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A reportOn
Corporate Social Responsibility
of
Jamuna Bank Limited
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A Report on CSR of Jamuna Bank Ltd.
Course Name:Business and Society
Course code: 312
Submitted to:Dr. Md. Morshed Hasan Khan
Associate Professor
Department of MarketingUniversity of Dhaka
Submitted by:
Abyssinian MerchantsBBA, 16th batch, sec-BDepartment of Marketing
University of Dhaka
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Date of submission:April 26, 2012
Abyssinian Merchants
Group Profile:
Serial Name Roll
01 Tahsib Ahmed 08
02 Md. Roman Al Mamon 60
03 Shaikh Md. Rasel 82
04 Shuvashish Dey 102
05 Md. Mokaram Hossin 134
06 Hasan Mahmud 142
07 Md. Asaduzzaman 162
08 Md. Murshedul Alam 172
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Md. Morshed Hasan Khan
Associate Professor
Department of Marketing
University of Dhaka
Dear Sir,
Subject: Submission of a report.
With due regards we state that we are very thankful to you as you assigned usthis report on Corporate social responsibility . It is a great opportunity for us
to acquire theoretical and practical knowledge about Business and Society. We
have tried our best to gather what we believe to be the most complete
information available. Your kind acceptance and any type of appreciation would
surely inspire us. We would always be available and ready to explain further any
of the contexts whenever asked.
Sincerely yours,Members of theAbyssinian Merchants
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Acknowledgements
Any comprehensive work such as report making owe credit to multitude of
people. Certainly, we should acknowledge the contributions of the pioneers in
the field of management, especially those whose teachings have become a part of
our thinking.
First we commit ourselves grateful to almighty Allah who gives us power and
knowledge to complete the report. Then we acknowledge our honorable course
teacherMd. Morshed Hasan Khan;who has opened the door of knowledge in
front of us. Through the whole semester he has broaden our outlook in Insurance
and related sector.
Next we acknowledge the Writer of the book who has helped a lot by writing a
core book on Business and Society.
-Keith Davis
Jone W Newstrom, PH.D
-Post, Lawrence & Weber
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Without the direct and indirect support of these dear people this report would not
exist.
Contents:
No: Chapter Name Pages
1 Introducing CSR 14-15
2 Philosophy about CSR 16-19
3 Arguments for and against CSR 20-23
4CSR Practices in Bangladesh 24-27
5 Overview of JBL 28-34
6 Mission, Vision and Values 35
7 CSR in JBL 36
8 CSR trend of JBL 37-38
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9 Recommendation 39-42
EXECUTIVE SUMMARY
In our report, we have discussed basically with CSR activities of Jamuna
Bank Ltd. Corporate Social Responsibility (CSR) is understood to
be the way firms integrate social, environmental and economic
concerns into their values, culture, decision making, strategy
and operations in a transparent and accountable manner, and
thereby establish better practices within the firm, create wealth
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and improve society.CSR means that a corporation should beheld accountable for any of its action that affects people, their
communities, and their environment. It implies that negative
business on people and society should be acknowledged and
corrected if at all possible.A business has many responsibilities:
Economic, legal and social. Social responsibility requires
companies to balance the benefits to be gain against the costs
of achieving those benefits.
Introduction
As we are the student of department of Marketing, Corporate Social
Responsibility (CSR) is understood to be the way firms integrate social,
environmental and economic concerns into their values, culture, decision
making, strategy and operations in a transparent and accountable manner, and
thereby establish better practices within the firm, create wealth and improve
society.
