KUALA LUMPUR, May 14 (Bernama) -- Public Bank Bhd, as part of its corporate social responsibility (CSR) programme, today contributed RM1.25 million to Universiti Tunku Abdul Rahman (UTAR) for the establishment of the Tan Sri Dr Teh Hong Piow Chair in banking and finance.

Managing director Tan Sri Tay Ah Lek, in his speech said education and research were the foundation by which the human race dealt critically with reality, and discovered how to participate in the transformation of the world.

"This joint effort between UTAR and Public Bank will result in thought provoking exchanges of expertise between industry and academia.The benefit can then be cascaded to the larger community of academic faculties,students and the banking industry," he said at the mock cheque presentation here today.

The contribution,to be spread over five years, will see the appointment of a distinguished professor to hold the chair and conduct applied research in the fields of banking and finance.

The chair,to be established at the Business and Finance Faculty of the UTAR Perak Campus in Kampar, will also promote education and training in related fields, while establishing a strong pool of experts consisting of both academia and industrial representatives to provide financial consultancy.

At the same event, Public Bank also sponsored RM30,000 in support of the Chartered Institute of Management Accountants (CIMA) World Conference 2009 as an official partner and RM60,000 to the National Award for Management Accounting (Nafma) 2009.