Assignment on Corporate Social Responsible activities of Jamuna Bank Ltd

Corporate Social Responsibility: Jamuna Bank believes that Corporate Social Responsibility (CSR) is integral and inseparable part of the long term business and sustainable growth and success, which plays an important role in promoting values both locally and internationally. The bank integrates all social, environmental and socio-economical issues in the time of its decision making. Contribution in CSR programs is always supported and encourage by the Board of Directors of the Bank. The management reports to the Board on CSR activities and is responsible to implement a specific line of approving authority, control and monitoring for financial support to such activities.

In the table below, sector-wise spending of the Bank for CSR purpose in 2009 and 2010 has been furnished:

Jamuna Bank Foundation

Jamuna Bank Foundation has been established to act as a helping hand to the community people and Bank’s commitment towards CSR. The Foundation always plays its role by extending charitable and beneficial social services. The Foundation has been promoting a dialogue between the Bank and its community for over nine years. Through its programs, the Foundation strives to preserve and promote cultural heritage and support artistic expression. It also provides funding for state-of-art research, as well as for innovative projects in the areas of education, social insertion and disability.

Objectives of Jamuna Bank Foundation

Jamuna Bank Foundation has been formed with the aim of achieving some objectives, which has been stated below:

1. To take possible initiatives in increasing social well-being and alleviating poverty from the country.

2. To support the education by establishing new educational institutions, providing stipends/ scholarship to the poor and brilliant students.

3. To provide awards to the Scholars in eight significant arenas for their outstanding contribution. These arenas are:

• Bengali Language and Literature
• Education and Culture
• Research on Liberation War
• Economy and Economic Research.
• Healthcare
• Industry and Commerce
• Agriculture based Research and Development
• Commerce and Industry
• Medicine, Science and Technology
• Journalism and
• Sports

4. To assist research activities on Bengali Literature through BanglaAcademy.

5. To support the writers and publishers through purchasing their books and distributing these to different educational institutions on the occasion of national and historical days.

6. To assist the unemployed young to make them self-sufficient.

7. To assist the rootless and distressed orphans through taking appropriate steps for their mental perfection and self-support.

8. To support in establishing hospitals, clinics, etc. for the improvement of the health sector, to donate one time financial endowment to the poor artiste, literature-patron and fatal disease-affected poor patients, to support the poor father for arranging his daughter’s marriage, to help poor but bright students.

Financing of the Foundation

• The Bank contributes 1% of Operating Profit or BDT 4.00 million, which one is maximum.
• The Sponsors of the Bank donates to the Foundation a lump sum amount at a time or amount on yearly- basis from their own funds or their own business source.
• Grants and Donations from persons/ organizations of home and overseas.

Jamuna Bank Awards: Since inception, Jamuna Bank Foundation has been awarding Scholars of the country for their outstanding contribution in respective fields. In its continuation eight scholars have been awarded in 2009 and eleven scholars have been awarded in 2010.

Jamuna Bank Special Award 2009 & 2010

MBL Foundation for Distressed and Disabled People

MBL Foundation receives requests for financial aid from disable people, disaster victims for various organizations including educational and professional institutions and charities. In response of these requests, the Foundation comes forward to aid these people and institutions. In 2009, 144 individual distressed and disabled people have been given financial assistance from the Bank’s Foundation.

Bank’s Responsibilities to Society People

MBL behaves in a responsible manner with the community people, intending to contribute towards changing the standard of peoples life. In discharging the CSR responsibilities, the bank contributes on the areas of education, health, employment, professional development, art and culture, disaster management and contributes to the national exchequer as well.

Response to Disaster/ Natural Calamity

MBL always shares the well and woe of the distressed people. It emphasizes on addressing the needs of disaster victims.

Donation to “Aila” affected People

During 2009, MBL provides the following donation to the Prime Minister’s relief fund through various organizations to help the Cyclone “Aila” affected people:

• Donation of BDT 0.20 million through Progressive Doctor Forum.
• Donation of BDT 1.00 million through Prime Minister’s relief fund.
• Donation of BDT 1.00 million lac to the Aila affected people of Barisal Region.

