Bangladesh Bank (BB) Deputy Governor Ahmed Jamal has been relieved of his duties as the deputy governor of the human resource department.
The decision was announced in an office order issued by the central bank on Wednesday evening.
Earlier in the day, employees of the central bank staged a protest outside the 30-storey head office in the capital's Motijheel area.
A memorandum from the employees to the BB governor said the protest was taking place after Deputy Governor Jamal removed the employees from his office when they approached him with their demands.
The demands include expanding the ceiling for home loans, improving the state of the staff busses, establishing a canteen, and improving the quality of day-care centres.
The protesting bank employees then took to the streets after the deputy governor refused to speak to them.
Talking to The Business Standard, Md Sirajul Islam, BB spokesman, said, "Council leaders submitted a memorandum to the governor. However, the governor has not issued a directive to take any action on the matter yet."
Another BB official, unwilling to be named, said, "The council leader is an elected representative of the officials of Bangladesh Bank. Dehumanising them means one is treating all officers with disrespect."