5% bank CSR funds sought in govt education trust

Bangladesh Bank yesterday asked banks to keep 5 per cent of their annual budget for corporate social responsibility (CSR) programmes undertaken by the Prime Minister's Education Assistance Trust. 

A central bank official said banks commonly set aside 2-3 per cent of their net profit to run CSR activities.

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Banks will have to provide the fund to the assistance trust by May 30 every year, according to a central bank notice.

"The fund given by banks will help the assistance trust expand even more," it said.

As per the central bank policy, each bank has to spend at least 30 per cent of its CSR fund in the education sector.

Banks disbursed Tk 629 crore in the first six months of the year under their CSR programmes.