Corporate Social Responsibility Practices of Meghna Bank PLC

Abstract

The concept of corporate social responsibility, or CSR, is no longer exclusive to industrialized nations; emerging nations like Bangladesh are increasingly paying more attention to it. In order to maintain economic viability and long-term sustainability in the cutthroat marketplace, company managers in Bangladesh have come to believe more strongly in recent years than ever before that they must run their companies in a socially responsible manner. Corporate social responsibility has grown inescapable in recent decades, and banks are not an exception in this regard. The scope of banks' CSR initiatives has significantly expanded. Since the 1950s, corporate social responsibility (CSR) has been the subject of much theoretical and empirical research. It is currently becoming more and more important, particularly in light of the globalization age and the effects of the ensuing global financial crisis. This report will scrutinize the practices of corporate social responsibility (CSR) by Meghna bank in Bangladesh and to assess the need to improve in corporate social responsibility by such organizations. The purpose of the study is to observe the framework of corporate social responsibility areas and contribution to those areas by the private and state-owned banks of Bangladesh. This study found that the contribution amount by Meghna banks to corporate social responsibility activities is very insignificant in proportion to their profit amount. This study suggests that a proper guideline by Government regarding corporate social responsibility contribution, involvement of large corporation in corporate social responsibility activities and mandating corporate social responsibility disclosures in the annual report will fulfill the intended goals of the corporate organizations and also ensure a successful and sustainable development of the society.