Market Digest

BB allows banks to conduct CSR activities thru Sena Kalyan Sangstha

13 July, 2021 12:00 AM printer

Bangladesh Bank (BB) has allowed banks to conduct their corporate social responsibility (CSR) activities through Sena Kalyan Sangstha.

   "The Deputy Commissioner or NGO or MFI and bank can conduct special CSR activities under their own management as well as through the Sena Kalyan Sangstha. In this case, the necessary activities can be taken by contacting the chairman's office of the Sena Kalyan Sangstha. Separate accounts need to be maintained for conducting special operations through the Sena Kalyan Sangstha," as per a BB circular issued on Monday, reports BSS.

As per the circular, Sena Kalyan Sangstha is a welfare organization run by the Armed Forces. In the ongoing lockdown due to Covid-19, the sangstha is distributing relief items from various organizations across the country through the Armed Forces to the poorest people in remote areas of the country.

At present, under the strict lockdown announced by the government, all types of public transport have been stopped  and public movement has been stopped except for urgent needs. As a result, it is hoped that the special funds created by banks will be disbursed through the Sena Kalyan Sangstha to reach the doorsteps of the people faster and more effectively, the circular added.

Earlier, the central bank asked banks to raise their CSR expenditure and allocate additional funds to it, for dealing with the second wave of the Covid-19 pandemic.

 


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