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Green-Banking Practices in Bangladesh-A Scope to Make Banking Green

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  • Md. Ariful Islam
  • Kh. Fahim Hossain
  • Mahmudul Hasan Siddiqui
  • Salahuddin Yousuf

Abstract

In Bangladesh, it is not blamed to pollute environment compare with other countries. Amount of CO2 emission is also very low comparing with other countries. But we are the victims of this CO2 emission or environmental pollution. So, to survive ourselves we should incorporate this green banking for the sake of our people. As early as possible the banking community should commence its activities. Government should take necessary steps to enforce existing environmental regulations and formulate appropriate rules to ensure "Pollute Pays Principle" in the country. The Central bank of Bangladesh can play a pro-active role in formulating a national level "Green Credit Policy" and creating a sound incentive structure for performing ER practices by banks. Much more is expected from the civil society organizations in the form of awareness development, research activities and business monitoring. "Consumer Awareness" is the area where Bangladesh needs remarkable change, because green banking is largely driven by consumer behavior and consumption patterns. For rapid change among consumers and business, a collective endeavor of government, media, NGOs, and banks will be required. An isolated effort by banking communities may not bring much. The success of the proposed framework would depend upon the pro-active role of all stakeholders and a sound incentive structure.

Suggested Citation

  • Md. Ariful Islam & Kh. Fahim Hossain & Mahmudul Hasan Siddiqui & Salahuddin Yousuf, 2014. "Green-Banking Practices in Bangladesh-A Scope to Make Banking Green," International Finance and Banking, Macrothink Institute, vol. 1(1), pages 1-38, June.
  • Handle: RePEc:mth:ifb888:v:1:y:2014:i:1:p:1-38
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    Keywords

    Green Banking; Financial Institution; CO2; Pollution; Environment; Stakeholder;

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