Muhith asks banks, corporate bodies to contribute more in CSR activities

FE Report Finance Minister AMA Muhith Saturday called upon banks and corporate entities to contribute more in the CSR arena. Addressing a scholarship awarding ceremony of Dutch-Bangla Bank Ltd (DBBL) in the city, the Finance Minister said, other banks should follow the DBBL which spends 5.0 per cent of its net profit every year to the development of education and other social segments of the country. Mr Muhith handed over the letters to the recipients in a programme held in the city. As part of DBBL's Tk 1.02 billion scholarship package, the bank distributed scholarship awarding letters to a total of 3008 students who passed SSC examination in 2011 and studying at HSC level in different colleges in the country. Mr Muhith underscored the need of support and cooperation of all corporate bodies for the underprivileged students in the country. Praising the DBBL role for patronising the quality education among the poor brilliant students, the minister said the fund DBBL is spending annually in promoting education across the country. "It is a matter of inspiration," Mr Muhith said adding that he was impressed with the positive response of the bank in its enhanced activities in the education sector. "We will take necessary steps to ease the scholarship awarding programme procedures," he said. Addressing the function, Bangladesh Bank (BB) Governor Atiur Rahman called upon the government to consider tax rebate for banks in a bid to accelerate the CSR especially the scholarship programme across the country. The BB Governor said he was impressed with the positive response of the banks in their enhanced activities in the corporate social responsibilities (CSR) during the last 23 years. "The banks invested Tk 550 million in CSR areas in 2009 but it rose to Tk 2.33 billion in 2010," the BB Governor disclosed praising such growth. "Tk 400 million was spent in education sector in 2010 by the banks," he said. The BB Governor also called upon the bank to use mobile technology for providing the scholarship. DBBL awarded scholarship some 3000 while it got 17000 applications, the BB governor added calling the banks and other financial institutions to come forward to financing human resource development areas. DBBL EC chairman Sayem Ahmed and Managing Director K S Tabrez also addressed on the occasion. "CSR is one of the cornerstones of our bank's operation," Mr Sayem Ahmed said. Earlier the bank also distributed scholarships to a total of 3021 students who passed SSC examinations in 2010 on May and 1883 students who passed HSC examination in 2010 on June this year. Mr Sayem Ahmed said DBBL is the biggest private donor and it is creating opportunities for the youths through its scholarship programme. The Bank will provide scholarships to a total of 5000 students every year that started in 2011, he said adding the number will reach 30,000 by 2016.