Regulatory Alerts2024-08-25
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SFD Circular Letter No. 02: Distribution of Financial & Relief Assistance in the Flood-prone Areas across the Country under Corporate Social Responsibility (CSR) Programme
The Sustainable Finance Department directs all scheduled banks and finance companies in Bangladesh to immediately provide financial assistance and relief supplies to affected populations in flood-hit areas, including Feni, Noakhali, Chittagong, Cumilla, and Khagrachhari. Institutions are instructed to channel these contributions to the Prime Minister's Relief and Welfare Fund and are advised to classify these expenses under the 'Other Sectors' sub-sector of the 'Other Business' category in their CSR reporting. This directive mandates the immediate implementation of relief efforts for communities rendered homeless due to flash floods and heavy rainfall.
Bangladesh Bank (Central Bank of Bangladesh) Head Office Motijheel, Dhaka-1000 Bangladesh 25 August 2024 SFD Circular Letter No. 02 Date: -------------------- 10 Bhadro 1431 Managing Director / Chief Executive Officer All Scheduled Banks and Finance Companies Operating in Bangladesh Dear Sir,
Regarding the provision of necessary financial and relief assistance to flood-prone areas across the country under the Corporate Social Responsibility (CSR) Programme
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Reference is drawn to the CSR Guidelines issued through SFD Circular No. 01, dated 09 January 2022.
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Recently, due to flood situations in various districts of Bangladesh, including Feni, Noakhali, Chittagong, and Cumilla, various regions and roads have been submerged, and there has been extensive damage to houses, crops, and livestock. On the other hand, the flood situation in Khagrachhari district has also deteriorated severely due to heavy rainfall. Due to sudden flash floods, heavy rain, and inundation, the people in the said areas are living an inhuman life as homeless.
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In this situation, in light of the instructions mentioned in the aforementioned circular, it is necessary to immediately provide necessary financial assistance and relief items (food, clothing, clean water, emergency medicine, child care and food items, animal feed, boats, etc.) to the helpless people of the areas affected by the recent floods under the Corporate Social Responsibility (CSR) Programme. Therefore, it is stated that this can be provided to the 'Prime Minister's Relief and Welfare Fund'.
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It is also advised to you to show the expenditure related to this under 'Other Sectors' of the 'Other Business' category issued through SFD Circular No. 05, dated 23 November 2023.
These instructions will be implemented immediately.
Yours faithfully,
(Chowdhury Liaqat Ali) Director (SFD) Phone: 9530320 E-mail: sfd@bb.org.bd Sustainable Finance Department