GBCSRD Circular Letter No. 02: Regarding Banking Service for Street Urchin and Working Children

Ref: GBCSRD Green Banking and CSR Department Bangladesh Bank Head Office Dhaka. GBCSRD Circular Letter No. 02 Date: February 12, 2015 Magh 30, 1421 Managing Director / Chief Executive All Scheduled Banks Operating in Bangladesh Dear Sir, Banking Service Provision for Street Children and Working Children. Instructions were previously issued via BRPD Circular No. 05, dated March 09, 2014, to bring street and working children under the ambit of banking services by opening bank accounts for them through NGOs. To facilitate the smooth and easy operation of banking activities for street and working children, the necessity for prior approval of Bangladesh Bank regarding the inclusion of NGOs in the list mentioned in Clause 1 of the aforementioned circular has changed. Accordingly, the following instructions are issued:

1. NGOs interested in managing bank accounts for street and working children must apply to any scheduled bank for approval to open an account. The concerned bank will select the NGO and conduct the bank account opening activity considering the NGO's reputation, reliability, experience in working with street children, infrastructure facilities, etc.

2. In the selection of NGOs, the bank will specifically examine the application NGO's registration documents, the activity report of the concerned NGO regarding street/working children, and the decision of the NGO's management board/trustee board meeting.

3. After the bank nominates the NGO, the concerned bank will execute a bilateral contract (MoU) with the nominated NGO and commence the bank account opening activity.

4. Within 15 days of commencing banking activities, banks must mandatorily submit the application and approval information regarding the account opening of the concerned NGO to the Green Banking and CSR Department through the Head Office of the bank, along with the following documents: I. Copy of the bilateral contract between the concerned bank and the applying NGO; II. Decision of the management board/trustee board meeting of the applying NGO regarding account opening; III. Details of the NGO's activities regarding street/working children; IV. Copy of the registration documents of the NGO;

5. Other instructions mentioned in the previously issued circulars shall remain unchanged.

These instructions shall take effect immediately.

Yours faithfully, (Manoj Kumar Biswas) General Manager Phone: 9530320