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Origin:
As a marketing student it is necessary to know different tactics and policies
available to handle different CSR activities in an organization. Our Business and
Society course teacher Mr. Morshed Hasan Khan assigned us to organize a
presentation program and prepare a full report on this topic. Our teacher thought
that it would be very helpful for us to know the terms of Business and society
very deeply. Group presentation also would be helpful to know
CSR.Presentation also will affect our efficiency in our future job which will
make us a good executive and a handsome entrepreneur.The nature and scope ofcorporate social responsibility has changed over time. The concept of CSR is a
relatively new onethe phrase has only been in wide use since the 1960s. But,
while the economic, legal, ethical, and discretionary expectations placed on
organizations may differ, it is probably accurate to say that all societies at all
points in time have had some degree of expectation that organizations would act
responsibly, by some definition. In the eighteenth century the great economist
and philosopher Adam Smith expressed the traditional or classical economic
model of business. In essence, this model suggested that the needs and desires of
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society could best be met by the unfettered interaction of individuals and
organizations in the marketplace. By acting in a self-interested manner,
individuals would produce and deliver the goods and services that would earn
them a profit, but also meet the needs of others. The viewpoint expressed by
Adam Smith over 200 years
ago still forms the basis for free-market economies in the twenty-first century.
However, even Smith recognized that the free market did not always perform
perfectly and he stated that marketplace participants must act honestly and justly
toward each other if the ideals of the free market are to be achieved. In the
century after Adam Smith, the Industrial Revolution contributed to radical
change, especially in Europe and the United States. Many of the principles
espoused by Smith were borne out as the introduction of new technologies
allowed for more efficient production of goods and services. Millions of people
obtained jobs that paid more than they had ever made before and the standard of
living greatly improved. Large organizations developed and acquired great
power, and their founders and owners became some of the richest and most
powerful men in the world. In the late nineteenth century many of these
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individuals believed in and practiced a philosophy that came to be called "Social
Darwinism," which, in simple form, is the idea that the principles of natural
selection and survival of the fittest are applicable to business and social policy.
This type of philosophy justified cutthroat, even brutal, competitive strategies
and did not allow for much concern about the impact of the successful
corporation on employees, the community, or the larger society. Thus, although
many of the great tycoons of the late nineteenth century were among the greatest
philanthropists of all time, their giving was done as individuals, not as
representatives of their companies. Indeed, at the same time that many of them
were giving away millions of dollars of their own money, the companies that
made them rich were practicing business methods that, by today's standards at
least, were exploitative of workers. Around the beginning of the twentieth
century a backlash against the large corporations began to gain momentum. Big
business was criticized as being too powerful and for practicing antisocial and
anticompetitive practices. Laws and regulations, such as the Sherman Antitrust
Act, were enacted to rein in the large corporations and to protect employees,
consumers, and society at large. An associated movement sometimes called the
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"social gospel," advocated greater attention to the working class and the poor.
The labor movement also called for greater social responsiveness on the part of
business. Between 1900 and 1960 the business world gradually began to accept
additional responsibilities other than making a profit and obeying the law.
Objectives
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Every report has some objectives. There are one broad objective and some
specific objectives in their respective field. Our report on CSR has some
specific objectives and a broad objective.
Broad objective
To know the social responsibility activities of corporate organizations.
Specific objectives:
-The nature and types of CSR
-CSR activities in Bangladesh
-Different types of CSR activities
-Corporate social behavior
-Organizational responsibility towards society.
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Methodology
We prepared one third of our report from secondary sources. We collected all the
required information from different reference books, journal and related papers.
All the members of our group worked hard in seminar for preparing this report.
We also followed our text book for collecting some necessary information. The
sheets provided by our course teacher also helped a lot for preparing report.
Limitations
We face some specific problem while preparing this report. These problems
created some barriers to go ahead. Those specific problems are
1. We didnt get enough time to prepare this report, thats why we prepared the
report in a hurry.
2. We also had some financial problems to prepare the report.
3. We didnt get all the required materials for enhancing the report.
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Chapter-01
Introducing CSR
Corporate Social Responsibility (CSR), also known as Corporate Responsibility,
Corporate Citizenship, Responsible Business, Corporate Responsibility, or
Social Action Program, Sustainable Responsible Business (SRB), or Corporate
Social Performance. It is a form of corporate self-regulation integrated into a
business model. There is an illusion/myth that Corporate Social Responsibility
(CSR) is just another name for Philanthropy. But, CSR is not just philanthropy.
