CSR activities of banks, FIs rise six times in last 5 years

Posted by BankInfo on Sun, Nov 24 2013 12:16 pm

Expressing his concern over the ongoing political impasse, the Bangladesh Bank (BB) Governor Dr Atiur Rahman said Saturday that country's all achievement will be ruined  if destructive trend continues.

He also said the people of the country are looking forward to the politicians to save them from self-destructive politics.

"We have achieved some good economic indicators in the last few years. But, all of these are facing challenge due to the growing political instability and destructive activities," he said while addressing a programme titled 'Mercantile Bank Abdul Jalil Education Scholarship-2012' at a city hotel.

BB Governor said that the political turmoil and lack of developed infrastructure affect the overall investment.

Upholding the economic development of the country, he said according to a London based research Bangladesh progressed in the seven from the eight indicators of development.  

Dr Rahman said the gross domestic product (GDP) growth in the country went up more than six percent amid the global recession and internal political crisis. The foreign currency reserve has also crossed the US$17 billion milestone, he said.

The central bank governor also mentioned that expenditures in Corporate Social Responsibility (CSR) activities undertaken by banks and non-banks financial institutions were increased six times during the last five years.

In last five fiscal years, the banks, financial and non-bank financial institutions spent Tk 30.05 million in conducting different CSR activities, he added.

The contribution of CSR activities to the growth of financial inclusion has strengthened and balanced the country's overall micro-economy, hepointed out.

In recent times, inflation came down to 7.03 per cent, forex reserve roared to US$ 17.6 billion and per capita income reached $ 1044, the governor said adding that the country's balance of payments was also in a very stable position right now.

Mercantile Bank Limited (MBL) organised the programme where some 174 students from various colleges and universities were awarded scholarship for their outstanding results.

Each of students received Tk 750 monthly basis for excellent results in JSC level, Tk 1000 monthly basis for brilliant results in SSC level and Tk 1500 monthly basis in HSC level.

MBL Managing Director M Ehsanul Haque said total 760 meritorious students will be awarded the scholarship from across the country. The bank will distribute the scholarships to district level students through nine branches of the bank. 

MBL chairman M Amanullah presided over the programme.

News:The Financial Express/24-Nov-2013

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