Regulatory Alerts2021-09-16
Added
BRPD Circular No. 21: Arbitrary Termination of Bank Employees
The Banking Policy and Regulation Department of Bangladesh Bank prohibits the arbitrary termination of bank employees without specific and proven allegations, particularly citing performance or target-related excuses during the COVID-19 pandemic. Banks are required to reinstate employees dismissed or forced to resign between April 1, 2020, and September 15, 2021, upon application, and must submit detailed data on such terminations to the department by September 30, 2021. These instructions are effective immediately under Section 45 of the Bank Company Act, 1991.
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