SFD Circular No. 01: Showing the expenditure related to promote use of Bangla-QR as CSR

Bangladesh Bank
(Central Bank of Bangladesh)
Head Office
Motijheel, Dhaka-1000
Bangladesh

Sustainable Finance Department

SFD Circular No.-01
Date: 23 March 2023
09 Chaitra 1429

Managing Director / Chief Executive Officer
All Scheduled Banks and Financial Institutions operating in Bangladesh

Dear Sir,

Regarding the presentation of expenditure related to promoting the use of Bangla QR as CSR.

In accordance with the Sustainable Development Goals, the initiative 'Cashless Bangladesh 2023-2027' has been undertaken to make 75% of all transactions in the country online or cashless by mid-2027. This is achieved by making transactions of all small and large businesses, including MSMEs, micro-markets, and low-income populations brought under financial inclusion, technology-driven. As part of this, it has been decided that the related expenses of banks and financial institutions for providing free payment services to the public through Bangla QR shall be presented under the CSR head.

2. In this context, banks and financial institutions may present the following expenses under the CSR head until 31 December 2023:

• Charges related to Merchant Discount Rate (MDR) and Interbank Reimbursement Fee (IRF) determined by Bangladesh Bank for all payments collected through Bangla QR;
• All publicity related to campaigns under the 'Cashless Bangladesh' initiative, all payments and infrastructure-related expenses of the Eid-ul-Adha markets operated through this medium, and all expenses related to publicity and promotion undertaken for the propagation and expansion of Bangla QR.

3. Travel allowances, food and accommodation, hotel bills, etc., of the officials of the concerned institutions under the 'Cashless Bangladesh' initiative, or expenses considered as travel allowances, shall not be presented as CSR expenses. Only banks and financial institutions that have participated in the 'Cashless Bangladesh' initiative can avail this opportunity.

4. It is advised to present the expenses mentioned in paragraph 2 under other heads of the reporting format issued via SFD Circular Letter No.: 01, dated: 10 April 2022. However, information regarding the aforementioned expenses must be sent to the Payment Systems Department on a bi-monthly basis.

Yours faithfully,

(Signature)
(Chowdhury Liaqat Ali)
Director (SFD)
Phone - 9533020
Email: gm.sfd@bb.org.bd chowdhury.ali@bb.org.bd