Distribution of Winter Clothes among the Poor People

MBL has distributed winter clothes among the distressed people of the cold affected areas of the country. About 14000 pieces of new winter clothes like Blankets, Shawls and Sweaters worth BDT 2.5 million in 2009 and 20000 pieces of new winter clothes worth BDT 3.4 million in 2010 has been distributed with the co-operation of the local peoples representatives in the cold affected areas of 14 District of the Country.

Financial Support to BDR Mutiny-affected Families

BDR mutiny in February, 2009 caused an irretrievable loss to the nation. MBL has widened its arms to share the sufferings of the revolt-affected families. To help BDR mutiny-affected families the Bank makes the following donations:

• Donation of BDT 2.50 million to Prime Minister Relief Fund through Banker’s Association of Bangladesh (BAB).
• Donation of BDT 50 thousand to Prime Minister Relief Fund through Dhaka Stock Exchange (DSE).
• Donation of BDT 0.48 million to Ms. Hosneara Begum Rima.
• Donation of BDT 0.48 million to Ms. Majeda Jerin Chowdhury.

Donation to “Neemtoli” Tragedy Victims

In 2010 MBL has donated an amount of BDT 5 million to the Prime Minister’s Relief Fund for the victims of Neemtoli of the OldTown of the Capital.

Health and Medical

MBL believes that earnings profit is not the only goal; rather it always wants to maximize the social being. The Bank provides support to different medical and health institutions each year.

                                            Year 2009

• A C.N.G Bus has been donated to the BSMMU of BDT 2.45 million.
• MBL donates BDT 2.5 million to AhsaniaMissionCancerHospital, Dhaka.
• MBL has sponsored 2 (two) patient beds at BIRDEMHospital.
• MBL has donated BDT 24.97 lac to SEID Trust for development of the underprivileged children with intellectual and mental disabilities.

                                             Year 2010

• MBL has donated BDT 5.0 million to Kidney Foundation to establish a hospital.
• MBL has donated BDT 9.18 lac to SEID Trust for development of the underprivileged children with intellectual and mental disabilities.
• MBL has donated BDT 5 lac to HicareSchool, Rajshahi for education and development of the deaf children.
• MBL has donated BDT 1.2 million to national Heart Foundation, Feni.

Professional Development

MBL has been supporting the various professional bodies each year.

                                             Year 2009

• MBL donated BDT 0.10 million to ICAB for arranging the award giving ceremony.
• MBL has been contributing to develop professionalism of the doctors by providing loans to doctors with easy terms and conditions under ‘Doctor Loan Scheme’ which has become very popular.
• MBL also donates The Bangladesh Federal Union of Journalists, The Dhaka University Alumni Association, The Chittagong University Alumni Association and Dhaka Sub Editors Council.

Education and Learning:

During year 2009 MBL provides the following donations for the education and learning purposes:

• Donation of BDT 0.50 million to Shahjalal Science and TechnologyUniversity.
• Donation of BDT 1.00 million to four Faculty Members of Khulna University.
• Donation of BDT 0.50 million to Naogaon Astan Mollah Mohabiddayalaya.
• Donation of BDT 0.10 million to MBM Graduates of BIBM.

Year 2010

Some professional institutions that MBL donates in 2010 are:

• Bangladesh Photo Journalists Forum.
• The DhakaUniversity Alumni Association.
• The Chittagong Press Club.
• Bangladesh Paper Merchant Association.
• The Naogaon Press Club.
• Bankers Association of Bangladesh.

Education and Learning:

• Donation of BDT 0.7 million to JahangirnagarUniversity.
• Donation of BDT 1.0 million to SylhetMetropolitanUniversity for Student Welfare.
• Donation of BDT 0.5 million to Foyezuddin Memorial Collage, Naogoan.
• Donation of BDT 0.5 million to Tetulia B M C Collage, Naogoan.
• Donation of BDT 0.2 million to MeherunnessaGirlsSchool and Collage, Dhaka.
•  Donation of BDT 1.0 million to MBM Graduates to BIBM.

Art and Culture

As a recognized benefactor of culture, MBL takes some non-profit initiatives every year. Cultural institutions have been donated to organize cultural events in different times.

