SEBON Allows Capital Market Firms to Use CSR Funds for Disaster Relief
Summary
SEBON has allowed capital market institutions to use their CSR funds to contribute to the Prime Minister’s Disaster Relief Fund after the devastating Bhotekoshi River flood in Rasuwa. The board says the donations will be counted as institutional social responsibility expenditure for now.
Key Points
- SEBON has permitted capital market-related institutions to use CSR funds for the Prime Minister’s Disaster Relief Fund.
- The decision comes after the Bhotekoshi River flood in Rasuwa caused major loss of life and property in several affected districts.
- Licensed institutions including the Central Depository Company, merchant bankers, credit rating agencies, securities brokers and dealers can contribute from their CSR allocations.
- The contributions will temporarily be recognized as institutional social responsibility expenditure.
