BB promotes CSR to avoid risks

Posted by BankInfo on Wed, Oct 23 2013 12:07 pm

The Bangladesh Bank Governor Dr Atiur Rahman has said the regulator has been promoting socially responsible banking in Bangladesh to avoid financial crisis.

For doing so, the central bank took lessons from the most recent global financial crisis, what he said, “was in part caused by excessive risk taking and a narrow focus on short-term profit maximisation on the part of key financial institutions.”

The governor was speaking at a discussion at World Bank heaqquarters in Washington on Friday.

The event was organised on the sidelines of 2013 annual meeting of the World Bank Group and the International Monetary Fund.

He said BB has already formulated a CSR guideline that indicates the type of activities that banks can classify as CSR and which also excludes elite club contributions.

The annual CSR report launched in by all banks created healthy competition in the banking sector, he added.

News:The Daily Sun/13-Oet-2013