Dhaka, Bangladesh (BBN) – The Global Alliance for Banking on Values (GABV), a network of the world’s leading sustainable banks, is going to adopt common global parameters among its member-banks for ensuring sustainability.
The decision was taken at the GABV annual meeting 2013 held in Berlin on March 14-15, a senior member said in Dhaka.
“We’re now discussing issues including creation of employment particularly for women, returns on assets and improving the level of efficiency for inclusion as common global parameters of the GABV,” Syed Mahbubur Rahman, managing director and chief executive officer (CEO) of the BRAC Bank Limited, was quoted by the Financial Express (FE), a local newspaper, as saying.
The BRAC Bank CEO took part in the annual meeting that called for more transparency, sustainability and diversity to upgrade the banking system and address the global financial crisis.
“Sustainable banks are much better than mainstream ones,” Mr. Rahman said, adding that sustainable banking focuses on meeting real human needs – jobs, education, housing, environmental security – through the banking system in an economically sustainable manner.
“We’re tracking the use of money after providing loan to our clients to know the social impact of lending,” he said while replying to a query relating to use of borrowed money.
“3P philosophy of People, Planet and Profit adopted by BRAC Bank is a way forward to be more transparent, sustainable and diverse. SME banking makes us more sustainable that significantly contributes to real economy,” he noted.
The GABV is also thinking to involve its member banks’ employees for pushing the theory of sustainable banking through effective communication.
“We want to inculcate culture of sustainable banking among the employees of our member-banks,” the BRAC CEO said. The GABV members have already appointed ‘value ambassadors’ aiming to expedite the effective communication, he added.
A meeting will be held in Denmark in June this year in this connection, according to Mr. Rahman.
BRAC Bank is the only member from South Asia to the global forum.
BRAC Bank is one of country’s fastest growing banks. With 155 branches, more than 300 ATMs, 397 SME Unit Offices and over 8,000 human resources, BRAC Bank operation now cuts across all segments and services in financial industry.
With more than 1.2 Million customers, the Bank has already proved to be the largest SME Financier in just 11 years of its operation in Bangladesh and continues to broaden its horizon into retail, corporate, SME, probashi and other arenas of banking.
In 2010, BRAC Bank has been recognized as Asia’s most Sustainable Bank in Emerging Markets by the Financial Times and IFC. The Bank is the country’s first founder member of Global Alliance for Banking on Values (GABV) – a network of the world’ leading sustainable banks.
The GABV was set up in 2009. It now has 22 members on six continents. Members are bound by a shared commitment to find global solutions to international problems and to promote a positive, viable future for the financial system based on the principles of sustainable banking.
Members include microfinance banks in emerging markets, credit unions, community banks and sustainable banks financing social, environmental and cultural enterprises.
BBN/SSR/AD-26Mar13-1:55 pm (BST)