Corporate Social Responsibility
For some years MCB dedicated an amount equivalent to 1% of pre-tax profits to Corporate Social Responsibility (CSR) activities, a ratio that it increased in 2008 to 2% of book profit derived during the preceding year. In April 2008 the bank launched an ‘Appel à Projets’, inviting non-governmental organisations (NGOs) and individuals supported by NGOs to submit projects for consideration for funding. During the fiscal year ending June 2009, the bank spent Rs 30 million on 79 projects. Then in September 2010 MCB formally launched the MCB Forward Foundation, which would develop and support sustainable initiatives for the social, environmental and economic well-being of the community.
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Famous quotes containing the words corporate and/or social:
“If when a businessman speaks of minority employment, or air pollution, or poverty, he speaks in the language of a certified public accountant analyzing a corporate balance sheet, who is to know that he understands the human problems behind the statistical ones? If the businessman would stop talking like a computer printout or a page from the corporate annual report, other people would stop thinking he had a cash register for a heart. It is as simple as that—but that isn’t simple.”
—Louis B. Lundborg (1906–1981)
“No society has been able to abolish human sadness, no political system can deliver us from the pain of living, from our fear of death, our thirst for the absolute. It is the human condition that directs the social condition, not vice versa.”
—Eugène Ionesco (b. 1912)