Its more than that. A corporate citizens job will not end by just donating some
money and cleaning our hands that any rich person with compassion can do. The
major responsibility includes giving a helping hand to the under privileged and
disadvantaged in all possible ways. Corporate Social Responsibility is a concept
whereby companies integrate social and environmental concerns into their
business operations and in their interaction with their stakeholders (employees,
customers, shareholders, investors, local communities, government), on a
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voluntary basis. CSR demands that businesses manage the economic, social and
environmental impacts of their operations to maximize the benefits and minimize
the downsides. Key CSR issues include governance, environmental
management, stakeholder engagement, labor standards, employee and
community relations, social equity, responsible sourcing and human rights. It
Has become a multi-billion dollar public relations specialty in the business
world.
This report titled CSR Basics covers the elementary concepts of Corporate
Social Responsibility. It begins from Definition and ends till
Recommendation through some of its real life applications. The definition part
is enriched with seven different definitions which will make the readers concept
clearer than before on this topic. There is a visual display of the definition as
well to make it better understand. The Origin part is basically the history part
where actually the reason and situation of its beginning time has been described
rather using lots of dates and years there. Besides Policies, Benefits and
Challenges, there is
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an interesting part titled Controversies. It contains three points-counterpoints to
show the arguments and counter-arguments on CSR. Globally, the bank sector
has came up with some significant CSR ideas; that has been discussed under a
fresh topic.
Chapter-02
Philosophy about CSR
Corporate Social Responsibility (CSR) is becoming an increasingly important
initiative of businesses both nationally and internationally. There exists no
universally accepted definition of CSR. As per WikiPedia, Ideally, CSR policy
would function as a built-in, self-regulating mechanism whereby business would
monitor and ensure its support to law, ethical standards, and international norms.
Consequently, business would embrace responsibility for the impact of its
activities on the environment, consumers, employees, communities, stakeholders
and all other members of the public sphere. Furthermore, CSR-focused
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businesses would proactively promote the public interest by encouraging
community growth and development, and voluntarily eliminating practices that
harm the public sphere, regardless of legality. Essentially, CSR is the deliberate
inclusion of public interest into corporate decision-making, and the honoring of a
triple bottom line: People, Planet, Profit. The definition of CSR by the World
Business Council for Sustainable Development offers an acceptable definition.
They state that "corporate social responsibility is the continuing commitment by
business to behave ethically and contribute to economic development while
improving the quality of life of the workforce and their families as well as of the
local community and society at large (CSR: Meeting Changing Expectations,
1999, Page 6)." Lotus Holdings defines CSR as, The integration of the interests
of the stakeholders all those affected by a companys conduct into the
companys business policies and actions, with a focus on the social,
environmental, and financial success of a company, the so-called triple bottom-
line with the goal being to positively impact society while achieving business
success. The reference site Source Watch defines, Corporate social
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responsibility (CSR) is commonly described by its promoters as aligning a
company's activities with the social,
economic and environmental expectations of its stakeholders. Business
Blogger Sunil B. says, CSR is about authority and accountability, duty and
delivery, risk and reputation, transparency and trust, obligation and opportunity,
but ultimately its about Sustainability. Its about how the world works for the
better.
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According to consultancy firm STENUM GmbH, Corporate Social
Responsibility (CSR) pertains to a companys societal responsibility. The CSR
concept takes the idea of sustainability and combines its three pillars economy,
ecology and society with concrete corporate action. CSR is a central economic
factor and a sustainable competition factor, which dictates the future viability of
a company. Corporate Social Responsibility encompasses all activities of the
company in the fields of social, ethical and ecological responsibility, with which
sustainable development will be implemented in the daily life of the business.
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Chapter-03
Arguments for and against CSR
Arguments for social responsibility
As bank is a corporate member of our society so it has some obligations
towards the society.
Government imposes certain regulation on doing banking activities so
discourages such government regulation bank should practices social
responsibility.
As banks main purpose is to make profit so making long term profit, bank
should do social responsibility.
