Al Amin :
The owners of the commercial banks claimed that the recent circular issued by the Bangladesh Bank for fixing minimum wage of the employees of private banks is unrealistic and illogical.
The central bank can’t fix salaries of the employees a private company. For doing this, there is management and directory board. As a regulatory authority, the tasks of the Bangladesh Bank are to protect the interest of depositors and shareholders and ensuring good governance, they said.
The new minimum wage is also a one-sided and largely inconsistent with the government pay structure, they added.
If the circular is implemented, many existing branches in marginal areas will be closed and this will be hinder the urbanization of village programme, employment in rural area, creation of new entrepreneurs and development of rural economy, they said.
There are both public and private banks in the country. But the circular has been issued only for private banks. It is violation of the Constitution, they said.
“The law has been made only for a particular sector. This contradicts the Constitution. Because the private banks will lag behind in the competition with the government banks in implementing this policy,” said Dr Ahsan H Mansur, Executive Director of the Policy Research Institute (PRI).
Before issuance of the circular, the central bank should have discussed the issue with the private bank authorities, Mansur told The New Nation on Saturday.
“For increasing salaries, the operational expenses of the banks will go up and it will not be possible to disburse loans at nine per cent interest rate,” he said.
Bangladesh Bank (BB) has fixed minimum salary for the entry level officials of banks for encouraging the young generation to take banking as a career and play role for the economic advancement of the country.
Entry level salary of assistant officer, trainee assistant officer, trainee assistant cash officer or equivalent officials would be minimum Taka 28,000 during probation period and their total salary including basic be at least Taka 39,000 monthly after the end of probation period, as per a BB circular issued on Thursday.
For implementing the minimum salary, banks will have to increase salary of other officials who have been working at the same positions, proportionately, the circular added.
The minimum starting salary and allowances for messenger, cleaner, security guard, support staff or similar rank or any other lowest post will be Taka 24,000.
Citing these issues, Bangladesh Bank suggested banks rationalising the difference between the salaries of top officials below the position of chief executive officer with that of the lowest grades.
Syed Mahbubur Rahman, Managing Director of the Mutual Trust Bank Ltd, said, “The circular had been issued at the eleventh hour on Thursday. We haven’t yet discussed the issue.”
We will discuss the financial impact of the circular, and then we shall take up the issue, said Mahbub, the immediate past president of the Association of Bankers’ Bangladesh (ABB).
