1.

Different types of employees:

The BRAC Bank Limited has in different employee’s criteria. There are different
types of employees working in different places inside BRAC Bank. The types of
employees are-

1. Regular/ Full time employee: In full time category, employees are joined as
probationary for six months or one year depending on job category. They also
have to sign a deed for 5 years a long with depositing taka 2 lacs refundable. The
regular employees are allowed to get the bonus, incentives and other allowances
with their basic salaries. And these types of employees also have the benefit of
getting extra facilities the BRAC Bank limited is providing for their employees.

2. HR Contractual: Contractual employees are taken for specific period like six
months basis. Along with their salary, they get attractive performance bonus if
they achieve their target which determined by organization. HR temporary
contract are for those categories whose Job description is such, where he/she
needs to be under the direct supervision of Bank’s authority, whose performance
is monitored by the Bank Management. They might be specialist, consultant, and
specially assigned staff. Staff under HR contract are those people who directly or
indirectly deals with customer, has access to Bank’s confidential data’s & valuable
properties (car, etc.), deals with sensitive areas, also where staff need to deal with
customer as a representative of BRAC Bank directly. 3. Outsource Staff: Other
contractual employees are not entitled for any service agreement. They will be
recruited through outsource agencies. The requirement of any support staff
through outsource agency must come through HR signed by the Division Head. HR
will send the requirement to provide staff by the Outsource Agency. Outsource
Staff recruitment depends on the budgeted requisition of the staff from the
respective departments. However, for non-budgeted requisition it will go through
after the approval process of MANCOM. The bank reserves the right to terminate
the contract with the Outsource Agency without assigning the reason
whatsoever. The Outsource Staffs salaries are fixed and they won’t get any
allowances with their salary.

4. Intern: To encourage and help human resource development in the financial

industry the Bank may decide to offer internship programs to individuals or
educational institutions. The decision to enter such an engagement will be
decided by the MD& CEO on the recommendation of the Department Head.

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The HRD will prepare the proposal of such engagement with individual/institution
and forward it to the MD& CEO for consideration with the recommendation of
the Head of HR. Individuals engaged as Internees will be paid a consolidated
Honorarium of Tk. 5000/- per month, as decided by the MD/MANCOM and will
not be entitled to any other benefits. Managing Director & CEO will determine
and analyze the necessity of intern on the basis of yearly budget and also
requirement of special projects. As per requirements Department Head will make
the intern requisition and after receiving intern requisition HR will take 15 days
for an intern to join. All Internships program will be for a three months. Prior
approval by MD& CEO internship program can be extended for a maximum period
of six months.

5. Management Trainee Officer (MTO):

Management Trainee Officers highly qualified students of BRAC Bank Limited. The
MTO‟s are regular employee but they have to learn as a student inside BRAC
Bank for the period of one year. After one year if they can complete their learning
period successfully they will become a senior officer directly from the MTO.

2. Human Resources Division:

Having a Human Resources Department in Bangladeshi business organizations
today is becoming a common and important part. But Human Resource
Management is a relatively new discipline to study and implement in this part of
Asia and in most organizations HR Department work as a „Support‟ department
to the organization. Whereas it was supposed to be an integral part of the
business without which an organization cannot maximize the utility of its most
valuable resource, which is the workforce, the employees of the organization. In
HRD, there are 24 permanent employees are currently functioning.

In BRAC Bank Ltd. there are three different divisions of departments. One is
„Business‟, another is „Support‟ and the other is „Operations‟. Here also HRD is a
Support department to the Bank. The „Business‟ division includes the
departments which are directly related to the Banks banking business, banking
products e.g. SME, Retail, Corporate etc. Whereas „Operations‟ division includes
departments related to logistics, transports etc. e.g. the GIS (General
Infrastructure Services) Department. BRAC Bank also outsource for contractual

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posts e.g. the Bank is currently outsourcing from an organization named
“CLEANCO” for floor maintenance. They also hire HR Contracts who, upon
satisfactory performance and experience, can achieve a regular post in the bank.
The HR policies regarding employees of BRAC Bank will be discussed later. The
Human Resources Department currently has 3 different wings. These are:

• HR Relationship, Process Management and Recruitment

• Compensation, Pay and Benefits

• HR Operation/ Administration

All the senior managers of these wings reports to the Head of HR, Ms.
Fatema Rezwana who is also one of the Senior Vice Presidents and
member of the Management Committee (MANCOM) of BRAC Bank Ltd.

Functions of the HRD Though there is a big difference between text books and
real workplace scenario, BRAC Bank HRD‟s functions does not differ much.
According the HR discipline, they too have a recruitment division, compensation
& benefits planning division and there are performance measurement methods
and rewards for good performance as a motivational drive in BRAC Bank HRD‟s
policy. The HR Administration division and MIS & Strategic planning division is
now under HR Operation Wing. The functions of BRAC Bank HRD are discussed
elaborately in the following sections.