For responding stakeholders changing demand it is required to fulfill their
needs so in this case social responsibility activities may be done.
For correcting some social problems bank can play an important role by
doing social responsibility.
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For balancing the corporate power with responsibility bank should do the
corporate social responsibility.
Arguments against social responsibility
Bank is owned by their shareholders - money spent on CSR
by managers is theft of the rightful property of the owners.
The leading banks who report on their social responsibility
are basket cases the most effective bank leaders don't
waste time with this stuff.
Our bank is too busy surviving hard times to do this. We
can't afford to take our eye off the ball - we have to focus
on core business.
It's the responsibility of the politicians to deal with all this
stuff. It's not our role to get involved.
It has no time for this. It has got to get out and sell more
service to make its profit line.
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Some related controversies-
The "economic" argument against CSR is perhaps most closely associated with
the
American economist Milton Friedman, who has argued that the primary
responsibility of business is to make a profit for its owners, although while
complying with the law. According to this view, the self-interested actions of
millions of participants in free markets will, from an effective perspective, lead
to positive outcomes for society. If the operation of the free market cannot solve
a social problem, it becomes the responsibility of government, not business, to
address the issue.
Here the major arguments for and against corporate social responsibility are
shown below.
Issue 1
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For: The rise of the modern corporation created and continues to create many
social problems. Therefore, the corporate world should assume responsibility for
addressing these problems.
Against: Taking on social and moral issues is not economically feasible.
Corporations should focus on earning a profit for their shareholders and leave
social issues to others.
Issue 2
For: In the long run, it is in corporations' best interest to assume social
responsibilities. It will increase the chances that they will have a future and
reduce the chances of increased governmental regulation.
Against: Assuming social responsibilities places those corporations doing so at a
competitive disadvantage relative to those who do not.
Issue 3
For: Large corporations have huge reserves of human and financial capital. They
should devote at least some of their resources to addressing social issues.
Against: Those who are most capable should address social issues. Those in the
corporate world are not equipped to deal with social problems.
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Chapter-04
CSR practices in Bangladesh
As of 2002, TERI-Europe contracted Centre for Policy Dialogue (CPD) to
conduct an initial survey of the state of Corporate Responsibility (CR) in
Bangladesh. The survey covered experiences and perceptions of workers,
company executives and public representatives. Some of the conclusions of the
survey were that the companies appear stronger on policy rather than on practice,
around 2/3rd of the companies have policies on sustainable development, the
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aspects requiring attention are corporate governance, AIDS, human rights and
international labor standards. Some of the conclusions of the report were that
external forces are the main drivers for CR in Bangladesh, need for educating
business leaders in CR
as sustainable and profitable business models, CR for the environment is of low
concern and there is scope for partnership between the corporate sector and civil
society. A study of CSR in Bangladesh provides a bird's eye view of how CSR
engagements are being structured and whether CSR initiatives are home grown
within companies or being partnered with other specialized entities, private
consulting companies, NGOs, research organizations or the government. While
exploring the market conditions of corporations from various sectors in the field
of corporate responsibility, the possibility of partnership brokering and
partnerships in place were also explored among the corporations in Bangladesh.
Partnerships are a way forward for increasingly complex global interactions and
for taking ideas forward and being implemented as a methodology in the
Western world. Fourteen companies from various sectors were directly
approached and questions on Community relations, Strategic Partnership
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Perspectives, Stakeholder Engagement, etc was asked. For the purpose
confidentiality the names of the visited companies are not given in this article.
