Standard Bank Signs Memorandum of Understanding with BRAC to prevent Covid 19

Standard Bank Limited has recently signed a Memorandum of Understanding (MoU) with BRAC, the leading NGO in Bangladesh as well as in the world, with the aim of strengthening the health sector in 35 high risk districts of the country for coronavirus infection under the special CSR program of Bangladesh Bank.

Mr.Khondoker Rashed Maqsood, Managing Director & CEO of Standard Bank and Mr. Tushar Bhowmick, CFO of BRAC signed the MoU on behalf of their respective organizations. After signing, Mr. Maqsood said, “It is incumbent upon all of us to contribute from our respective positions to combat the Corona virus outbreak in this critical period of the country.”

Under the agreement, Standard Bank will finance the Community Fort project, an initiative taken by BRAC. Through this project, BRAC is providing necessary assistance for the development and immunization of health services including providing masks to 7.7 crore people in 35 high risk districts of the country.Additional Managing Director of Standard Bank Md. Touhidul Alam Khan and Head of IRM & SFD Mr. Bahar Mahmood were present at the signing ceremony.

Since the outbreak of the Coronavirus, Standard Bank has been working in a variety of humanitarian services including distributing free hand sanitizers to the general people, providing funds to the Bidyanondo Foundation, one of the country’s leading voluntary organizations to help the poor and disadvantaged etc. Currently Standard Bank is conducting relief operations through its branches in high infection prone areas of the country. In the first phase of this program, relief has been distributed through 23 branches and relief is being distributed through 20 more branches.