3. HR Relationship, Process Management and

Recruitment:
The recruitment division is responsible for collection of CVs, Job Applications for
vacant posts, Internship Applications etc. The recruitment officers collect and
store these hard copies and also updates, maintains computer databases
regularly. The recruitment officers‟ task is to organize CVs for potential
candidates so that in time of recruitment they can be found and short listed
within a reasonable time. The very general idea about the functions of

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recruitment division is that after CV short listing, the short listed candidates are
contacted (usually by telephone) for interviews. In case of large number of
candidates, letters are mailed to the applicants/candidates mailing address. These
are done according to the interview schedule made before contacting the
candidates. The interview or written test schedule is made prior to contacting
with the short listed candidates by communicating with respective departments
who submitted requisition for the needed workforce. The respective Department
Heads accompany the Head of HR in the interview board and cross Department
Heads also join the board. After the interview the recruitment division acquires
the Interview Score Sheet which is printed and handed to Interview Board before
starting the interviews. The filled out Interview Score Sheets are then used to list
the finally selected candidates for the respective posts. According to the Score
Sheets, the Recruitment Division issues Offer Letters/Appointment Letters to the
finally selected candidates and requests them to collect their Letters from the
HRD. The new employees are then greeted to finish all the official formalities (e.g.
Bond Signing, PIN number assignment etc.) and assigned a joining date in their
respective departments. Written tests are only arranged when necessary, usually
in case of large number of applicants. Before a recruitment process is completely
finished, the recruitment officers must communicate with the Learning and
Development Officer so that they can arrange orientation or initial training
sessions for the newly recruited employees on time. This is done frequently
because most of the time the posts getting filled up require an initial training or
orientation. BRAC Bank also provides a large number of internship opportunities
for students all over the country. Communicating with different departments and
finding out open internship scopes is one of the tasks for a recruitment officer.
Departments, Branches also communicate with Recruitment Team whenever
there is an Internship opportunity is available in their respective stations.
Matching the subject studied by the student and the open department enables
the recruitment officer to make decision in selecting an intern. BRAC Bank HRD
gives priority to interns (who have successfully completed their internship in any
department or branch of BRAC Bank) when they apply for a vacant post.

The steps involved in a recruitment process are as follows:

1. A properly filled-out Staff-Requisition Form is submitted by the concerned
Department Head or Manager.

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2. The Requisition should be supported by the Manpower Budget for the year;
otherwise, a Non-Budgeted Requisition must be signed and approved by the
Managing Director upon stating valid reason for the recruitment. 3. Determining
the type of recruitment is the next step so that source of CVs can be identified.
For a Full-Time/Regular post an Internal Job Watch must be circulated with details
of the post throughout the bank using Lotus Mail. External CVs are also accepted
for a post offered through mail but in these cases, internal source is preferred by
the concerned department as some posts require existing, experienced
employees within the bank. For example, a Regular post open in Unsecured Value
Center usually prefers an HR Contract working in Unsecured Value Center for past
two years with satisfactory performance.

4. Criteria for existing Regular employees to apply in an Internal Job Watch are:

a) The employee must have worked 1 Year after his/her confirmation and
completed 1 continuous year of service in his/her current department.

b) Must have minimum performance rating „P‟ (for Proficient)

c) Must have completed 8 mandatory E-Learning courses.

5. Condition for HR Contracts is 2 years of continuous service in the current

department.

6. For external CVs the Recruitment wing looks into the archive of CVs applying
for any suitable post and for large recruitments we publish circular in
Newspapers. Usually in “Prothom Alo” and “The Daily Star”.

7. On the day an Internal Job Watch closes or a Paper Ad reaches deadline for CV
submission, the Recruitment wing checks all the CVs as an initial screening and
then sends the CVs for final short listing to the concerned departments who
submitted requisition. The finally selected applications are then called (issued
interview cards in case of large recruitments e.g. CRO's for SME Banking) for an
interview after setting an interview date and venue.

The recruitment wing manages Internal Job Postings, recruiting HR Temporary

Staffs and Outsourcing Staffs’ The Service Level Agreement (SLA) schedule is
strictly followed by all concerned wings. The Recruitment SLA procedure followed
is given below:

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 Recruitment through Internal Job Search & CV Bank
SL. no Particulars Working
Days
Required
to
Complete
the Task
Internal Job Search will be published or CV will be collected through
1. the CV bank/E-Recruitment site after getting requisition from 05
respective department with respective Job Description (JD) as per
approved head count budget.
2. After CV collection interview will take place. 05
3. From the date of CV collection, HRD will constitute interview Board 03
and Members will be informed prior to interview.
4. Appointment letters will be signed after final interview. 03

5. Appointment letters to be handed over to candidate after signing by 02

HOHR and Managing Director.
Recruitment through Advertisement
6. After Receiving Requisition from Concerned Department, Marketing
Department will publish the Advertisement upon the advice from 07
HRD. Advertisement will also publish in our website.

