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Corporate Social Responsibility (csr) Practices in Banking Sector

Md. Shafiqul Islam
Assistant Professor
Department of Accounting and Information Systems Jatiya Kabi Kazi Nazrul Islam University Trishal, Mymensingh.

Abstract/ Executive Summary:

Corporate social responsibility (CSR) is one among the top prioritized agenda of any banking and non-banking organization in the modern world. Many profit and non-profit oriented organizations embraced CSR in a relevant manner and are evident from the number of actions undertaken by them. The article aims to study the CSR practices and initiatives of the banks in Bangladesh. This study has rationale as the banks represent majority of the financial institutions in Bangladesh. From the study, we found that CSR practices have no relation with commercial benefit of the banks as well as corporate social responsibility practices in banking sectors are acceptable and appreciable. In addition to this banks mostly contribute in education sectors as corporate social responsibility. The study suggests that a more comprehensive and humane involvement of the common people in the CSR practices is an essential concern , which would not only meet up the intended goals and objectives of the banks but also ensure a flourishing and sustainable development of the society.

Keywords: CSR, Bank, Environment, Social responsibility, Economic

Location:

Start Date:

End Date:

Program Area: Socio-economic and Policy

Non-commodity: Credit

Objectives:

To identify the major areas where CSR activities are undertaken by banks;
To compare and analyze the contribution of CSR activities of banks in different areas;
To recognize whether the activities are helping the society as a whole;
To provide some suggestions in this regard.

Methodology:

For preparing the paper, the study has to collect the data from two sources.

Collection of data:

A) Primary Sources of Data: Primary data is collected through face-to-face interviews from responsible & respective personnel concerned of the bank with the help of questionnaires. Different questions under each of the CSR variables (Economic, Social, Legal, and Ethical) were arranged. The respondents of the study include Senior vice President, Vice President, General manager, Management trainee officer, media officer & officer. The sample size is 68 and the study is collected data from seven (7) commercial bank of Bangladesh namely HSBC, Prime Bank Ltd, Mercantile Bank ltd, Islamic Bank Bangladesh ltd(IBBL), Dutch-Bangla Bank limited (DBBL), United commercial Bank Ltd(UCBL), and BRAC Bank ltd.

B) Secondary Sources of Data: In addition to primary data, the paper is also based on secondary data collected through company’s corporate profile, daily news paper, different journals, articles and bank’s websites. In modern business, promotion and marketing are not only designing the right services, pricing correctly & delivering its effectively, but also involves the task of practicing and executing about the CSR to the target customer.

Analyzing the data: The study is used 5 point Likert scale to grade the answers from the respondents of which 1 indicate strongly disagree(SD), 2 indicate disagree(D), 3 indicate neutral(N), 4 indicate agree(A), and 5 indicate strongly agree(SA). The researchers also used some statistical tools such as weighted average, standard deviation, Z- test, ranking for analyzing the data. The data are then analyzed in different angle for the purpose of transformation of raw data into a form that will make easy to understand and interpret.

Source of Information: J. Patuakhali Sci. and Tech. Univ. 2012, 3(2):99-110

Article Link (Online Journal):

Funding Source:

Total Budget (Tk.) :

Achievement/Findings:

Bangladesh are engaged in corporate social responsibility. Internationally this trend has improved over last few years. As far as banks are concerned, social and environmental responsibility is still at a minimum level compared to other countries. However, a large number of companies are engaged in altruistic activities, such as, social and community development, and setting up facilities that provide healthcare services. Additionally more companies are playing a major part in providing relief and rehabilitation in the consequences of natural disasters. In respect of corporate social responsibility a number of local entrepreneurs have formed their own humane foundations and entity. Corporate social responsibility can act as a strategic tool to facilitate the private sector’s vigorous involvement in activities to maximize benefits for all stakeholders.Though banks CSR activities in health sector are satisfactory for urban people, banks can spend more for the improvement of rural people awareness. Banks should be more careful about education, and government rules and regulations. Banks should invest more in environment protection as green banking concept for executing the CSR practices.

Knowledge Management: Journal