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Bangladesh banks in the eye of the regulator as large number of employees quit

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Bangladesh banks: Why are employees quitting?

Why are bankers in Bangladesh quitting? The country’s Central Bank- Bangladesh Bank has launched an investigation.

Dhaka Tribune, which quoted unnamed sources in Bangladesh Bank, said that about 3,313 employees of six private banks have resigned between January 1, 2020, and August 9 this year.

The newspaper said that of the total figure, 3,070 resigned voluntarily, even though they had not reached their retirement age. Another 201 people were removed, 30 officers were sacked and 12 others were laid off.

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Bangladesh Bank, which found the matter unusual, held a meeting with the bankers. However, it is not satisfied with the bankers’ response and will continue investigations.

“It is also learned that the meeting held at Bangladesh Bank discussed the issue of forcible dismissal of bank employees from the banks,” Dhaka Tribune said, adding that the Central Bank said it was inhumane to sack employees amidst the pandemic.

“Many workers could not find jobs elsewhere due to their high salaries. The issue also created instability in the banking sector,” it noted.

The Association of Bankers, Bangladesh (ABB)—an organisation of managing directors of banks, however said that a few banks laid off some employees “in compliance with the rules.”

The association has said that “some bankers have voluntarily resigned following the rules” as their performance was not up to the mark.