Corporate Social Responsibilities Practises in the Banking Sector in Bangladesh

Only available on StudyMode
  • Download(s) : 335
  • Published : March 9, 2013
Open Document
Text Preview
INTRODUCTION

INTRODUCTION

Banking system occupies an important place in a nation's economy because of its intermediary role; it ensures allocation and relocation of resources and keeps up the momentum of economic activities. In a developing country like Bangladesh, the banking system as a whole has a vital role to play in the progress of the economic development.

Banks these days provide a variety of services. They provide both short- term and long- term credit. Their customers come from a small business to a multi- national corporation having its business activities all around the world. Today’s modern banks are not only providing traditional banking, rather banks are expanding the menu of financial services and banks are making the untouchable service touchable for their customers.

The changing and expanding role of banking has made the banking business more complex and competitive. Customers are the center of all the activities of a bank. This is very difficult to satisfy a customer in banking sector because the customers usually make judgment about the quality of services depending on how much satisfaction they are getting from the customer services and the way of judgment varies from customer to customer. Customers also want some sort of benefit from the banks. As well as the banks have some responsibilities to the society.

As the environment of Businesses is getting stiff day by day, companies are paying more concentration on the customers. And to be more responsive to the customers, companies have come out with the promotional activity called “csr” which has become the strength for some of the companies. CSR as a concept is being gradually interwoven into the psyche of local business, however, the process is slow and only in its infancy. In most of the cases, CSR practices are not particularly framed in the context of seeing to in that the money being given as corporate donations had been part of a sustaining community development effort. The banking sector of Bangladesh has been actively participating in various social activities. However, these efforts were hardly recognized and labeled as CSR activities since most of the financial institutions have not integrated CSR in their routine operation; rather these were in the form of occasional charity or promotional activities.

1. Origin of the Report:

The report entitled “Corporate Social Responsibilities practises in the Banking sector in Bangladesh”: A study on the banking sector of Bangladesh” has been prepared as a partial fulfillment of BBA Program authorized by the Director of BBA Program, Department of Accounting and Information Systems, University of Dhaka.

1.2 Background of the Report:

Banking sector is very much essential for the overall development of a country. Especially commercial banks play an important role in the field of economic growth as well as social growth. Now-a-days the concept of Social Responsibility is flourishing rapidly in a constructive way in banking sector. Earning the highest level of trust requires the balanced provision of value to four constituents: customer, shareholders, market environment & society and employees. Through this process, bank aims to contribute to the sustainable development of society as a whole, and to fulfill corporate Social Responsibility (CSR). Bank has taken various initiatives in various areas for attaining greater social goal. To reinforce CSR activities, bank has focused in the areas of employment, education, sports & cultural activities and disaster relief.

1.3 Rationale the Study:

The rapid pace of globalization over the last few decades has added new dimensions to the concept of Social Responsibility in the context of the market economy. The Banking sectors made significant progress and growth in terms of significant market share. Realizing the present condition, Banking sectors are trying to enlarge their area of social responsibilities...
tracking img