The August 2007 issue of The Executive Times also provided solid secondary
information on CSR activities performed by some companies (16 companies)
that was published on corporate outlook of corporate heads or concerned
departmental heads. The primary and secondary information were indicative that
some companies equated CSR with Corporate Giving or Philanthropy. These
entities were not considering at sustaining an enterprise by giving responsibly;
they were focusing on giving to the community without thinking ahead of
sustaining the community efforts. This was the fundamental shift in reasoning
between the local professionals and testimonials read at corporate websites and
literature of global corporations overseas. On the Bangladeshi part, the concept
of CSR was not particularly framed in the context of seeing to it that the money
being given as corporate donations had been part of strategic road map of the
organization. CSR was done by certain companies in Bangladesh with a
particular cause in mind and its interaction with the brand of that company (an
example of cause related branding). Additionally, the executives of these
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organizations purported to make themselves believe that they are responsible
corporate citizens for their contribution to the welfare of society without truly
understanding the percentage of their contribution to the welfare of society. Only
a handful of these companies were truly engaged in CSR and partnerships for
sustainability. At KDS accessories, they had noted of taking a comprehensive
plan to design their CSR initiative in the coming year. At the same token, BRAC
Bank and Marico Bangladesh Ltd. seemed to show tokenism in their CSR
activities. The comments made by these companies point to the fact that they are
either not aware of CSR or that CSR is a concept not akin to them or they lightly
subscribe to
the overarching goals of CSR and its social ramifications. Some companies like
Rahimafrooz talked about working with Bangladesh Enterprise Institute (BEI) to
sponsor some costs of their CSR center. Through this project Rahimafrooz has
attempted to sustain the benefits of CSR. Similarly, Prime Bank and South East
Bank discussed of being active in corporate philanthropy and had contributed to
activities that are part and parcel of CSR. Chevron had also practiced the idea of
sustaining CSR by funding the expansion project of Bibiyana Clinic and had
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setup two Smiling Sun Clinics, ensuring that the clinic's sustainability. Similarly
DHL
Express, Bangladesh was working to support UCEP, which is a large NGO
(Non-Government Organization) in Bangladesh working for the welfare of
children. Expeditors had programs of corporate giving and they also work
through the Rotary Club for various awareness programs. The companies that
had no information volunteered on CSR were Asian Paints, BASF, Commercial
Bank, PRAN-RFL Group, GETCO, TNT Express-Bangladesh in this published
report in The Executive Times.
Chapter-05
Overview of Jamuna Bank Ltd
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Jamuna Bank Limited came out in reality through the initiatives of some
dynamic people, who were from different sectors of commerce, trade and
industries. It was registered in 2001 as a commercial bank under the Companies
Act, 1994. The bank started its banking activities on 03 June, 2001.
JBL from the very inception set a mission to build up itself as a unique
commercial bank through difference in outlook, and providing comprehensive
and innovative services to the valued customers. And ultimate goal is attaining
mutually a sustainable higher level in financial measure. As a new generation
private commercial bank of the country, JBL provides all conventional services
to the clients. In addition it presents a good number of schemes and products in
deposit and credit forms.
Jamuna Bank Limited (JBL) is a Banking Company registered under the
Companies Act, 1994 with its Head Office at Printers Building (2nd & 8th
Floor), 5, Rajuk Avenue, Dhaka-1000. The Bank started its operation from 3rd
June 2001.
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The sponsors of Jamuna Bank Limited are highly successful leading
entrepreneurs of the country having stakes in different segments of the national
economy. They are eminent industrialist & businessmen having wide business
reputation at home & abroad.
Jamuna Bank Limited is a highly capitalized new generation Bank with an
Authorized Capital and Paid-up Capital of Tk.1600.00 million and Tk.390.00
million respectively. The Paid-up Capital has been raised to 429.00 million and
the total equity of the bank stands at 725.00 million as on June 30, 2005.
Currently the Bank has 29 (twenty three) branches 13 in Dhaka, 1 in Gazipur, 5
in Chittagong , 3 in Sylhet 1 in Bogra, 2 in Naogaon, 1 in Munshigang and 1 in
Narayanganj and 2 in Rajshahi. Six branches will be opened at commercially important
places during the year 2008.
The Bank undertakes all types of banking transactions to support the
development of trade and commerce of the country. JBL's services are also
available for the entrepreneurs to set up new ventures and BMRE of industrial
units.
