The central bank has given concessions in various sectors to promote the banks to popularize cashless transactions. Some of the costs associated with expanding cashless operations can now be shown under the Corporate Social Responsibility (CSR) sector.

As a result, the expenditure in those sectors will not have to be taxed. In this regard, the central bank issued a circular on Thursday and sent it to the chief executives of the commercial banks.

It said banks will get some leeway to promote online transactions at the marginal level to achieve the target of 30 per cent of total transactions by 2025 and 100 per cent online or cashless by 2031

From July 1 to December, banks will be able to show the expenditure of certain sectors under the CSR sector to campaign for cashless transactions. Among these, the cost of some charges can be shown in the CSR sector during the Bangla QR code special campaign conducted by the banks under the guidance of the Payment Systems Department of Bangladesh Bank.

All campaigns related to cashless Bangladesh campaign, organizing awareness meetings, seminars and training programs, display of Bengali QR code transaction method at Qurbani pasur haat can be shown in the CSR sector. However, under the Cashless Bangladesh initiative, the travel allowance, accommodation, hotel bill etc. of the officials of the concerned organizations (expenses which are considered as travel allowance) cannot be displayed in the CSR sector.

Meanwhile, in another circular, the central bank has said that cash assistance will be provided to export-oriented manufacturing companies in the leather sector as well as to the export of leather products produced in their own factories. Earlier these entrepreneurs did not get cash assistance..