BB asks banks to set up sustainable finance depts

Staff Correspondent | Published: 23:36, Dec 04,2016


Bangladesh Bank has asked scheduled banks and non-bank financial institutions to set up sustainable finance departments to speed up their environment-friendly banking and strengthening the monitoring process of corporate social responsibility related activities.
The BB issued a circular to managing directors and chief executive officers of all banks and NBFIs on Thursday asking them to set up the departments or units within 45 days.
The BB asked the banks to form a sustainable finance committee led by a deputy managing director to monitor the concerned bank’s activities in this reagrd.
The circular said that the United Nations earlier declared the ‘Sustainable Development Goals’ and the Bangladesh government had recently taken initiative nationally to implement the UN programme.
The prime minister has already asked all government and non-government bodies to implement the initiative, it said.
The BB asked the banks to give attention for sustainable finance to ensure financial stability in the banking sector.
The sustainable finance department or unit of the banks and NBFIs will play a role in ensuring sustainable finance, a BB official told New Age on Sunday. 

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