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Jamuna Bank Ltd., the only Bengali named new generation private commercial
bank was established by a group of winning local entrepreneurs conceiving an
idea of creating a model banking institution with different outlook to offer the
valued customers, a comprehensive range of financial services and innovative
products for sustainable mutual growth and prosperity. The sponsors are reputed
personalities in the filed of trade, commerce and industries.
The Bank is being managed and operated by a group of highly educated and
professional team with diversified experience in finance and banking. The
present Managing Director of the Bank is a forward looking senior banker
having decades of experiences and multi- discipline knowledge at home &
abroad. The Management of the bank constantly focuses on understanding and
anticipating customers needs. The scenario of banking business is changing day
by day, so the bank's responsibility is to device strategy and new products to
cope with the changing environment. Jamuna Bank Ltd. has already achieved
tremendous progress within only two years. The bank has already ranked as one
of the quality service providers & is known for its reputation.
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Jamuna Bank offers different types of Corporate and Personal Banking Services
involving all segments of the society within the purview of rules and regulations
laid down by the Central Bank and other regulatory authorities. The Bank
undertakes all types of banking transaction to support the development of trade
and commerce of the country.
Deposit Schemes:
Jamuna Bank presents lucrative deposit schemes for its clients. These are mostly
for limited income people who want to save some money for future. The
schemes are namely:
Marriage Deposit Scheme
Lakhpati Deposit
Millionaire Deposit
Kotipati Deposit
Education Deposit
Monthly Benefit Scheme (MBS)
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Double/Triple Growth Deposit
Monthly Savings Scheme (MSS)
For opening a deposit scheme you only need to maintain a savings bank account
at any branch of Jamuna Bank Ltd. Such a scheme in this bank would help you
to overcome difficult hurdles of life much easily.
Credit Schemes
Major Field of Credit Banking of JBL may be termed as Corporate Banking.
Under this head it concentrates on the following:
Agro processing Industry
Export oriented / Import substitute Industry
Telecommunication
Information Technology
Real Estate & Construction
Wholesale Trade
Transport, Hotel & Restaurant
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Nonbank financial institution
Loan Syndication
Project Finance- Investment Banking
Lease Finance- Hire Purchase-International Banking
Export Finance
Import Finance
Export oriented and Import substitute industries include Textile
Spinning/Dyeing/Printing, Garments and Knitwear, Food & Allied, Paper &
Paper Products, Engineering & Steel Mills, and Chemicals. So it may be said
that JBL is rightly addressing the deserving sectors of nations economy.
Agro processing and other fields of the banks interest are also very much
correct decision for fund input. So if you are a deserving candidate from one of
the said categories, you may approach JBL for credit.
Except the above sectors Jamuna Bank provides credit in the head, Shop Finance
scheme. In fact this scheme addresses the SMEs of the country. Small business
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men, retailers and other self-employed people are eligible for loan under the
scheme. And those who are defined as SMEs are the main target for this
program. If you represent a SME or any of the above category, you may have a
loan from JBL for running and expanding your business.
Other Products & Services:
JBL serves nonresident Bangladeshis (NRB) through its different services. It
maintains a wide network of correspondent banks and Money Exchange Houses
all over the world for sending home bound remittances through proper channel.
NRBs are allowed to open foreign currency account s in their names. They may
also have fixed deposit receipt accounts in F/C and many other schemes for
investment at JBL.
This third generation private bank issues Debit and Credit cards for its
customers. The cards are of local and international categories. About 1500 ATM
booths (own and shared) serve the card holders round the clock.
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Jamuna Bank Ltd. always tries to provide its clients a better and world class
service through modern technology. So it didnt make any delay to introduce any
branch banking through its 67 branches all over the country. All of its customers
are entitled to avail this facility without spending a furthing
Chapter-06
Mission, Vision and values
Mission:The bank is committed for satisfying diverse need of its customers
through an array of products at a competitive price by using appropriate
technology and providing timely service so that a sustainable growth, reasonable
return and contribution the development of the country can be ensured with a
motivated and professional workforce.
Vision: To become a leading banking institution and to play significant role in
the development of the country.
