Banks, NBFIs urged to spend CSR funds to help flood victims
The banking regulator made the call in a circular issued today (25 August).
The Bangladesh Bank has called on the country's banks and non-bank financial institutions (NBFIs) to support flood victims using money from the institutions' Corporate Social Responsibility (CSR) funds.
The banking regulator made the call in a circular issued today (25 August).
The circular states that immediate financial assistance and relief items, including food, clothing, clean water, emergency medicine, childcare and food items, animal feed, boats, first aid kits, portable stoves, portable solar lanterns, portable pico home systems, portable chargers, life jackets, and mosquito nets will be provided to flood-affected areas.
"Banks and NBFIs can therefore contribute to the chief adviser's Relief and Welfare Fund to that end," said the central bank.
At the same time, banks have been advised to show expenditure on disaster management under other sectors in the CSR Reporting Format.