Bangladesh bank (BB) plans to formulate a regulation for corporate social responsibility (CSR) funds, mandatory for commercial banks and other financial institutions.

“We are going to formulate a regulation for CSR activities with the provision of retaining a minimum percentage of net profit of the financial institutions for performing their CSR activities” said BB governor Dr.

Atiur Rahman yesterday. He was addressing a MoU signing and cheque distributing ceremony organised by Green Banking and CSR department of Bangladesh Bank.

A total of nine government and non-government organisation, performing social services, were awarded by the BB’s Disaster management and social responsibility department for their outstanding contributions. 

The BB distributed cheques worth about Tk 4.25 crore among the organisations to enhance their benevolent activities. 

Distributing the cheques the governor hoped that the regulation would help build up a huge fund for CSR activities with wilful participations of banks and other financial institutions.