BB scraps BRC, vests authority to banks
Friday, 18 December 2009
Nazmul Ahsan
The Ministry of Finance (MoF) on Thursday abolished the Bankers' Recruitment Committee (BRC) and vested the authority to the respective bank boards with the ministry retaining overall control.
An office order on recruitment of officers for the state-owned banks and financial institutions, issued from the MoF on the same day, has made the latest instruction effective with immediate effect.
The BRC, headed by Bangladesh Bank (BB) Governor, was established in September, 2000 to recruit first and second class officers for 12 state-owned banks and financial institutions.
The committee has so far earned fame for its neutrality and fair practices in appointing bank officials, sources said.
According to the ministry order, the power to recruit bank officers has been vested to the respective bank boards. The board of directors of the bank will form a recruitment committee with the permission of MoF.
Furthermore, the banks have to take permission from the MoF before starting the recruitment process. The representatives from BB and MoF have to be included in the recruitment committee of all banks and financial institutions, the order further said.
Until now, the BB Governor headed the BRC while General Manager, Human Resources Department of the BB, was its Member-Secretary. The Managing Directors of respective banks or financial institutions were members with no representatives from the MoF.
The officials in the MoF said BRC generally takes more time than necessary to recruit bankers as the top officials in the BB were less interested to give time for recruiting manpower for state-owned banks.
"The new directive will ensure faster recruitment of bankers,' a top MoF official told the FE.
However, insiders said the latest instruction would pave way for recruiting bank officers having political connections and strong lobby.
The newly appointed bank directors and leaders of Collective Bargaining Agents (CBA) would influence the recruiting process, a general manager of a state-owned bank apprehended.
Presently, posts of more than 2,500 officers are lying vacant in 12 state-owned banks and financial institutions.
The institutions are Sonali Bank Ltd, Agrani Bank Ltd, Janata Bank Ltd, Rupali Bank Ltd, Bangladesh Krishi Bank, Bangladesh Shilpa Bank, Bangladesh Shilpa Rin Sangtha, Investment Corporation of Bangladesh, Ansar-VDP Unnayan Bank, Karmashangstan Bank, House Building Finance Corporation and Rajshahi Krishi Unnayan Bank.
Under the present system, the state-owned banks and financial institutions can recruit third and fourth-class employees for their institutions.
The Ministry of Finance (MoF) on Thursday abolished the Bankers' Recruitment Committee (BRC) and vested the authority to the respective bank boards with the ministry retaining overall control.
An office order on recruitment of officers for the state-owned banks and financial institutions, issued from the MoF on the same day, has made the latest instruction effective with immediate effect.
The BRC, headed by Bangladesh Bank (BB) Governor, was established in September, 2000 to recruit first and second class officers for 12 state-owned banks and financial institutions.
The committee has so far earned fame for its neutrality and fair practices in appointing bank officials, sources said.
According to the ministry order, the power to recruit bank officers has been vested to the respective bank boards. The board of directors of the bank will form a recruitment committee with the permission of MoF.
Furthermore, the banks have to take permission from the MoF before starting the recruitment process. The representatives from BB and MoF have to be included in the recruitment committee of all banks and financial institutions, the order further said.
Until now, the BB Governor headed the BRC while General Manager, Human Resources Department of the BB, was its Member-Secretary. The Managing Directors of respective banks or financial institutions were members with no representatives from the MoF.
The officials in the MoF said BRC generally takes more time than necessary to recruit bankers as the top officials in the BB were less interested to give time for recruiting manpower for state-owned banks.
"The new directive will ensure faster recruitment of bankers,' a top MoF official told the FE.
However, insiders said the latest instruction would pave way for recruiting bank officers having political connections and strong lobby.
The newly appointed bank directors and leaders of Collective Bargaining Agents (CBA) would influence the recruiting process, a general manager of a state-owned bank apprehended.
Presently, posts of more than 2,500 officers are lying vacant in 12 state-owned banks and financial institutions.
The institutions are Sonali Bank Ltd, Agrani Bank Ltd, Janata Bank Ltd, Rupali Bank Ltd, Bangladesh Krishi Bank, Bangladesh Shilpa Bank, Bangladesh Shilpa Rin Sangtha, Investment Corporation of Bangladesh, Ansar-VDP Unnayan Bank, Karmashangstan Bank, House Building Finance Corporation and Rajshahi Krishi Unnayan Bank.
Under the present system, the state-owned banks and financial institutions can recruit third and fourth-class employees for their institutions.