Bangladesh Bank sets minimum wage of bank employees

The Bangladesh Bank has fixed the minimum monthly salaries the private banks can pay their employees.

Trainee officers must be paid at least Tk 28,000 during entry. For other employees, the minimum salary will be Tk 24,000.

The central bank said it set the minimum salaries to encourage skilled people to take banking as a career. The newly fixed minimum salaries will be effective on Mar 1.

In a notice on Thursday, the central bank said an officer’s salary will be minimum Tk 39,000 after the internship. They include assistant officers, trainee assistant officers, trainee assistant cash officers and officers of other equivalent posts.

It instructed the banks to raise the salaries of those working in these posts now but are being paid less.

The Bangladesh Bank also asked the banks to keep the pay gap between top executives and other employees at a rational level.

It said the banks cannot set deposit targets for raising employees’ salaries, or sack someone for their failure to achieve any other target.

People working as messengers, cleaners, security guards, office assistants or similar posts must be paid at least Tk 24,000.

The payment of outsourced workers will also have to be consistent.

The orders will not be applicable to mobile banking or agent banking staffers.