Banks suggested carrying out CSR without impeding revenue

27 April 2014

BSS, Dhaka :
Bangladesh Bank (BB) Governor DR Atiur Rahman on Saturday suggested banks to carryout their CSR (consumer social responsibility) without impeding revenue earnings of the government.
He made the suggestion at a discussion on the policy support to CSR in the context of tax exemption for the banking sector, orgainsed by Management and Research Development Initiative (MRDI) at the Bangladesh Institute of Bank Management (BIBM) auditorium in the city.
At the inaugural speech, the governor acknowledged that the banks' CSR programmes deserve various incentives, but suggested that they should be motivated to find the ways to carryout their CSR activities without impeding the revenue of the government.
Citing that the National Board of Revenue (NBR) is now offering some tax incentive to banks for CSR programme, he said tax incentive is one of the major policy instruments for enhancing CSR.
He, however, advised that regular research and regulatory coordination are urgently required for finding the policy gap and improvising accordingly to explore the hidden potential of successful CSR operations.

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