Bangladesh Bank Governor Dr. Atiur Rahman yesterday asked the commercial banks to constitute a special humanitarian fund under their corporate social responsibility (CSR) initiatives to help build a caring society.

“CSR activities of banks got momentum since 2008 and banks are now carrying out a lot of activities as part of their social obligations,” said the central bank governor while speaking on the occasion of releasing the second review of CSR initiatives in banks 2010. The governor handed over a cheque of Tk 1.25 million to Sammilita Sangskritik Jote leader Nasiruddin Yusuf for artist Dhali Al Mamun who was critically injured in a road crash that killed noted film director Tarique Masud and cinematographer Mishuk Munir.

Speaking as the chief guest, Atiur said “CSR is for humanitarian purpose and banks have a lot to do for the poorer and disadvantaged section of the society.”

The central bank governor said under CSR initiatives, banks can extend their financial support to poor freedom fighters and their families, vulnerable women and for education purposes.

Banks will soon accord reception to renowned persons such as academic Sardar Fazlul Karim, journalist Nirmal Sen and actor Anwar Hossain for their role inspiring the society people.

He said all banks with their direct budgetary expenditures are expanding their CSR peogrammes. They are also actively involved in financial inclusion initiatives aimed at reaching credit and other financial services to the poor in farm and non-farm activities, he added.

“CSR initiatives for addressing environmental concerns have also widened substantially,” he added.

The governor said BB has been channelising a special credit through banks for spice farming. The government will charge 6 per cent interest for this credit while banks take 4 per cent interest from borrowers, he added.

According to the review, CSR activities of banks deepened and widened in 2001 as 46 banks out of 47 directly spent Tk 2.33 billion during the period. Twenty four banks had spent only Tk 550 million in 2009.

Out of the total CSR expenditures, banks spent Tk 4.6041 billion for humanitarian and disaster relief, Tk 4.0079 billion for education, Tk 6.8907 billion for health, Tk 265.23 for sports, Tk 3.2891 billion for art and culture, Tk 597.8 million for environment and Tk 1.2558 billion for other purposes.

The state owned banks opened about 9.5 million new accounts of rural farmers with deposit of Tk 10 only. A Bangladesh Bank special refinance line amounting to Tk 5 billion is being managed by BRAC for lending to sharecroppers. The central bank has a Tk 2 billion refinance line for institutions lending for solar energy, biogas, ETP (Effluent Treatment Plant) and other green banking initiatives

News: Daily Sun/ Bangladesh/ 13-Oct-2011