Bangladesh Banks separate pay scale gets law ministry’s clearance Asif Showkat Kallol The government can implement it through issuance of a circular The separate pay scale for Bangladesh Bank employees can be implemented under the existing legal framework and no amendment of law will be required, said finance division officials quoting law ministry. The government can implement it through issuance of a circular. Besides, the employees of four state-owned banks will get new salaries from the current month. “We have received affirmative response from the law ministry to executive BB pay scale without change to law,” said Dr Aslam Alam, secretary to bank and financial institutions division. After the receiving law ministry’s suggestion, Finance Minister AMA Muhith already gave permission to implement it along with that of the four state-owned commercial banks. Financial Institutions Division will send letters to the state-owned commercial banks to execute the pay scale from March, 2014. However, the government is yet to decide when Bangladesh Bank’s pay scale will be implemented. Dr Aslam Alam hinted it might take some time as some administrative procedures are involved with it. Bangladesh Bank and four-state owned banks have a total of 61,000 staff whose salaries will increase by 70% after implementation of the pay scales. Bangladesh Bank has 4,958 staff while Sonali Bank 23,363, Janata Bank 15,146, Agrani Bank 13,558 and Rupali Bank 4,293. The separate pay scales for the banks got stuck due to legal complexities. The pay scale for any government office is implemented under the Services (Reorganisation and Conditions) Act, 1975. The four state-owned banks can introduce separate pay structures through their board approvals as they have been corporatised. But Bangladesh Bank cannot do that, and there was possibility to amend the law to introduce separate pay structure for its staff. Prime Minister Sheikh Hasina signed the recommendations of the secretaries’ committee on separate pay scale on November 12 last year. Under the new 11-grade pay scale which will replace the existing 20-grade pay structure, the basic salary for those in the lowest grade will be Tk6,000 and for the highest grade will be Tk55,000. SHARING A- A+ 112 0 Google +2 2 565 0 Print Friendly and PDF Banks TAGS Banker pay scale Bangladesh Bank Last updated on March 7, 2014 at 01:25 For a better read, try DhakaTribune! 112 0 Google +2 2 565 0 Print Friendly and PDF Popular Latest March 7, 2014 Bangladesh Banks separate pay scale gets law ministry’s clearance March 7, 2014 India or Pakistan? March 6, 2014 Empty stands for Bangladesh game March 7, 2014 A hidden feminist agenda? March 6, 2014 No solace for Bangladesh - See more at: dhakatribune/banks/2014/mar/07/bangladesh-banks-separate-pay-scale-gets-law-ministrys-clearance#sthash.x7DOHYEF.dpuf
Posted on: Fri, 07 Mar 2014 14:26:54 +0000
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