Bank employees working during shutdown to get double basic salary

Employees of all banks will be paid double their monthly basic salary for being present at the workplace for 10 days during the general holidays declared by the government to curb the spread of coronavirus. 

Temporary or contractual officers of banks – those not separately being paid basic salaries – will get 65 percent of their gross salary as a special incentive allowance.

The central bank issued a circular in this regard on Sunday.

"Bank employees are risking their lives to keep our economy functional, so they need to get extra payment," said Md Serajul Islam, executive director and spokesperson of the Bangladesh Bank.

Employees who were present at the bank for less than 10 days during the holiday will get the special incentive allowance in proportion to the number of days they came to work, the circular says. 

However, for all employees – contractual or permanent – the monthly special incentive allowance will be a minimum of Tk30,000 and a maximum of Tk1 lakh. 

The circular also reads that the starting day will be counted from the first day of the general holidays, and 30 days will be considered as a month. The special incentive will be applicable till the government declares an end to the general holidays. 

Meanwhile, the executive committee of the Bangladesh Association of Banks (BAB) has declared that banks will bear all medical expenses if any employees become ill while carrying out their duties. This will be applicable for any sort of illness, including a Covid-19 infection. 

The decision came after a teleconference meeting held on Sunday focusing on the sacrifices bank officials are making to keep the country's economy active.

A press release added that banks will provide maximum compensation to the families of employees if they catch the virus.