CSR to promote culture of openness, responsibility in business
Sunday, 24 October 2010
FE Report
Corporate Social Responsibility (CSR) has become an important parameter in modern business conduct. It gives stakeholders an opportunity to assess the companies in new ways, and it promotes a culture of openness and responsibility in business.
Discussants said this at a CSR presentation meeting with the business community of Chittagong at a local hotel in the port city Saturday.
Organized by Management and Resources Development Initiative (MRDI) in partnership with Manusher Jonno Foundation (MJF), the meeting was largely attended by investors and business leaders of the port city.
Rokia Afzal Rahman, Former Adviser to the Caretaker Government and President of Bangladesh Employers' Federation was present in the meeting as Chief Guest. Jahan Ara Siddiqui, Member, National Board of Revenue and Mohammad Naushad Ali Chowdhury, General Manager, Bangladesh Bank, Chittagong Branch; attended as Special Guests. Moazzem Hossain, Editor, Financial Express moderated the session and gave his opinion as a media expert.
Rokia Afzal Rahman in her speech said investors now-a-days increasingly looks for companies that manage environmental, governance and social risks, properly making CSR one of the indispensable core values. She stressed the need for developing a corporate culture in the country that would encourage businesses to be more socially responsible.
She said presence of the representatives of NBR and Bangladesh Bank in this meeting proves their commitment to the cause of CSR. We firmly believe that policy support and incentive from the government will encourage corporate sector to be more active in CSR.
NBR member Jahan Ara Siddiqui highlighted the revised SRO on CSR and hoped that it would facilitate and encourage the business community to come up with more CSR activities.
Mohammad Naushad Ali Chowdhury referred to the proactive measures of Bangladesh Bank to promote CSR.
Moazzem Hossain in his closing remarks said a working definition for CSR in Bangladesh perspective is very important. It is vital to differentiate between CSR, philanthropy and charity. Proper utilization of CSR fund can be a key-actor in eliminating poverty.
Hasibur Rahman, Executive Director, MRDI in his inaugural speech said CSR is recognized globally as a strong process for the corporate entities to serve community needs. In Bangladesh, he said, there have been little efforts to mainstream corporate funds into development works. If CSR funds can be used in addressing poverty alleviation issues in an effective and sustainable manner, dependency on the development funds will be largely reduced, he added.
Two video documentaries on field investigation by MRDI were exhibited followed by open discussions. The videos were - Saint Martins in peril which is about needs for the cleaning up the coral island and School blues about School infrastructure development in Char Fashion, Bhola.
The investigation was conducted to facilitate corporate sector in prioritizing the needs of the community which is critically important for sustainability of CSR activities.
Corporate representatives showed their interest in taking part in such type of development efforts. They also sought support from the government in the form of incentives and procedures.
Corporate Social Responsibility (CSR) has become an important parameter in modern business conduct. It gives stakeholders an opportunity to assess the companies in new ways, and it promotes a culture of openness and responsibility in business.
Discussants said this at a CSR presentation meeting with the business community of Chittagong at a local hotel in the port city Saturday.
Organized by Management and Resources Development Initiative (MRDI) in partnership with Manusher Jonno Foundation (MJF), the meeting was largely attended by investors and business leaders of the port city.
Rokia Afzal Rahman, Former Adviser to the Caretaker Government and President of Bangladesh Employers' Federation was present in the meeting as Chief Guest. Jahan Ara Siddiqui, Member, National Board of Revenue and Mohammad Naushad Ali Chowdhury, General Manager, Bangladesh Bank, Chittagong Branch; attended as Special Guests. Moazzem Hossain, Editor, Financial Express moderated the session and gave his opinion as a media expert.
Rokia Afzal Rahman in her speech said investors now-a-days increasingly looks for companies that manage environmental, governance and social risks, properly making CSR one of the indispensable core values. She stressed the need for developing a corporate culture in the country that would encourage businesses to be more socially responsible.
She said presence of the representatives of NBR and Bangladesh Bank in this meeting proves their commitment to the cause of CSR. We firmly believe that policy support and incentive from the government will encourage corporate sector to be more active in CSR.
NBR member Jahan Ara Siddiqui highlighted the revised SRO on CSR and hoped that it would facilitate and encourage the business community to come up with more CSR activities.
Mohammad Naushad Ali Chowdhury referred to the proactive measures of Bangladesh Bank to promote CSR.
Moazzem Hossain in his closing remarks said a working definition for CSR in Bangladesh perspective is very important. It is vital to differentiate between CSR, philanthropy and charity. Proper utilization of CSR fund can be a key-actor in eliminating poverty.
Hasibur Rahman, Executive Director, MRDI in his inaugural speech said CSR is recognized globally as a strong process for the corporate entities to serve community needs. In Bangladesh, he said, there have been little efforts to mainstream corporate funds into development works. If CSR funds can be used in addressing poverty alleviation issues in an effective and sustainable manner, dependency on the development funds will be largely reduced, he added.
Two video documentaries on field investigation by MRDI were exhibited followed by open discussions. The videos were - Saint Martins in peril which is about needs for the cleaning up the coral island and School blues about School infrastructure development in Char Fashion, Bhola.
The investigation was conducted to facilitate corporate sector in prioritizing the needs of the community which is critically important for sustainability of CSR activities.
Corporate representatives showed their interest in taking part in such type of development efforts. They also sought support from the government in the form of incentives and procedures.