Regulatory Alerts2017-11-30
Added · Updated
SFD Circular Letter No. 06: Expenditure allocation for training to develop the efficiency of wage-earners and opening & maintenance of wage-earners' bank account under Corporate Social Responsibility activities to increase the foreign remittance
The Department of Offsite Supervision advises scheduled banks in Bangladesh to treat expenditures for training migrant workers and opening or maintaining their bank accounts as eligible Corporate Social Responsibility (CSR) activities. This guidance aims to remove barriers faced by migrants in sending remittances through banking channels, thereby increasing the flow of foreign remittances into the country. Banks are instructed to report these expenses under the specific sub-category of 'Remittance Promotion' in the format prescribed by the GBCSRD Circular Letter No. 06 dated June 10, 2015. These instructions are to be implemented immediately.