Making sense of CSR: Connecting to disability in development

Atiur Rahman We are in the month of International Day of People with Disability. Recently we have celebrated its 20th anniversary whose theme was "Together for a better world for all: Including person with disabilities in development". The theme is very appropriate from the development aspect in the sense that without the inclusion of all population segments of the society, particularly the disadvantaged and disabled, the hard-earned social and economic development is not sustainable. That is, we need to ensure an inclusive growth process that offers equal advancement opportunities to all population segments of the society. Realising this, Bangladesh Bank has been campaigning on financial inclusion that promotes inclusive growth and offers financial services at the doorstep of all people of the country. Let me now shed lights at few recent statistics on disability. According to the UN, around 15 per cent of the world's population is disabled. A recent WHO report reveals that, around 9.0 per cent of total populations in Bangladesh are disabled and only 11 percent of them have access to education. These statistics provide enough rationale for us to think deeply about the welfare of the people with disability so as to ensure an inclusive economic and social growth. In FY 2011-12 national budget, around Tk 1.0 billion has been allocated for providing financial assistance to 0.29 million poor people with disability. Besides, the government has taken a good number of initiatives for the disabled including setting up of schools, vocational training and rehabilitation centres, scholarships for poor disabled students, training workshops and so forth. Nevertheless, this is not enough to meet the need of around 13.0 million disabled people of the country and therefore requires active engagement of the private sector which we call the corporate social responsibility (CSR). CSR is gaining fast global acceptance as a standard of socially equitable business practices. The role of business worldwide has evolved from classical 'profit maximizing' approach to a 'socially responsible' approach, where business is not only responsible to its stockholders but also to all of its stakeholders in a broader inclusive sense. Let me now briefly discuss how the banking sector in Bangladesh is engaged in various social businesses. Immediately after assuming position as the BB Governor, I have taken strong initiatives of mainstreaming CSR into corporate goals and objectives. Responding to this, CSR activities of banks deepened and broadened substantially. In 2010, CSR expenditure of banks totalled Tk 2.32 billion; four fold larger than in 2009. Highest expenditure was in the health sector followed by disaster relief and education. Health sector expenditure comprised financial contributions to hospitals, clinics and other facilities run by external organisations. Besides, some banks are running their own non-profit hospitals and diagnostics establishments. To ease financial services to the disabled, Bangladesh Bank (BB) has set up separate counter at the cash department of its all branch offices. Besides, BB has advised all scheduled banks in Bangladesh to nominate an officer as the key focal person for providing financial services to the disabled. BB's agricultural credit programme attaches special priorities to the disabled in distribution of agricultural credit. . Banks are also helping mentally and physically disabled people of the society through theirs various CSR programmes. For example, Dutch-Bangla Bank (DBBL) awarded scholarships to five physically disabled students who passed SSC examination in 2009. The scholarship covers financial assistance for their full academic periods. Besides, DBBL arranged free surgical operation for children and adolescents with club-feet and plastic surgery operation camp under its Smile-Brighter Programme. Another bank, the Standard Bank is serving people by setting up a temporary eye treatment project and also donated cheques to 20 war wounded Freedom Fighters. HSBC has been providing scholarships to 30 blind students over the past three years; the number has increased to 50 in 2011. BRAC Bank is providing financial aids for the treatment and education of hearing impaired poor people of the society. BRAC Bank is also supporting the leading school of Autistic Children for building awareness about Autism. Besides, BRAC Bank has provided educational materials to around 300 underprivileged children with multiple disabilities. So, these are the few examples of how the banking industry in Bangladesh has been contributing to enhance the welfare of people living with disabilities. I can assure you that over the coming years banks will deepen and broaden their activities towards this population segment of the society. Atiur Rahman Ph.D, Governor of Bangladesh Bank, delivered this speech at a workshop organised by the Centre for Disability in Development at a city hotel recently. He can be reached at e-mail afm.asad@bb.org.bd