BRPD Circular Letter No. 05: Regarding Salary of Entry Level Officials and Employees of Bank-Company

Banking Regulation and Policy Department Bangladesh Bank Head Office Dhaka.

BRPD Circular Letter No. - 05 18 Magh 1428 Date: ----------------------- 01 February 2022

Managing Director/Chief Executive Officer All Scheduled Banks operating in Bangladesh.

Dear Sir,

Subject: Regarding salary and allowances of entry-level officials and employees of bank-companies.

Attention is drawn to BRPD Circular No. 02 and BRPD Circular Letter No. 04 issued on January 20, 2022, and January 25, 2022, respectively, on the above subject.

2. Through serial 5 of BRPD Circular No. 02/2022, it was instructed that the newly determined salaries and allowances would be effective from March 01, 2022, and the instructions mentioned in this circular would remain in force until further instructions are provided.

3. Now, in consideration of the overall financial capacity of banks in the current COVID situation, the following guidelines are provided for the implementation of the new pay structure:

3.1. For entry-level officers appointed in the General Side of 4th generation scheduled banks licensed in 2013 and thereafter, Bangladesh Commerce Bank Ltd., and ICB Islamic Bank Ltd., the basic salary and allowances must be determined to provide a minimum of BDT 39,000/- as salary and allowances. For officers appointed in the Cash Side, a minimum of BDT 36,000/- as salary and allowances must be provided. Among these newly determined salaries and allowances, the basic salary will be payable from April 2022, and the remaining allowances will be payable from April 2023. However, the concerned bank authority may pay all salaries and allowances from April 2022 if they wish. Furthermore, after the new salaries and allowances come into effect, the salaries and allowances of officers previously working in the same position must be proportionally increased/adjusted through pay-fixation;

3.2. For entry-level officers working in the General Side of all other banks (excluding those mentioned in serial 3.1), the basic salary and allowances must be determined to provide a minimum of BDT 39,000/- as salary and allowances. For officers working in the Cash Side, a minimum of BDT 36,000/- as salary and allowances must be provided, which will be payable from April 2022. After the new salaries and allowances come into effect, the salaries and allowances of officers previously working in the same position must be proportionally increased/adjusted through pay-fixation;

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3.3. For probationary entry-level officers working in the General Side of the banks mentioned in serial 3.1, a consolidated salary of a minimum of BDT 28,000/- must be determined. For officers working in the Cash Side, a consolidated salary of a minimum of BDT 26,000/- must be determined. A minimum of 50% of the difference between the newly determined salary and the currently received consolidated salary will be payable from April 2022. The remaining 50% will be payable from April 2023. However, the concerned bank authority may pay all salaries and allowances from April 2022 if they wish. Additionally, for probationary officers of the General Side and Cash Side in the banks mentioned in serial 3.2, the newly determined consolidated salaries of BDT 28,000/- and BDT 26,000/- respectively will be payable from April 2022;

3.4. For employees appointed on a regular, contractual, or daily basis in positions such as messenger/cleaner/security guard/office assistant (support staff) or similar lowest-level positions as mentioned in serial 3.7 of Circular No. 02/2022, the minimum salary and allowances will be BDT 24,000/- for employees working in all divisional cities including Narayanganj and Gazipur cities, BDT 21,000/- for employees working in other district cities, and BDT 18,000/- for employees working in other upazilas/regions of the country;

3.5. For employees mentioned in serial 3.4 in the banks mentioned in serial 3.1, a minimum of 50% of the difference between the newly determined salary and the currently received consolidated salary will be payable from April 2022. The remaining 50% will be payable from April 2023. However, the concerned bank authority may pay all salaries and allowances from April 2022 if they wish. Furthermore, for all other banks, the newly determined salaries and allowances for the employees discussed will be payable from April 2022;

3.6. For employees hired through outsourcing, bank authorities may take necessary measures by contacting the relevant outsourcing company to align their salaries and allowances with those of the employees mentioned in serial 3.4.

4. Additionally, other instructions mentioned in BRPD Circular No. 02/2022 will remain unchanged.

Yours faithfully, (Md. Ali Akbar Faraji) General Manager Phone - 9530095