BB asks banks to finish task within 60 days

Bangladesh Bank (BB) has asked all scheduled banks to complete disciplinary proceedings against employees within 60 days aligning banking regulations with the Bangladesh Labour Rules of 2015.
The central bank issued a circular on Sunday amending its 2005 guidelines on disciplinary procedures for bank employees. The revised rule takes immediate effect.
Under the new provision, banks must dispose of all disciplinary cases within two months of initiating proceedings.
The central bank said the change was introduced to bring banking regulations into line with the Bangladesh Labour Rules of 2015.
"This deadline for resolving complaints has been set at two months in line with the Bangladesh Labour Rules, 2015," the circular said.
The regulator expects the measure to prevent disciplinary cases from remaining unresolved for prolonged periods, enabling banks to conclude internal investigations more quickly.
The move is also expected to strengthen professionalism, improve accountability and enhance governance across the banking sector.
Bank officials said lengthy disciplinary proceedings have often delayed employees' career progression and complicated transfers between banks, as unresolved cases frequently remain pending for extended periods.
The circular was issued by the Banking Regulations and Policy Department-1 under Section 45 of the Bank Companies Act, 1991.

jasimharoon@yahoo.com