BRPD Circular Letter No. 37: Operating Special CSR Activities under Corporate Social Responsibility (CSR) of Banks To Mitigate COVID-19 Crisis

Ref: BRPD, Banking Regulation and Policy Department Bangladesh Bank Head Office Dhaka.

12 July 2021 BRPD Circular Letter No. 37 Date: ----------------- 28 Asharh 1428

Managing Directors / Chief Executives All Scheduled Banks operating in Bangladesh.

Regarding the conduct of special CSR activities under the Corporate Social Responsibility (CSR) programs of banks to address the ongoing coronavirus crisis in the country.

Dear Sir,

We draw your attention to BRPD Circular No. 09 issued on 26 April 2021 and BRPD Circular Letter No. 29 issued on 21 June 2021 regarding the subject cited above.

2. Through BRPD Circular No. 09/2021, guidelines were provided for conducting special CSR activities to fulfill social responsibility by providing necessary assistance to vulnerable and disadvantaged groups affected by the coronavirus infection. Paragraphs 5 and 6 of the said circular provided guidelines regarding the expenditure and account maintenance of funds allocated for special CSR. Subsequently, through BRPD Circular Letter No. 29/2021, in addition to other guidelines, it was instructed that banks could also conduct special CSR activities under their own management, alongside District Administrators/NGOs/MFIs, to facilitate the execution of special CSR activities under Paragraph 3(b).

3. The Army Welfare Organization is a welfare institution operated by the Armed Forces. Due to the ongoing lockdown situation caused by COVID-19, the Army Welfare Organization is distributing relief materials received from various institutions across the country to the poor in remote areas of the country through the Armed Forces. Currently, under the strict lockdown announced by the government, all types of public transport have been suspended, and public movement has been halted except for emergency needs. Therefore, it is expected that if the special CSR funds formed by your bank are distributed through the Army Welfare Organization or the Armed Forces, they can reach the people's doorsteps quickly and more effectively. In this context, the following instructions are provided:

(a) In addition to conducting special CSR activities under the management of District Administrators/NGOs/MFIs and your bank, special CSR activities can also be conducted through the Army Welfare Organization. In this regard, necessary actions can be taken by contacting the office of the Chairman of the Army Welfare Organization. Separate accounts must be maintained for conducting special CSR activities through the Army Welfare Organization; and

(b) Except for the aforementioned instructions, all other instructions from BRPD Circular No. 09/2021 and BRPD Circular Letter No. 29/2021 will remain unchanged.

These instructions will be effective immediately.

These instructions are issued under the powers conferred by Section 45 of the Bank Company Act, 1991.

Yours faithfully,

(Md. Ali Akbar Farazi) General Manager Phone: 9530252