Values: The bank does its best to manage and operate it with a consistent set of
business principle and core values. First and foremost, this means always trying
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to do the right thing. It means continuing to focus on maintaining a fortress
balance sheet, strong capital ratios and strong credit ratings. It means being
willing to sacrifice short-term growth for long term opportunity. During these
times, this approach is vital. The bank will continue to provide creditworthy
businesses of all
Chapter-07
CSR of JBL
Jamuna Bank Ltd. Is one of the 3rd generation banks having its birth on june
2001. Jamuna bank Limited being the youngest among the private sector
commercial banks of the country earned mentionable recognition in playing
important role in the field of Corporate Social Responsibility- with the object to
contribute to the cause of the destitute/ unprivileged class of the society and for
socio-economic development of the country, as a part of corporate Social
Responsibilities. The J Jamuna Bank Foundation was established in the year
2007.
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As Jamuna Banks non-profit subsidiary, Jamuna Bank Foundation has a unique
role to play, proving leadership and making a difference for the CSR in the
country. For the Bank it is just about meeting some of the basic needs of
unprivileged class of society. The Bank has always focused on providing and
making need based services available for priority target population. Now, the
Bank is expanding its field of vision to include the challenging realities of the
countrys huge unmet needs and its understanding of relationships among
economic, natural and human systems. Getting these basic needs also requires
the Bqank to think the usual boundaries of its work.
Chapter-08
CSR trend of JBL
Since the outset of the Jamuna Bank Foundation it undertook good number of
CSR activities. The following CSR activities are done by JBF annually:
Scholarship for the unprivileged & disabled but meritorious students.
Blood donation by the employees of the bank.
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Free eye camps.
Relief for the disaster affected people.
Distribution of blankets among the cold prone destitute.
Sewing machine training centers for assisting unprivileged women of the
society.
Launching anti-drug movement by arranging seminar, rally, publishing
stickers and established an anti-drug care center.
Old home for neglected old aged persons.
Arranging art competition for the children
Holding seminar on Holy Ramadan & Qirat competition.
Model village at Thakurgaon
Donation of BDT 50.00 lac to the Muktijuddho Jadughor
Medical primary school for the slum dwellers at rayerbazer, Dhaka.
Donation to Bangladesh Olypic Association BDT 50.00 lac for
participating in the 11th SA games.
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Finalcial assistance every month BDT 25000/- to Mr. Binod Bihari
Chowdury, a great freedom fighter who fought against British ruke and
whio was co-fighter of Shaheed Masterda Surja Sen which will continue
for the rest of the time of his life.
Gift of a new car to the cricketer
Besides the above mentioned CSR activities Jamuna Bank Foundation is also
aiming at establishing a Medical college and Hospital for the unprivileged but
meritorious students facilitating them with all required educational needs.
Chapter-9
Recommendation to Gain momentum
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1. CSR, corporate giving, philanthropy, community giving, etc. must be clearly
defined and invite corporations to build more innovative CSR practice within
their
organizations.
2. CSR has strategic and financial value have to be properly communicated by
valuemapping the benefits of CSR. The economic impact of CSR has to be
clearly defined with solid case studies.
3. CSR education has to be ongoing to keep aware corporate Bangladesh.
4. A strategic interplay between CSR and publicity is apparent and in circulation
globally, but turning CSR into strategic advantage is not noticed (apart from a
few
companies) in Bangladesh. Companies may design their CSR partnership
opportunities keeping these views in place.
5. CSR case studies may be developed by companies for wider dissemination. A
set of case studies may be commissioned on CSR to champion the initiative of
building CSR mindset among the corporates.
6. CSR has a tertiary level focus in Bangladesh and, therefore, more advocacy
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campaigns may be rolled-out citing real stories of CSR impacting the bottom-
line
profitability of a company, globally or locally.
7. Corporations may retain CSR/partnership learning aide as they had nebulous
idea of how CSR practices can offer value to both society and the organization.
