BB to announce comprehensive CSR policy soon

FE Report | September 24, 2014 00:00:00

Dr. Atiur Rahman, Governor of Bangladesh Bank, Prof. Dr. A A M S Arefin Siddique, Vice Chancellor, University of Dhaka, Raquibuddin Ahmed, President, DUAA and Ali Reza Iftekher, Managing Director & CEO of EBL are seen with the awardees of EBL-DUAA Inspira

Bangladesh Bank (BB) Governor Dr Atiur Rahman has reiterated his call for establishing a firewall between the banks' management and the board of directors to ensure transparency in the banking sector.

"A dividing firewall must be developed between the groups to evade any unexpected hurdle in regular banking functions," the BB governor said this Tuesday while delivering his speech at a scholarship awarding ceremony in the capital as the chief guest.

Dhaka University Alumni Association (DUAA) and Eastern Bank Limited (EBL) jointly arranged the function. DU Vice- Chancellor Prof AAMS Arefin Siddique, DUAA President Raquibuddin Ahmed and EBL managing director and CEO Ali Reza Iftekher, among others, spoke on the occasion.

The BB governor called upon the banks and other financial institutions to help the country's education sector as the sustainable development lies with the quality education.

"It is my personal request to you the bankers to establish a well-equipped modern scientific laboratory for the university's students at the Curzon Hall," he said adding that in the developed countries corporate and financial institutions work with the educational institutions closely.

Terming the CSR activities encouraging in the country, the governor said a sum of Tk 4.47 billion was spent last year by all banks together. However, he underscored the need for proper utilisation of the CSR (corporate social responsibility) fund.

He said to ensure transparent utilisation of CSR fund, the central bank is going to announce a complete and comprehensive CSR policy soon.

Apart from it, the BB's investigation team will visit the banks time to time and the authorities will take action, if any mismanagement in the fund disbursement and utilisation is found, he added.

"We must bring the wrongdoers to book to ensure good governance in the banking sector," the governor warned.

This year, a total of 566 students from 74 departments of the university received the scholarship from the bank. Under the programme each student received Tk 5000.

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