Bangladesh Bank (BB) has directed all banks to stop the process of pay cuts of their employees and urged them to be proactive during this difficult time in the country.
BB sent a directive to the chief executives of all banks on Thursday (June 18) in this regard.
According to the directive, the role of bank officials and employees to keep the country’s economy moving in this difficult situation is crucial. Without their active participation, the country's economy will not be able to turn around and achieve the desired GDP target.
In this situation, the bank officials and employees are encouraged to take all necessary initiatives so that they could play a leading role in the implementation of the loan incentive package by Bangladesh Bank.
Exim Bank, The City Bank, Al-Arafah Islami Bank and AB Bank have already reduced salaries for their employees, citing a decline in the banks' profits due to the coronavirus.
However, many other banks have taken the initiative to cut operational expenses and special benefits without having to reduce salaries. In particular, some banks have reduced the cost of space rent, officials' cars and entertainment, stationery, daily tea and breakfast, board meeting and other expenses.