7. Application Duration (Collection of CV with application from external 15

candidates against the advertisement published)
8. HRD will scrutinize the CVs (Other than CRO & MTO) after CV 03
scrutinize is over.
9. HRD will arrange the Interview (Other than CRO & MTO) after CV 05
collection is over.
10. HRD will scrutinize the CVs (Only for CRO & MTO) after the period for 10
collection of CV is over.
11. HR will Process the data of the scrutinized CRO & MTO applicants 10
12. HR will send the letters to the applicants ahead of interview process 15
13. HRD will arrange the Interview (Only for CRO & MTO) after CV 10
scrutinize is over.
14. Other Process (Sl # 03 to 05) Same as
above
(Sl# 3 to 5)
*MTO refers Management Trainee Officer and CRO refers Credit Risk Officer

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Recruitment Budget:
• Managing Director & CEO will determine and analyze the necessity of
manpower based on recruitment required by the Departments and projected
budget based on the year after discussing with different department heads.
Therefore, it is the responsibility of the management to examine the work load
and carry out the job analysis and as well as looking into the real requirement of
employees under various categories, to see whether an additional hand is really
necessary

• Board of directors holds the authority to finally decide any matter regarding any
sort of recruitment. Besides they are the supreme authority to create any kind of
new position.

• BRAC Bank must recognize the importance of manpower estimation and

accordingly an organization structure should be prepared for the Bank and for
each Division & Branch. The organization structure shall however, not be rigid, it
may be reviewed and revised when necessary from time to time. Subject to
review from time to time, the competent authority as per power delegated by the
Board will make the appointments.

The Recruitment Policy:

• All regular employees will appointed by the Managing Director.

• All HR contract and outsource contract employees will be appointed by The

Head of Human Resource Division.

• The schedule of recruitment will be created according to the Service Level

Agreement (SLA).

• The interview board will with The Head of Department of that post, The
Supporting Department Head and The Head of HRD.

• Officer Grade I and Officer II can appoint directly after the interview.

• From Senior Officer and more there will be a second interview with the
Managing Director of BRAC Bank Limited after the first interview.

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• For internal job posting the employee can only apply if he has the service time
in BRAC Bank is more than two years and also need to recommend the
candidate’s application by the reporting supervisor of the employee.

• The HR Contract employee can apply for the regular post after servicing more
than two years in the BRAC Bank.

• Outsource Staff can apply for the regular post after servicing more than three
years in the BRAC Bank.

• The new recruited will get the probationary period of one year if the employee
has less than three years of working experience and will get the probationary
period of six months if he has more than three years working experience.

4. Compensation, Pay & Benefits

The Bank is committed to follow a fair, competitive and flexible remuneration
policy. The Board is the final authority for approval of this policy and will amend
and review the policy on recommendation of the Managing Director /
Management Committee periodically. The remuneration policy of the bank will
cover all persons engaged in permanent service of the bank. The different job
grades at BRAC Bank are as follows:

• Deputy Managing Director

• Executive Vice President

• Senior Vice President

• Vice President

• Senior Assistant Vice President

• First Assistant Vice President

• Assistant Vice President

• Senior Principal Officer

• Principal Officer

• Senior Officer

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• Management Trainee Officer (Direct Recruit)

• Officer Grade II

• Officer Grade I

The Salary structure of the Bank is based on the aforementioned Job Grades. Job
grades are decided on the basis of an analytic assessment of the position based
on the size, responsibilities, decision-making authorities and the nature of the job.

The remuneration of employees consists of:

1. Basic Salary
2. House Rent and
3. Medical Allowance

Salaries are confidential between the employees concerned and the

Management. The salary ranges for these job grades are reviewed from time to
time. HR Temporary & outsource staff do not have any assigned job grade. The
contracts get a consolidated payment per month and there are no other
entitlements applicable except commission based on job criteria.

Basic Pay:
Basic Salary Ranges (BSRs) is commensurate with the job grades and is
determined by the Board on the recommendation of the Managing Director. The
Board reviews the BSR at least once every two/three years.

House rent allowance: House Rent Allowance may be paid to the employees at
such rates and on such conditions as may be prescribed by the Competent
Authority from time to time.

Medical allowance: Medical Allowances may be paid in accordance with the job
grades and on such conditions that may be prescribed by the Competent
Authority from time to time.

