Bank CEOs to get incentive bonus
Wednesday, 21 April 2010
FE Report
Chief Executive Officer (CEO) of all banks in the country will, for the first time, be entitled to incentive bonus for encouraging them to perform better, officials said Tuesday.
The central bank issued a circular in this connection Tuesday, which says the bonus will, however, not exceed Tk 1.0 million.
The CEO's bonus will largely depend on the availability of the bonus for employees of the banks, according to the circular.
"We've allowed such incentive to encourage them," a senior official of Bangladesh Bank (BB) told the FE, adding that the central bank earlier issued rules and regulations regarding appointment of the CEO of banks.
Under the existing rules, salary-allowances and other facilities of the CEOs as specified in the terms and conditions of appointment cannot be changed during the tenure.
"In case of renewal, proposal may be made for re-fixation of the salary considering the job performance of the incumbent chief executives," the central bank earlier said in a directive.
Currently, 47 scheduled banks are operating their businesses across the country.
Chief Executive Officer (CEO) of all banks in the country will, for the first time, be entitled to incentive bonus for encouraging them to perform better, officials said Tuesday.
The central bank issued a circular in this connection Tuesday, which says the bonus will, however, not exceed Tk 1.0 million.
The CEO's bonus will largely depend on the availability of the bonus for employees of the banks, according to the circular.
"We've allowed such incentive to encourage them," a senior official of Bangladesh Bank (BB) told the FE, adding that the central bank earlier issued rules and regulations regarding appointment of the CEO of banks.
Under the existing rules, salary-allowances and other facilities of the CEOs as specified in the terms and conditions of appointment cannot be changed during the tenure.
"In case of renewal, proposal may be made for re-fixation of the salary considering the job performance of the incumbent chief executives," the central bank earlier said in a directive.
Currently, 47 scheduled banks are operating their businesses across the country.