Speakers at the seminar discussed various issues of CSR practices and challenges in Bangladesh. BEI President Farooq Sobhan presided over the session.

Terming the CSR a business reality, they said earlier CSR was just a jargon to many people. But, now the CSR is being acknowledged as the business contribution towards sustainable development.

At the seminar, Mamun Rashid, chief executive officer of Citibank NA, Bangladesh, the banking arm of US banking giant Citigroup, presented a paper on CSR policies and practices at Citigroup's Bangladesh chapter while Yasmeen Murshed, chairperson of Scholastica Group, presented another paper on that at Scholastica.

Presenting the paper, Rashid, also the Citigroup Country Officer-Bangladesh, said CSR in most cases is interpreted as a part of charity and companies conduct CSR by just donating money. "But, CSR lays emphasis on environment, human rights, anti-corruption, money laundering, labour relations, gender, equality and diversity, consumer protection, community development, economic growth and millennium development goals," he said, adding that competitive advantage can be created through CSR approaches.

He also highlighted the activities of Citigroup Foundation that reflect the foundation's corporate social responsibility besides focusing on three major areas such as financial education, educating the next generation and building communities and enterprises.

Rashid said Citigroup is working with the downtrodden and disadvantaged women in Bangladesh.

Presenting her paper, Yasmeen said Scholastica has a multi-tiered programme of social responsibility both within their educational programme and organisational structure.

Scholastica starts CSR with their students by encouraging them to engage themselves with under-privilaged children in various activities, she said.

In his opening remarks, Sobhan said the BEI serves as a platform to uphold and promote international CSR practices and to mould them in the local context.