Against the backdrop of cuts in salaries and allowances of the country’s bankers, Bangladesh Bank has asked the banks not to have austerity measures in coronavirus situation when a bunch of demoralised bankers will prove futile in process of economic recovery.
The central bank on Thursday night issued a set of directives on all chief executive officers to this end.
According to the circular, in this Covid-19 situation banking staffers and officers need to have good morale as their necessity is undeniable to keep the ailing economy afloat. Without their proactive participation, recovery of economy and attainment of Gross Domestic Product (GDP) is not possible. Under these circumstances, banks are asked to take those measures which will inspire their workforce so that they can implement the government-declared stimulus package of over Tk 1 lakh crore.
A policymaker of the central bank said, “In future, bankers will have to shoulder the responsibility as a frontline fighter in the battle against the bizarre virus. The coronavirus situation highly needs the bankers whose parks and benefits should see spike rather than decrease. But without increasing their facilities, their employers are slashing their salaries, allowances and in some cases firing them from jobs. As BB can’t direct the banks on slimming their salaries directly, it has asked the banks indirectly. The central bank is sifting the options on how to dissuade the banks from taking austerity measures like slashing salaries of employees."
Meanwhile, it is learnt that EXIM Bank, The City Bank, Al Arafah Islami Bank and AB Bank have already slashed the salaries of their employees.
Not all of the banks are following the aforementioned quartet, some banks are rather eyeing a reduction in office rent, vehicles for the officials, costs of entertainment, stationery, board meeting etc. NCC and NRB banks have already written to landlords to downsize the rents.
