Dhaka, Bangladesh (BBN)– Bangladesh Bank (BB) Governor Atiur Rahman has always emphasized deepening and broadening of social responsibility in corporate ethos and objectives of the scheduled banks and non bank financial institutions of the country visioning a humane central bank.
 

The financial sector was sufficiently enthused with this motivation and came forward to standby the victims of the Rana Plaza tragedy.
 

One year ago, this day of 24 April, “The Rana Plaza” building housing five apparel factories on the outskirts of Dhaka collapsed, killing around 1,130 people mostly women. The RMG sector which is the lifeline of Bangladesh economy was badly affected by this and suffered a huge reputational loss.
 

The central bank chief has asked all financial institutions to play a due role in any crisis period. His call led to a donation of nearly BDT 900 million possible on behalf of the banks to the Prime Minister’s Relief and Welfare Fund for the victims comprising of BDT 800 million from Bangladesh Association of Banks (BAB); BDT 40 million from the Association of Bankers Bangladesh (ABB); BDT 30 million from 28 non-bank financial institutions (NBFIs); BDT 3.1 million from 1 day salary of officials of NBFIs and nearly BDT 3.0 million from 1 day salary of officials of Bangladesh Bank. In addition, bankers working in Savar area and BB medical officials rushed to the spot with medical aids.
 

On November 09, 2013, the central bank honored 135 rescuers of Rana Plaza victims for their heroic contribution to the rescue of 2438 workers from the debris with certificates, prize bonds of BDT 5000 to each rescuer.
 

The BB governor also asked managing directors of commercial banks to create jobs for rescuers based on their merit.
 

The central bank has asked all banks to open accounts for apparel workers with an initial balance of BDT 100 and all commercial banks to spend 5.0 percent of their operating profit on corporate social responsibility to help develop the apparel sector.
 

Moreover, BB itself has created a fund of BDT 1.0 billion with the assistance of Japan International Cooperation Agency (JICA) to improve safety standards in the sector to help factory owners receive loan from commercial banks at a maximum of 10 percent interest for rebuilding and relocating factories and equipment purchase.
 

In addition, Bangladesh Bank has provided BDT 10 million from its own CSR fund to Fire Services and Civil Defense to enhance its capacity to conduct such rescue operations. 
 

Bangladesh Bank expects banks and all other financial institutions and the affluents of the country to extend their helping hands in national crises and the civil society to create awareness among the mass people to avoid such untold miseries of Rana Plaza victims.
 

The BB governor humbly remembers the memories of those workers and rescues who lost their lives on this day and prays for the peace of their souls. “Let’s all of us work together to avoid such tragedy”, he said in a statement on the first anniversary of Rana Plaza Tragedy.
 

BBN/SSR/AD-24Apr14-12:13 pm (BST)