Banks seek time to implement entry-level pay

The Bangladesh Association of Banks (BAB) and Association of Bankers, Bangladesh (ABB) yesterday requested Bangladesh Bank to extend the deadline for implementing the new rate of entry-level salaries recently fixed by the banking regulator for private banks.

Leaders of the BAB, an organisation of private bank sponsors, and the ABB, a platform of managing directors of lenders, made the call in a meeting with Bangladesh Bank Governor Fazle Kabir at the central bank headquarters in Dhaka.

Md Nazrul Islam Mazumder, chairman of the BAB, told journalists that they had informed the banking regulator that it would be difficult for the lenders to implement the BB instructions by March 1.

"We have to discuss the issue further with the central bank, after which the BAB (and ABB) may ask the BB to reconsider the notice," he said.

The BAB has not completely understood the circular as of yet as "there are some gaps" in it, he said.

But Mazumder did not clarify what the "gaps" were in the notice released by the central bank on January 20.

He, however, said Bangladesh Bank has assured the BAB that it would take the issue into consideration with utmost importance.

Md Serajul Islam, spokesperson and an executive director of the central bank, confirmed that the BAB had requested the BB to extend the deadline.

The BB has assured the organisations that it would give thought to whether the deadline can be extended, he said.

In the notice, the BB stipulated that the entry-level salary of assistant officer, trainee assistant officer, trainee assistant cash officer or officials at an equivalent level would be a minimum Tk 28,000 during the probation period.

The total salary of an entry-level official, including basic pay, will have to be at least Tk 39,000 a month after the end of the probation period, it added.

Up until now, there has been no uniform salary structure for entry-level officials.

The central bank also mentioned that the opening salary of support staff, messengers, cleaners, security guards or equivalent positions, should be at least Tk 24,000.

As per the latest central bank notice, no bank will be allowed to sack or ask any employee to resign or postpone promotions over failures to attain deposit mobilisation targets.

In yesterday's meeting, senior officials of the central bank, chairmen of different banks and leaders of the ABB were also present.