Khadija Akter

and 6 more

Executive SummaryWhile it is critical for a business to earn a profit, it is also critical for it to operate in an ethical and sustainable manner, which is becoming increasingly crucial as our younger generations become more aware of the detrimental influence we have on the environment.This is where CSR (Corporate Social Responsibility) enters the picture. CSR, or corporate social responsibility, is defined as a company’s endeavour to enhance society and contribute to its long-term growth.It is concerned with the environmental and social effects that a company has on the society in which it works. Bank of Maldives management claims that they are committed to continuing to operate as a sustainable and responsible business, striving to make a positive difference for their customers, communities, and employees while achieving sustainability through their operations and maintaining strong risk management and governance. The organization’s aim to be a responsible and sustainable corporation drives the corporate social responsibility (CSR) strategy.BML adopts a holistic approach to CSR, embedding responsibility into the company’s culture and operations. The BML CSR Committee, which is made up of senior executives from several divisions, oversees the CSR projects. They actively collaborate with all sectors and demographics of the Maldivian community and contribute to national and societal development in the Maldives as one of the largest corporations in the Maldives.The goal of corporate social responsibility is to improve the long-term viability of fundamental company operations. Its dedication to being a sustainable and responsible organisation is shown in their policies, practices, and Code of Conduct. It aspires to build its business responsibly, in ways that benefit society, and to operate in an ecologically, socially, and financially responsible manner.We’ve looked at the theoretical understanding, relevance, and effect of CSR, as well as the governance of BML, in this paper. Following a description of the benefits and obstacles, recommendations for policies and procedures were made.