BB to increase CSR fund to Tk 100m

Bangladesh Bank (BB) will increase its own CSR (Corporate Social Responsibility) fund to Tk 100 million (10 crore) in the coming fiscal from the current amount of Tk 51.3 million (5.13 crore).

Bangladesh Bank (BB) Governor Dr Atiur Rahman made the announcement Thursday at a programme at the BB's headquarters in the capital city, AFM Asaduzzaman, General Manager, Governor Secretariat of BB, told BSS.
He said BB would have a CSR fund of Tk 100 million in the coming 2015-16 fiscal for supporting more projects to encourage more institutions being socially responsible besides doing their own business.
The central bank has already expanded its CSR activities, with pledging financial support to 30 projects in the current fiscal, which are more than double the projects the central bank funded last year.
The central bank Thursday finalised the memorandum of understanding (MoU) with 26 organisations and handed over the cheques of Tk over three crore for the first instalement of the fund to implement the projects. Similar deals would be done soon with four more organisations for the rest four projects.
The 30 projects covering the areas including financial inclusion, socio-economic development, environment protection, education and health, rehabilitation of differently able persons, public welfare, consumers' rights protection, human resource development and wellbeing of the Birangonas (heroines of the War of Independence in 1971).
"Besides the banks and financial institutions, Bangladesh Bank as regulator has got involved in the CSR activities towards attaining sustainable development in the field of economy," Governor Dr Atiur Rahman told the programme, organised at the central bank's headquarters in the city for signing the MoUs and handing over the cheques.
The governor expected that the direct involvement of BB, though with limitation, would encourage others. He called all the institutions in the financial sector to carry out CSR activities to help develop the country's financial sector to help ensure betterment of society.
Last year, the central bank funded 14 projects by providing Taka five crore from its CSR fund, which was introduced in 2013. This year the central bank increased its funding to Tk 51.3 million.