Lenders asked to file annual CSR budget by Feb

The Bangladesh Bank has directed all scheduled banks and non-bank financial institutions (NBFIs) to submit their annual corporate social responsibility (CSR) budgets, along with related documents, by February each year.

In a circular issued on September 7, the central bank said the move is aimed at monitoring CSR activities and ensuring proper utilisation of funds in line with sector-wise expenditure requirements.

Banks and NBFIs must provide information on their net profit after tax for the previous year based on December accounts, along with a copy of the CSR budget approved by their boards, including the board memo.

If the budget is revised later, an updated version must be submitted with the six-monthly report.

The directive takes immediate effect, the banking regulator said in the circular.