The Bangladesh Association of Banks (BAB), a forum of private banks' directors, has taken up an initiative to raise Tk 160 crore for the Prime Minister's Relief and Welfare Fund.

The BAB circulated a letter to all private banks last week saying the 30 old banks will donate Tk 5 crore each while the remaining 10 new banks Tk 1 crore each.

The amount will be given from the banks' corporate social responsibility (CSR) funds, chief executives of a number of banks said.

Prime Minister Sheikh Hasina yesterday invited over the banks' directors and chief executive officers along with their spouses for tea at her Gono Bhaban residence in the capital.

BAB Chairman Nazrul Islam Mazumder expressed gratitude for the prime minister's continued support for them.

The banks spent Tk 744 crore from their CSR funds in 2017, Tk 496 crore in 2016 and Tk 527 crore in 2015.

They had provided Tk 85 crore to the prime minister in August last year as support for flood victims.