Corporate Social Responsibility in Bangladesh: The Law and Practices

Abstract

Commitment of the business corporations to the society is of critical importance. In this article, the current scenario of corporate social responsibility (CSR), an emerging issue in the developing countries, is critically analyzed in reference with the existing laws and regulations in Bangladesh. This paper also examines the current status of CSR in readymade garment industries, the most important and vulnerable industrial sector in Bangladesh. It concludes that the major Bangladeshi laws related to corporate regulation and responsibility do not possess necessary features to develop a socially responsible corporate culture in Bangladesh. However, initiatives, from the local government and international community, have been taken to improve the situation.

Keywords: Corporate Social Responsibility, Corporate disclosures, Human Rights, Labour Act, Company Act, Readymade garment industries