Promotion based on merit and experience is a long standing practice in the banking sector. But this time, the strict conditions imposed by the new policy—mandatory of banking diploma, master's degree and publication of research papers—have created uncertainty over the promotion of 258 officials of public sector banks to the post of general manager (GM).
This new condition not only caused discomfort for officials; Instead, a fierce debate has started in the banking sector. The angry bankers termed the policy as 'unrealistic and discriminatory' and wrote a letter to the Governor of Bangladesh Bank demanding cancellation of the policy.
This tangle of regulations has become a major challenge for banking operations and professionalism. Now the question is, how effective steps can Bangladesh Bank take to overcome this crisis?
It is known that the panel of 258 people for promotion from Deputy General Manager (DGM) to General Manager (GM) in government banks and financial institutions has been finalized by the Financial Institutions Department of the Ministry of Finance. Interviews for the promotion started from November 4, which will end on November 27. Earlier in the beginning of 2023, the policy issued by Bangladesh Bank imposed the obligation of banking diploma. As per the decision given by the Institute of Bankers Bangladesh (IBB), new rules regarding professional masters and research have been introduced. The new policy requires candidates to pass two rounds of a banking diploma, complete a two-year professional masters and publish a research article for promotion to the post of GM. Now the promotion aspirants have raised a big objection with these conditions imposed by IBB. A large section of them feel that these conditions will create complications in the process and deprive many qualified officers from promotion.
Several officials among the promotion aspirants have complained that seniority, skills and field experience will not be properly evaluated if this new condition is implemented. This may create a new crisis in the banking sector.
FID Additional Secretary (Banking Division) Badre Munir Ferdous gave a clear message about the promotion policy. He told today's newspaper, '258 officials of government banks have already been called for viva for promotion to the post of General Manager (GM). He said that the process is going on based on the current policy. However, if there is any change in the policy, the promotion decision will be implemented as per the new guidelines.
It is clear from these comments that although there is some stability in the current process of promotion, the possibility of policy changes cannot be completely ruled out.
However, Laila Bilkis Ara, Secretary General of the Institute of Bankers, Bangladesh (IBB) disagreed with this demand of the bankers. At the same time, in favor of the new conditions, he said to the newspaper today, 'The banking diploma has been formulated in the light of reality. Syllabus changes and examination methods have been improved in line with banking activities. As a result, the pass rate has also increased. He further said, 'This change is conducive to skill development, so it is not appropriate to question it.'
On the other hand, according to angry bankers, 'this is a discriminatory policy.' They claim that there is no need to make diploma compulsory on bankers who have trained abroad. Making this diploma compulsory is inconsistent with the actual situation and banking activities, which may have a negative impact on professionalism. Abdur Rauf Talukder, the then Chairman of the Council of IBB and former Governor of Bangladesh Bank, took these suicidal decisions to benefit only a special group.
When asked about this, Bangladesh Bank's spokesperson and executive director Husne Ara Shikha told Ajker newspaper, 'A committee has been formed to verify the demands of the bankers. After receiving the recommendations of the committee, a decision will be taken regarding the amendment or cancellation of the policy.
