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| Sunday, 7 November 2004 |
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Business |  |
| News Business Features Editorial
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Social Resposibility Trust The Commercial Bank of Ceylon Ltd, one of the top private Banks in the country formally launched its Social Responsibility Trust recently. The Trust will initially be funded with a contribution of Rs 25 million from the Bank and thereafter by a contribution of up to one per cent of the Bank's post tax profits per annum. The Trust has been established for the purpose of fostering educational initiatives, improving community health services, promoting indigenous culture and arts, protecting the environment and to assist in preserving the country's cultural heritage.In the meantime the Bank has undertaken to rehabilitate three tanks ie- two in the Wayamba area and one in the Anuradhapura district. 'We want to work in collaboration with the government institutions involved in social development activities and farmer organisations to rehabilitate tanks supplying water for agricultural and consumption purposes', Commercial Bank Chairman Mahendra Amarasuriya told the media at the launch. "A profitable organisation must contribute to the development of society in which it operates and be conscious of its obligations to the community at all times. This is Commercial Bank ethos, Amarasuriya said. He said that the Commercial Bank Social Responsibility Trust will endeavour to facilitate positive change in local communities. "Through this Trust we would also seek to support community development programs in the country in achieving objectives in the areas of health, education,environment and other essential involvement" the Chairman said. He said that all shareholders of the Bank approved the establishment of the Trust unanimously at an Extraordinary General meeting, although some showed some reluctance at the begining. Managing Director of the Bank Amitha Gooneratne said that they wanted to mark the many accomplishments of the Bank with something that was meaningful to its shareholders and staff as well as the public. Rendering additional support to deserving social development projects, which seemed to be the most appropriate answer, the Bank's MD said. (HHS) |
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