Bangladesh Bank Governor Atiur Rahman has urged the banks and non-bank financial institutions to frame their own CSR (corporate social responsibility) policy to deeply engage in socially responsible business.
A bank or NBFI will have to frame their own respective CSR policies and its board of directors will have to approve and review it periodically. Banks and NBFIs will have to publish an annual publication on CSR, illustrating their respective CSR activities on a regular basis, he said.
He made the call addressing the 5thh Standard Chartered-Financial Express CSR Award ceremony held at a city hotel yesterday evening. BSRM emerged as the first prize winner, followed by GP second and Uniliver Bangladesh third.
“CSR activities of our banks and financial institutions have expanded several fold over the past few years for socioeconomic empowerment of the less well off population segments,” said the governor.
As per the new guideline, the banks and NBFIs will have to spend at least 2.5% of their respective net profits on CSR in three key fields – concessional loans, donation funds and allocations for developing internal job environment and gender equality.
