Bangladesh Bank is the central bank of Bangladesh and the regulator of the banking sector. It has recently issued a set of guidelines for implementing new salary scales and other allowances for entry-level bankers from April 2023. The new pay structure has been criticized by some experts as it discourages good performers and reduces profitability. In this article, we will provide some details about the Bangladesh Bank salary structure in 2023, including the job position-wise salary, benefits, allowances, pension, increment, and other information.
Bangladesh Bank Salary or Pay Scale Per Month
The following table shows the minimum salary for different job positions in Bangladesh Bank as of 2023:
|Job Position||Minimum Salary (in Tk)|
|General Branch Officer||39,000|
|Trainee General Officer||28,000|
|Trainee Cash Officer||26,000|
|Bank Relationship Manager||42,800|
|Bank Operations Officer||21,400|
The total salary may vary depending on the bank’s financial performance and the employee’s performance.
Benefits and Allowances
Some of the benefits and allowances that Bangladesh Bank employees enjoy are:
- Provident fund: A mandatory savings scheme where both the employer and the employee contribute a certain percentage of the basic salary every month. The accumulated amount can be withdrawn at the time of retirement or resignation.
- Gratuity: A lump sum payment given to the employee at the time of retirement or resignation based on the length of service and the last drawn basic salary.
- Pension: A monthly payment given to the retired employee based on the length of service and the last drawn basic salary.
- Leave encashment: A payment is given to the employee for the unused leaves at the time of retirement or resignation.
- Medical facilities: Free medical treatment for the employee and their dependents at designated hospitals or clinics. Reimbursement of medical expenses for treatment outside the designated facilities.
- Conveyance facilities: Free transport facilities for the employee to commute to and from work. Reimbursement of transport expenses for official duties outside the office premises.
- Loan facilities: Interest-free or subsidized loans for housing, car, education and other purposes.
- Insurance facilities: Life insurance and accidental insurance coverage for the employee and their dependents.
Increment and Promotion
The Bangladesh Bank has instructed banks not to consider performance in case of annual increments. Bangladesh Bank (bb) cannot set business targets for employees or deprive them of promotion even if they fail to achieve them. Banks cannot fire employees on the grounds of inefficiency or force them to resign.
The increment and promotion policy may vary depending on the bank’s internal rules and regulations. However, some general criteria that may be considered are:
- Length of service
- Educational Qualification
- Professional training
- Performance appraisal
- Vacancy availability
The Bangladesh Bank salary structure does not apply to nine fourth-generation and new banks along with Bangladesh Commerce Bank and ICB Islamic Bank. These banks have their own salary structure based on their financial condition and market competitiveness.
The average salary of a banker in Bangladesh is BDT 35,000 per month. However, this may not reflect the actual salary range as it is based on salaries collected from users.
The Bangladesh Bank salary structure has been opposed by some experts who argue that it conflicts with the motto of the private sector businesses. They claim that it will hamper the profitability, efficiency and competitiveness of the banking sector. They suggest that the central bank should focus on improving the regulatory framework and addressing the irregularities and loopholes of the banking sector instead of interfering with the salary structure.