                                                  Year 2009

• Celebrating Bangla New Year-1416.
• MBL donates BDT 3.20 million to arrange Amar Ekushey Granthamela-2009.
• MBL donates BDT 0.30 million to Patua Quamrul Islam Art School to arrange National Children Art Exibition-2009.
• Donation to Kendriyo Khelaghar Asar.
• Donation to Jatiya Nabanno Parisod.
• Donation to Gano Shanskritik Motri.
• Donation to DhakaUniversity Debating Society.
• Donation to Gulshan Club for Arranging Concert.
• Donation to American Alumni Association.

Fostering the Traditional Games and Sports

• Donation to Bangladesh Chess Foundation to arrange National Chess Championship-2009.
• Donation of BDT 0.50 million to Soccer Club, Feni.
• Donation to Uttara Section-13 Kallayan Samaity to arrange annual sports-2009.
• Donation to Zafar Imam Tennis Complex.
• Donation to the Institutions of Business Administration to arrange annual picnic-2009.
• Donation to BDT 0.10 million to Abahani Limited.

                                                    Year 2010

• Celebrating Bangla New Year-1417.
• MBL has donates BDT One Crore One Lac One thousand One hundred One for construction of the ‘Muktijuddho Jadughar’ at Agargaon, Dhaka.
• Donation to BKMEA for arranging Knit Exposition-2010.
• Donation to RAB for Celebrating Founding Anniversary.
• Donation to Muktijuddho Smriti Shangrakkhon Kendro.
• Donation to Ekusay Darshak Forum.
• Donation to BRACUniversity Debating Society.
• Donation to DU Fine Arts Institutions for arranging Jainul Mela.
• Donation to Political Science Alumni Association.
• Donation to Theater School, Bangladesh.
• Donation to Shaheed Fazlay Rabbi Foundation; etc.

Fostering the Traditional Games and Sports

• Donation to Bangladesh Olympic Association BDT 5 million for 11^th South Asian games.
• Donation to Soccer Club, Feni for practicing in Bangladesh League Football Tournament.
• Donation to BDT 0.23 million for arrangement of Barisal 1^st Division Football League.
• Donation to arranging International Junior Tennis Championship-2010.
• Donation to BDT 0.5 million to Mohammedan Sporting Club, Hokey Team.
• Donation to Bangladesh Chess Foundation for arranging National Chess Championship-2010.

Contribution to the Economy

The Bank has contributes to the economy by generating employment of 1303 in 2009 and over 1600 full time employees in 2010. In 2009 a total of 185 fresh graduates and 82 experienced bankers have joined with MBL family and in 2010 a total of 293 fresh graduates and 67 experience bankers are joined. In the intermediation process the Bank mobilized resources of BDT 58033.47 million from the surplus economic unit and deployed BDT 48295.55 million in 2009 and BDT 75629.14 million from the surplus economic unit and deployed BDT 66377.70 million in 2010. Following the table depicts the Bank’s performance in terms of deposit mobilization, its deployment, international business, inward foreign remittance and employments as at December 31 of 2010 and 2009:

                                                                                                                   (BDT in million)

Contribution to the National Exchequer

The Bank plays its responsibility to the Government of Bangladesh paying corporate tax regularly. Each year, 42.50% Tax is being paid to the National Exchequer from its operating profit. The Bank has made provision of BDT 1,010.59 million for corporate tax in 2010 against BDT 855.26 million in 2009.

Contribution to Agriculture

Bangladesh Bank has made it mandatory for all banks to provide loans to the Agriculture Sector. MBL gives advances to this sector through its rural branches. Moreover, MBL in collaboration with different NGOs gives agricultural loans to poor farmers.

Care for the Environment

The whole world is increasingly experiencing the devastating effects of environmental changes for green house effects due to global warming. The Bank is mindful of its responsibilities to the future generations by playing its part in promoting environmental awareness and in the conservation of the environment. The Bank takes environmental issues very cautiously while financing new projects. It finance only in those projects which are environment-friendly. Early detection of environmental risks is an integral part of credit appraisal system of the Bank. Ecological damage will sooner or later harm not only the society but also the Bank, in the form of loan losses or image problems. In this regard, the Bank participated by sending its officials in Foreign Trading Program on “Environmental Issues”. Issue of Green Banking is considering with utmost core in the Bank.