As the Finance Division declined, the Bank and Financial Institutions Division will now execute the pay scale for the four state-owned commercial banks through the banks’ boards “within a week.”
Finance Secretary Fazle Kabir told the Dhaka Tribune on Sunday that the Bank and Financial Institutions Division would execute the pay scale through the boards of the four banks concerned.
Meanwhile, the pay scale for Bangladesh Bank was sent to the law ministry for vetting. After the ministry sends it back with its approval, it will be sent for the prime minister’s nod.
The Finance Division declined to implement the pay scale for the four state-owned commercial banks as it found no law under which a common pay scale for these banks could be materialised, said official sources.
Officials at the Finance Division said Banking Secretary Dr Aslam Alam had held a meeting with the finance secretary at the Secretariat on Sunday and returned the pay scale of the four state-owned commercial banks.
Fazle Kabir said the Banking Division had appointed the boards of directors of the Sonali, Janata, Agrani and Rupali banks to execute the matter although the Finance Division owned those banks.
He expressed hope that the new pay scale of the Bangladesh Bank would be executed “within a week.”
Finance Minister AMA Muhith on Sunday said the issuance of the circulars for the pay scales for the Bangladesh Bank and the four state-owned banks would be served within a few days.
In Bangladesh, pay scales of government offices are executed under the Services (Reorganisation and Conditions) Act 1975. But the state-owned banks have remained outside the purview of the act since they were made public limited companies in 2007.
Currently, the four banks have roughly 90,000 officers and employees, while the central bank employs about 6,000.
