BB sets Tk39k minimum salary for entry-level private bankers

The Bangladesh Bank has fixed a minimum wage of Tk39,000 for private bank officials subject to the completion of their probation period. 

The central bank issued a notification in this regard on Thursday which will come into effect from next March.

It also stated that no banker can be fired if they do not achieve the target set by the bank or on the pretext of incompetence.

According to the notification, the minimum monthly wage for trainee assistant officers (general and cash) will be Tk28,000 during their probation period.

Also, office assistants, including security guards, cleaners, and messengers, will get Tk24,000 as the minimum wage.

The wages of those who work as the third party of the banks should be set taking the wages of office assistants into consideration, read the notification.

However, these directives will not be applicable to agent banking employees.

The circular further said that the wage-allowance difference between the chief executive officer or CEO of the bank and that of the lowest ranking officer-employee should be determined logically.

Besides, the target of deposit collection cannot be fixed as a condition for permanent and annual salary increases.

The central bank also observed that some banks are arbitrarily fixing the wages and allowances of entry-level officials. The amount is very low compared to the existing salaries and allowances of other high-level officials of the same bank.

Such an unusual gap between the wage and allowances of upper and lower-level officers and employees is by no means acceptable, read the notification.

Earlier, the governor of Bangladesh Bank (BB) Fazle Kabir instructed the managing directors of banks to maintain a standard salary structure at the entry-level post of the banks.

He made the instruction verbally at the banker's meeting on Tuesday, urging the review of freshers' salaries.

The BB governor claimed that entry-level job holders for banks were paid very little wages.

Before that, the central bank had taken different initiatives to protect the rights of the bankers.
Last September, the BB asked all banks to reappoint their employees who were laid off or forced to resign during the Covid-19 period.

Afterward, some banks took the initiative to rehire the laid-off workers.

Some of the terminated officials complained to the central bank that they were laid off and forced to resign without any specific and evidence-based complaints.