NEWS reports on Monday said that the government is planning to hand over the power to recruit and hire new employees of state owned commercial banks to Bangladesh Bank in the wake of rising allegations of corruption, nepotism and politicization in the existing recruitment processes. The move has been initiated following a recommendation by Bangladesh Bank to this effect to remove bottlenecks to recruiting quality manpower to increase the state-owned banks capacity to stand in competition with the private sector banks. This will be definitely a good move to reduce the gap in manpower standards compared with private banks. The central bank will get the authority to recruit, if the move is implemented, after more than five years into abolishing the bankers’ recruitment committee at the central bank. Observers familiar with bankers’ recruitment process of the state-owned commercial banks have welcomed the move. There is no secret that jobseekers know jobs in state-owned commercial banks are purchasable as selections are not held on a merit basis. But the result is that the poor quality and inefficient employees get the job in state-owned banks which drastically reduces their management standards and service efficiency and quality.
The move to restore Bangladesh Bank’s authority in recruitments of scheduled banks’ officers and employees is better late than never, and the Finance Ministry now should go ahead with the plan putting aside political pressure to block the move.
As per official disclosure since early 2010, the four state-owned commercial banks — Sonali, Janata, Agrani and Rupali — have hired around 30,000 new officials — both first class and second class, besides 15,000 more in six other specialized banks. But most of them are not qualified and efficient enough and this in turn has drastically reduced the credibility and competency rating of the state-owned commercial banks compared with the private sector commercial banks. Bangladesh Bank in a recent position paper to the Finance Ministry said the possibility of appointing qualified and efficient candidates in public sector banks are only getting slimmer amidst undesirable pressures on banks’ authorities for hiring less qualified nominees of powerful quarters. Only a change to the entire recruitment system may reverse the situation.
The central bank governor has therefore suggested the formation of a ‘recruitment authority’ to be overseen by competent Bangladesh Bank officials for recruiting new bank employees. Bankers have positively responded to the move saying if the central bank oversees the entire recruitment policy and processes and engages specialized institutions to do the recruitment, it will make a huge difference towards the recruitment of good bank officers. So any change in the recruitment system is expected to induct good bankers’ in state-owned banking by making the process transparent and restoring people’s confidence in the system. Most bankers believe the sooner it comes the better.
