Appreciating the CSR activities of banks, Bangladesh Bank governor Dr Atiur Rahamn on Saturday said banks and financial sector institutions in the country are maintaining generally benign and safe working environment.“Over the past few years, direct and indirect expenditure of banks on CSR (corporate social responsibility) initiatives have increased manifold… all banks, state owned and private, local and foreign ones have been enthusiastic in their CSR engagements,” he said.
Atiur said the latest available data shows that direct CSR expenditure of all banks increased by 5.5 times to Tk. 3046.7 million in 2012 from Tk. 553.8 in 2009.
The central bank chief was addressing the official launching of International Standard Social Responsibility Book produced by High
Commission of Canada and distributed by Canada Bangladesh Chamber of Commerce and Industry (CanCham) held at Canadian Club in the city.
Canadian High Commissioner in Dhaka Heather Cruden and President of KM Khaled were also present.
Atiur said CSR engagements have helped financial sector keep itself in good shape during the global financial crisis and in the subsequent still ongoing global slowdown.
Besides keeping financial sector free from non-productive toxic assets, the inclusive, output supportive orientation of financing has helped it support both output growth and uphold domestic demand in the economy, hastening decline in poverty and deprivation, he said.
“Because of improving good corporate governance, on the other hand, the banking sector in Bangladesh is healthier than any time before in terms of capital, asset quality and capacity to manage internal as well as external shocks.”
The BB chief hoped that the financial sector embracing CSR ethos and objectives will in turn sensitize and activate its non-financial client businesses in CSR commitments and initiatives.
He said the publication of this book is very timely and will strengthen the hands of those campaigning for more compliant corporate sector, particularly RMG in Bangladesh.
“This book covers a robust ground, including seven principles of ISO 26000 with practical examples, step by step approach to implement ISO 26000 along with benchmarking, monitoring, evaluating and improving SR activities,” he said. (Source: UNB)
