Azerbaijani Central Bank can be example in introducing corporate social responsibility in banks
Azerbaijan, Baku, June 9 / Trend /
The Central Bank of Azerbaijan (CBA) jointly with Eurasia Partnership Foundation (EPF), organized a training on corporate social responsibility (CSR) for the employees of the Azerbaijani banks, responsible for business development, marketing and public relations, as well as authorized in the sphere of CSR, CBA said.
Deputy Chairman of the CBA Aftandil Babayev told about the relevance of the training, the CSR role in improving confidence in the banking system, and about the fact that such projects are a major factor in increasing capital of the social trust not only in the Central Bank, but the entire banking system.
He said the main factor in successful opposition of the Azerbaijani economy, the banking sector to the global financial crisis is the fact that there is particular confidence in the country's economic policy, including monetary and exchange rate policies.
The first expert in Turkey on CSR and member of the Board of the Public Union "CSR Turkey" Ayshegul Hatay gave extensive information about CSR and its importance for the banks and on the international practice.
"This step by the Central Bank must be an example for the central banks of other countries. The CBA has already organized the work that central banks of many countries are able to conduct only during five years. It is commendable that the CBA started promoting CSR in banking sector. Throughout the world banking sector has played a significant role in the dissemination of CSR," Hatay said.
During the workshop participants exchanged views on the following topics: the distinction of corporate social responsibility of sustainable development, corporate citizenship, work with various interested sides, voluntary codes and standards of CSR, transparency and reporting on CSR, best practices of CSR in Turkey and the world ("Akbank", "Citibank", HSBC, "The Coorperative Bank", "Barclays", "The Standard Bank"), the best experience in the world and comparative analysis.
One of the main directions of the communication strategy, recently adopted by the Central Bank of the country in addition to implementing projects on CSR, is promotion of a culture of CSR in the banking environment and call for investing in development of the community where it operates.