Regulatory Alerts2023-03-23
Added
SFD Circular No. 01: Showing the expenditure related to promote use of Bangla-QR as CSR
The Sustainable Finance Department of Bangladesh Bank authorizes scheduled banks and financial institutions to classify specific expenditures related to the promotion and use of Bangla QR codes as Corporate Social Responsibility (CSR) costs until December 31, 2023. Eligible expenses include Merchant Discount Rates (MDR) and Interbank Reimbursement Fees (IRF) set by the central bank, as well as campaign and infrastructure costs for the 'Cashless Bangladesh' initiative. The circular explicitly prohibits the classification of employee travel, accommodation, and daily allowances as CSR expenses and requires institutions to report these specific costs to the Payment Systems Department on a bi-monthly basis.
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