BAB asks member banks to contribute Tk25 lakh each for football tournament

The Bangladesh Association of Banks (BAB) has requested each of its 41 member banks to contribute Tk25 lakh for the "Sheikh Hasina Interbank Football Competition" which is scheduled to be inaugurated on 20 March, according to a letter sent by the BAB to the chairmen of private banks last week.

Authorities of some banks said that they informed the central bank about the BAB letter. Some banks have already deposited the money.

The contribution for the tournament would be made from the Corporate Social Responsibility (CSR) funds of the banks. 

According to the latest data of the central bank, banks spent 73% or Tk462 crore of their CSR fund on disaster management instead of the maximum 20%, which is a violation of the central bank rules.

As per the guidelines, 20% of CSR expenditure can be spent on other sectors, including disaster management, sports and culture. In the first six months of 2022, 61 state and private banks together spent Tk13.66 crore on sports and culture.

The letter said that the football tournament will be organised by BAB. The first meeting of the tournament committee was held on 6 March under the chairmanship of AKM Nurul Fazal Bulbul, vice president of Bangladesh Olympic Academy. The meeting decided that all the banks will send Tk25 lakh to the BAB through pay orders.

All banks will form teams with their officers and employees at all levels to participate in the competition. In addition to the crest, the winning team will be given Tk50 lakh, the runner-up Tk40 lakh and the team who secures the third position will be given Tk30 lakh. Besides, the best player, highest goal scorer and best player of the competition awards will be given, according to the letter.

In this regard, Exim Bank Managing Director Mohammed Haider Ali Miah told TBS that earlier banks had organized the tournament individually or with several banks.

"This is the first time that such a tournament is being organized by so many banks. It is our pleasure. Bankers are very enthusiastic about it," he added.

BAB has formed an advisory committee comprising the chairmen of the banks. This committee will finalise the schedule and inform about the next steps to be taken in this regard.

However, the chairmen and managing directors of many banks have expressed dissatisfaction over this decision of the BAB, saying that the banking sector is under liquidity stress and many banks are trying to collect deposits at interest rates of up to 8%. At such a time, the BAB has asked for money. In general, banks regularly provide grants for the development of sports.