Bangladesh

Bankers’ families to get up to Tk 50 lakh

The central bank yesterday asked banks to pay cash compensation to the families of bankers in the event of death from coronavirus infections.

The special compensation will range from a minimum of Tk 25 lakh to a maximum of Tk 50 lakh, according to a central bank notice.

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The new instruction came as the central bank has kept banks open amid the countrywide lockdown, which was imposed to curb the alarming rise of infections.

The families of the first-class officers, senior officers, probationary officers, management trainee officers, or bankers holding equivalent posts will get a maximum of Tk 50 lakh in case of the death of the employees.

Tk 37.50 lakh will be given to the families of the bankers who hold positions from the trainee assistant official to the one just below the first grade.

Staff and sub-staff members have been brought under the scheme. Each family will receive Tk 25 lakh if they pass away after catching the deadly pathogen.

The compensation scheme will be applicable for the bankers and employees who have died since March 29 last year. It will be in addition to other existing financial benefits or incentives for the death while on the job. 

The compensation will have to be given to the spouse and son or daughter of the expired employees. If the expired employees are single, the fund will go to their parents.

Banks will not be allowed to adjust the payout with the previous liabilities of the employees, said the BB notice.

In April last year, the central bank announced health insurance coverage for both infected and expired employees. Yesterday discarded the instruction and replaced it with the new policy yesterday.

Now, bankers will not get any compensation if they get infected and recovered.  

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