Green Banking

Topics: Bank, Environmentalism, Banking Pages: 12 (3835 words) Published: February 21, 2012
An Executive Development Program on 'Green Banking Initiative: Opportunities for Bangladesh' was organized by Islami Bank Bangladesh Ltd (IBBL) on September 28,2010 at the Mohammad Younus Auditorium of Islami Bank Tower in the city. Presided over by Mohammad Abdul Mannan, Managing Director of the Bank, Prof Dr Bandana Saha, Director General of Bangladesh Institute of Bank Management (BIBM) was present in the program as Chief Guest. The key discussion was presented by Dr Shah Md Ahsan Habib, Associate Prof and Director (Training) of BIBM. The function was attended among others by Md Habibur Rahman and Md Setaur Rahman, Deputy Managing Directors, Nurul Islam Khalifa, Executive Vice President and Director General of Islami Bank Training and Research Academy (IBTRA), top executives, Incumbents of Dhaka City branches of the Bank.

Professor Dr Bandana Saha in her speech as Chief Gust called upon the Banks to play pioneer role in planning, evaluation and implementation of sustainable development. She praised Islami Bank for taking initiatives to create awareness on Green Banking at different tyre of employees.

>Mohammad Abdul Mannan in his Presidential Speech said that the idea of Green Banking is quite similar to the goals and objectives of Islami Bank. Since the very inception of the Bank, IBBL has been conducting diversified investment in financial upliftment of the deprived and downtrodden class of the society and development of the economy of the country as a whole for attaining welfare instead of manipulating profit. IBBL has been working as a partner of Green Banking initiative by investing in environment friendly projects and giving priority on social welfare in industrial investments.

Dr. Shah Md. Ahsan Habib in his keynote-paper focused and discussed on theoretical perspective and its multi dimension, worldwide diversified initiatives and its relevance and application in Bangladesh

Green banking is like a normal bank, which considers all the social and environmental/ecological factors with an aim to protect the environment and conserve natural resources.It is also called as an ethical bank or a sustainable bank. They are controlled by the same authorities but with an additional agenda toward taking care of the Earth's environment/habitats/resources.

Ideal Benefits of Green Banking:

* Basically Ethical (Green) banking avoids as much paper work as possible and rely on online/electronic transactions for processing so that you get green credit cards and green mortgages. Less paperwork means less cutting of trees. * Creating awareness to business people about environmental and social responsibility enabling them to do a environmental friendly business practice. * Green (Ethical) banks adopt and implement environmental standards for lending, which is really a proactive idea that would enable eco-friendly business practices which would benefit our future generations. * When you are awarded with a loan, the interest of that loan is comparatively less with normal banks because ethical banks give more importance to environmental friendly factors - ecological gains. Natural resources conservation is also one of the underlying principles in a green bank while assessing capital/operating loans to extracting/industrial business sector.

Green Banking as a concept is a proactive and smart way of thinking with a vision for future sustainability of our only Spaceship Earth - as design science explorer Richard Buckminster Fuller called our Earth.

Though, even today in the New York Times, an article on the success/failure of green banking in US has been analyzed for green banking is making progress though its profit margins are far below than the other commercial banks. Our SBI in India has also gone with an operational segment of green banking. Green banking requires a paradigmatic change in thinking about economics, business and finance. Its success would be greater if the world governments started to revise their...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • banking Essay
  • Banking Essay
  • Careers in Banking Essay
  • Personal Finance: Banking Assignment Essay
  • Agent Banking Research Paper
  • nri banking Essay
  • Modern Banking Essay
  • Uk Banking System Essay

Become a StudyMode Member

Sign Up - It's Free