Mehdi Musharraf Bhuiyan

Mercantile Bank Limited, one of the leading private commercial bank of the country, is planning to establish a hospital from where, the bank authority says, "poor and underprivileged people will be able to receive medi-care services" at low cost.

This venture will be a part of the bank's 'Corporate Social Responsibility' (CSR), which entails the promotion of social services by business houses.

The private banks have long experience in carrying out such social commitments. According to statistics of MBL, the bank in the year 2008 spent a total of Tk. 15.115 million on CSR activities.

"MBL is committed to the welfare of the society through these activities which extends to every aspect of national development including education, health, disaster management and sports," Monindra Kumar Nath, Deputy Managing Director of the Bank said.

One of the greatest accomplishments for Mercantile Bank Limited of late was its sole sponsorship of Amar Ekushey Granthamela-2009 held earlier this year for which it donated a total of Tk 3.2 million.

Earlier, MBL sponsored Dhaka International Trade Fair-2008 alongwith other business houses. The bank granted Tk 2.1 million for the construction of the fair's grand entrance.

Major CSR initiatives of the MBL also include construction of two permanent Murals of Bir Uttam M A Rob and Bhasa Sainik Justice Abdur Rahim in the city at a cost of Tk 900,000.

Each year the Bank donates 1.0 percent of its operating profit or Tk 40 lakh (whichever is higher) to its CSR arm - the Mercantile Bank Foundation. Accordingly, the total amount of donation to the Foundation in 2008 stood at Tk. 10.0 million.

"The foundation, founded in the year 2000, strives to preserve and promote cultural heritage and support artistic expression," the bank authority said.

In upholding this spirit, Mercantile Bank Foundation assists research activities on Bengali literature through Bangla Academy. It also supports the writers and publishers through purchasing their books and distributing these to different educational institutions on the occasion of national and historically important days.

Every year, Mercantile Bank Foundation also provides awards to the eminent personalities of the country for their contribution in specific areas. Beginning in the year 2002, the annual 'Mercantile Bank Foundation Award' has so far honoured a number of renowned personalities in the country for their contribution to Bengali language and literature, education and culture, research on liberation war, economy and research on economy, commerce and industry, medicine, science and technology, journalism and sports.