After being seized for 7 hours the Chairman, MD and other Board members came out of the Bank’s head office at around 11 pm on Sunday (Dec. 29).
The Board of Directors was at the board meeting of the bank's head office at the Sena Kalyan Bhavan in the capital.
Employees of the bank had started protesting outside the Chairman's office in the afternoon to cancel the revised pay structure circular. At this time, they took position outside the meeting room.
Basic Bank Chairman Alauddin A. Majid, Managing Director. Rafiqul Alam, along with three other directors of the board, were blocked while coming out.
Bank officials and employees said they would not be allowed to leave unless the pay circular was invalidated.
They claim that we have taken jobs in our own capacity due to the salary structure of the bank. Now it is unreasonable to cut salaries. The bank has suffered losses due to inefficiency, irregularities and corruption of the Board. Why do we take responsibility for the failure of the Board? We do not agree. Therefore, the employees demanded of revoke of circular immediately that reduced the salary.
They gave slogans demanding abolishing of wrong circular to reduce pay structure. Then, after being blocked for 7 hours, the meeting was held with the protesting delegation at 10 pm.
At the same time, the police took the position in front of the Sena Kalyan Bhavan at 10 pm. The delegation was assured that their problems and demands would be discussed in the next Board meeting. The protesting employees continued to give slogans without obeying. Later, around 9 pm, the police of Motijheel Police Station reached the spot to guard the bank.
Earlier, the Basic Bank Authority had issued directives for determining the pay structure in line with the other state-owned banks. This would reduce the salaries of the employees of the bank. Due to this, there has been discontent among the employees of Basic Bank. Since then, Basic Bank employees have been protesting regularly.
It was reported that the authorities issued the circular last Sunday (December 22), in line with other state-owned banks. From that day onward it was directed to take effect.
According to the circular, the existing additional pay structure has become impossible for the bank to bear due to the bank's continuous loss for the last seven years. This forced the bank authority to revise the existing pay structure and other benefits of the bank.
It is to be noted that in last August, the finance minister AHM Mustafa Kamal directed the board of directors of BASIC bank and concerned senior officials to reduce the salaries of the employees working in the bank. He said to the Basic bank officials that day, "You have incurred loss to the tune of Taka 354 crore. There are about 2100 manpower for only 72 branches. What is the work of so many people here?