BCCI's philanthropic and development activities included Bangladesh.
In Bangladesh extended beyond conventional charitable donations. They included the establishment of a BCCI Foundation in Bangladesh, support for humanitarian relief, participation in health and rural-development programmes, and the creation of a development-oriented commercial bank in partnership with the Government of Bangladesh.
A particularly useful surviving historical document is:
The document provides contemporary background to the Foundation and its developmental objectives. It also records the thinking that led to the establishment of a specialised bank intended to combine commercial banking with support for the development of small-scale industries in Bangladesh.
This resulted in the establishment of the Bank of Small Industries and Commerce Bangladesh Ltd (BASIC Bank) as a joint venture between the BCC Foundation and the Government of Bangladesh. The Foundation initially held a 70 per cent interest and the Government of Bangladesh 30 per cent. BASIC Bank commenced operations in January 1989, with a particular emphasis on financing small-scale industry and supporting economic development.
The Foundation formed part of a broader programme of social and developmental activity in Bangladesh. The available BCCI records refer to support for areas including education, health and assistance to disadvantaged communities. BCCI Bangladesh also made contributions towards flood and cyclone relief, with individual members of the BCCI family making additional donations on some occasions.
Another important initiative involved Global 2000, associated with former United States President Jimmy Carter. BCCI and its Foundation in Bangladesh participated in plans for integrated health and rural-development projects intended to address health, nutrition, agriculture and poverty. A Memorandum of Understanding was signed involving the Government of Bangladesh, Global 2000 and the BCCI Foundation Bangladesh, with the Foundation providing financial support and Global 2000 contributing technical expertise.
After the closure of BCCI
Following BCCI's worldwide closure in July 1991, the BCC Foundation in Bangladesh ceased to function in its previous form. BASIC Bank, however, continued in operation. The Government of Bangladesh subsequently acquired the Foundation's 70 per cent interest and, from 4 June 1992, BASIC became wholly owned by the Government of Bangladesh. It continues to operate as a state-owned commercial bank.
The Bangladesh experience is therefore significant because it illustrates how BCCI's philanthropic philosophy could extend beyond charitable giving into institution-building and longer-term economic development initiatives.
Further details concerning the BCCI Foundation Bangladesh, BASIC Bank, the Global 2000 projects, humanitarian relief activities and BCCI's wider contribution in the country are covered, or will be developed, in the separate Bangladesh section of this website
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