8. Build CSR practices in the SME sector
9. Corporations need to actively develop CSR departments so as to support CSR
partnerships. Some pressure may be accorded by the government, NGOs, trade
bodies, trade facilitative organizations and research bodies to bring in some
fundamental changes in the way the corporations of Bangladesh run.
10. Legal enforceability may also push the companies to follow good-business
practice; from an ethical point of view, the companies that are highly profitable
in Bangladesh or producing products/service that are risky like tobacco must be
sanctioned to have a decent budget for CSR partnership implementations.
11. Tax rebate for donation/investment in CSR partnership may be introduced by
the government
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12. Corporations themselves may organize CSR/partnership trainings and invite
key personnel to participate, giving a full breadth of sharing CSR concepts and
CSR engagements for adoption and implementation
13. Corporates may support in solving some persistent social issues that may
ultimately buy-in the commitment to champion other partnership projects.
14. Corporations may introduce CSR newsletters to potential clients, slowly
building their interests.
15. CSR education at the college and university level may be introduced so that
future employees of the corporate understand the benefits of CSR and may work
as a catalyst for the top management to introduce CSR programs.
16. Promote CSR through local trade bodies and people's organization.
17. CSR ideas and partnering trainings need to be organized either at the NGO,
Government or the private level so as to build the knowledge base to promote
effective CSR and partnerships.
18. Myth that corporate giving is CSR has to be broken through information
sharing.
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19. Build countrywide CSR awareness and send signal to the corporate sector
that CSR offers social and commercial benefit to the companies implementing
CSR programs.
Conclusion
Finally, some suggest that businesses should assume social responsibilities
because they are among the few private entities that have the resources to do so.
The corporate world has some of the brightest minds in the world, and it
possesses tremendous financial resources. (Wal-Mart, for example, has annual
revenues that exceed the annual GNP of some countries). Thus, businesses
should utilize some of their human and financial capital in order to "make the
world a better place." Lets end with a quote Niall Fitzerald, Former CEO,
Unilever: Corporate social responsibility is a hard-edged business decision. Not
because it is a nice thing to do or because people are forcing us to do it
because it is good for our business.
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Modern time is the golden time of business. Now a day the idea of banking is
also developed and a huge number of private C.B is competing for business. So
definitely its a matter of thing that, how to established an idea-with different
technique. Jamuna Bank Limited is a Third -generation bank in Bangladesh &
has a strong position in the todays competitive market. Jamuna Bank Limited is
continuously upgrading if self with a view to be competitive and to remain the
leader of the banking industry.
This is a well-established statement that practical situations always differ from
theoretical explanation. During my service life with JBL almost all the desks
have been observed. And I have found theory deviates from the practice more or
less though three months are not enough time to find out all the discrepancy
between theory and practice. Among all experiences some noticeable
observations are described below:
The officers were mostly courteous, friendly in nature and eager to help despite
the tremendous workload. As a private bank JBL is trying its best to extend
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their service to the public.A very working environment was remaining in the
JBL, Khatungonj Branch. During my long relationship with Khatungonj Branch,
it is found that the Khatungonj Branch provides all kinds of commercial banking
services to its customers. Foreign Exchange department rendering all the
services related to international trade and remittance. Loans and advances
analyses credit proposal and disburse credit if proposal is sound. General
banking is engaged in cash receipt and payment, cheque clearing, local
remittance etc.,It is well established that theory without practice is blind. During
the practical orientation I have observed the function of General Banking,
Foreign Exchange, and Credit department of JBL, which help me a lot to be a
professional banker in future.
Out of the above discussion a conclusion can be drawn after saying that, the
present customer dealing procedure is quite well at this moment. The
computerized transaction makes the system efficient and effective.
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References
--Business & Society (Post, Lawrence & Weber)
-- Business & Society (Keith Davis John W Newstrom)
--Annual Report of Jamuna Bank Limited
--Different Journal, Newspapers and Publications.
--Guidelines for Foreign Exchange (Forex) Transactions.
--Reading Material on Credit Management
--Web page of the Bank.