the status of sustainable banks. The top five financial institutions have also received sustainable status.
Bangladesh Bank says the Sustainable Core Banking Index takes into account the credit quality of the institution, the capital situation, and the agent banking activities.
Besides, green financing of banks and financial institutions, number of borrowers, rural financing, number of female borrowers, sustainable financing in agriculture, category and amount of green financing, financing of small and micro-entrepreneurs, defaulted loans in sustainable financing etc have been taken into consideration.
Apart from this, the practice of internal green banking of banks and financial institutions has also been used as one of the determinants of this standard.
Bangladesh Bank has verified this standard based on four indicators: Sustainable Finance Indicator, Green Refinance, Social Responsibility Program (CSR) and Core Banking Sustainability of core banking activities.
In an official response after being recognized as a sustainable financial institution, the Managing Director of Bangladesh Finance Md Kyser Hamid said: “Bangladesh Finance is one of the pioneers of sustainable finance. Bangladesh Finance is committed to achieving the government's sustainable development goals through green finance, social responsibility and inclusion of marginalized people in the country - especially women entrepreneurs in economic advancement."
Senior officials of the Bangladesh Bank were also present on the occasion.