BigstockSeveral banks begin cutting staff salaries, BB still in darkBangladesh Association of Banks (BAB), a forum of bank directors, recommended that commercial banks could cut salaries and allowances of staff as high as 15% for one year starting this month. Last month, AB Bank cut salaries and allowances by 3% to 5% from entry level to managing director. All the banks should cut the salaries of their staff because salary cut is better than job cut,” Tamal, also a member of BAB, told Dhaka Tribune. Contacted, Bangladesh Bank spokesperson Md Serajul Islam said they were yet to know the salary cut initiatives by commercial banks. He, however, said, “Salary cut is better than job cut.”

Source: Dhaka Tribune June 14, 2020 15:43 UTC