Banks can conduct CSR through Sena Kalyan Sangstha
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
From now onwards, banks can conduct their corporate social responsibility (CSR) activities through Sena Kalyan Sangstha (SKS).
As per a Bangladesh Bank circular issued on Monday, banks have to contact the office of the SKS chairman in this regard. Separate accounts need to be maintained for conducting special operations through SKS.
Besides, they can continue their CSR activities through deputy commissioner, NGO and microfinance institutions.
Keep updated, follow The Business Standard's Google news channel
The circular reads SKS is a welfare organisation run by the Armed Forces. In the ongoing lockdown due to Covid-19, the organisation is distributing relief items provided by various organisations 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, the disbursement of banks' CSR funds through SKS will be more effective, easier and faster to reach the doorsteps of the people, the circular reads.
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.
