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Banks asked to spend additional CSR funds in Khulna, Rajshahi by Bangladesh Bank

The Bangladesh Bank on Monday asked all scheduled banks to operate special corporate social responsibility programmes in Khulna and Rajshahi divisions amid a spike in Indian variant coronavirus cases in the areas.

The central bank on Monday issued a circular in this connection asking the banks to disburse 50 per cent of their corporate social responsibility funds among districts under the Rajshahi and Khulna divisions.

After utilisation of the stipulated funds in the districts under the two divisions, they were asked to use the remaining CSR funds for other city corporations, districts, upazilas and unions as per the relevant circulars of the central bank.

If more than 50 per cent of their CSR funds had already been utilised outside the Khulna and Rajshahi divisions, the banks were asked to spend the entire remaining funds in the two divisions.

Media reports on the spike in CoVID cases caused by the Indian variant in the two divisions was brought to the attention of the central bank, prompting the BB to issue the circular.

Along with conducting special CSR activities in the divisions at their own initiative, the central bank allowed the banks to implement the CSR programmes through the district administrations, non-government organisations and microfinance institutions.

The banks were asked to implement the special CSR programmes in these areas within August 16 and report to the central bank on the implementation progress of the special CSR programmes by August 31.

Apart from the special programmes, the banks will implement their regular CSR programmes accordingly in line with the central bank’s relevant circulars.

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