EXECUTIVE SUMMARY
The banking system plays a critical role in underpinning
economic development. Banking sectors of
Bangladesh has shown a great success in all areas of operation with a view to
improve the socio-economic development of the country.
Awareness of issues in socially
and environmentally responsible business and organizational practices is increasing among
users of financial services in
Bangladesh. Banks and financial institutions will therefore be
well advised to adopt CSR practices in formal, structured manner inline with
global norms. Socially and environmentally responsible practices will, besides
fulfilling the moral obligations involved, also help preserve competitive edge
in client bases sensitive to these concerns. Further, the disadvantaged
population segments aided by social responsibility initiatives will hopefully
constitute their future new client bases.
This study reviews recent CSR
activities of banks, in light of the BB guidance circular issued in June 2008 for mainstreaming
CSR practices in the financial sector in
Bangladesh. The financial sector in turn can
contribute hugely by catalyzing CSR practices in their real sector corporate
clients, promoting inclusive economic and social development. I hope this report
will be useful for banks and financial
institutions in learning from each other’s examples.