Festival Bonus: All regular and confirmed employees get two bonuses each year.
One in Eid-Ul-Fitr and another during Eid-Ul-Azha only for Muslims and
employees of different religion gets that bonus during their respective religious

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festival. There is also a performance bonus system maintained by the
Compensation, Pay & Benefits wing. But final evaluation is always decided by the
MANCOM.

Other than the above benefit there is a Provident Fund System, a Gratuity System,
Group Hospitalization Insurance Policy, Employee Security and Welfare Fund
maintained by the Bank. Regular and confirmed employees can apply for House
Building Loan and Car Loan. Allowances are also available to only regular and
confirmed employees but Car Allowances are only for the grades above Senior
Princip1al Officer (SPO). There is an annual increment for all regular and
confirmed employees on their joining anniversary. o Festival Bonus will be paid
to all confirmed officers/staff at one month basic salary which will be reimbursed
twice in each calendar year. All confirmed employees would get one bonus during
Eid-ul-Fitre and another one for Muslims during Eid-ul-Azha and for others based
on their respective religious festival.

 Non-confirmed employees will be entitled to get Festival bonus as pro rata

basis depending on his/her BBL joining Date.
 HR Contract & Outsource Staff would get 1 bonus, which is 50% of this
gross salary.

The Board of the Directors will decide the annual salary revision and
recommendation will be based on:

 Revised Pay Scale, and/ or

 Inflation adjustment rate
 Performance

Performance Bonus (PB) ;( once a year):

The Board of Directors at its discretion, based on the Bank’s profit will declare a
certain percentage of the pre-tax profit as Performance Bonus.

The contribution measurement will be coming from the Performance Matters.

Performance Matters for such purpose shall be made on the criteria set by the
management from time to time. Amount of Performance Bonus will be 3% based
on net profit after tax and method of distribution will be based at Management
discretion No bonus will be applicable to the employees rating marginal &

Page | 10
unsatisfactory. Final Evaluation will be decided by the MANCOM for the entire
bank after going through a „rating‟ process to ensure that a consensus is reached
for the entire bank.

Leave Fare assistance (LFA); (once a year):

Leave Fare Assistance is a non-recurring benefit for all the permanent employees
of the Bank who have completed at least one year service. According to
Bangladesh Bank policy all the permanent employees have to take 15 days
mandatory leave in one go and LFA will give in this leave period, so that everyone
will be encouraged to avail the leave. The Board has approved the LFA in its 92nd
Meeting.

BRAC Bank provides Leave Fare Assistance to its Employees to ensure that the
employees enjoy a sound mandatory leave of 15 days in one go. This will
definitely enhance the employees‟ satisfaction and it will enhance
competitiveness with peer organization in the industry.

Every Permanent employee of the bank is eligible to receive the LFA who have
completed at least one year service. This benefit is available at the time of
mandatory Leave. However, after completion of one year service and being
confirmed, calendar year must have the option to accommodate staff mandatory
leave.

LFA will be given at the time when an employee will avail the 15 days mandatory
leave. LFA will be the one month’s basic salary of processing month for current
and future treatment. For previous treatment, the amount will be one month’s
basic salary of Mandatory Leave Availing month.

Every Confirmed Employee is entitled to receive LFA only once in a year. If any
staff fails to go to mandatory leave his/her LFA will not be carried forward. That
means in a calendar year only one LFA will be given to the staff. The Staff has to
have enough leave balance to accommodate 15 days one go leave, otherwise
s/he will not be entitled to have the Leave with LFA. Staff can’t claim the
mandatory leave after separation situation arise that means if an employee
resigns from the services or in the notice period s/he can’t claim for mandatory
leave with LFA. The other hand if any staff is terminated/ dismissed s/he can’t
claim for mandatory leave with LFA after receiving the letter. Government rules
and regulations will be followed regarding tax issue. LFA will be included in the
income certificate of staff for tax return purpose. After receiving Mandatory

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Leave application HRD will produce the Pay Slip. Head of HR will approve this slip
and send to FAD (Funding Allowance Document) for payment and FAD will pay
accordingly. It will be come into force from January 2008 according to approval of
the board.

Telephone policy:

Employees from AVP and above are entitled to have mobile phone sets with all
facilities (T&T incoming, outgoing, and ISD connection) Employees of the bank
below AVP are requested to take up a post-paid mobile at their own expense
according to departmental need and also given a ceiling on the basis of their job
functionality. All others except SME will have to get their monthly bill approved
by the departmental/divisional head prior to submission for payment
disbursement. Others may avail a bank’s mobile, provided they seek prior
approval from the competent authority.

Hospitalization Insurance: In the event where hospitalization or surgery is

required for a member of the officer’s (confirmed employee) dependent (Spouse
and Children) including hospitalization on account of maternity - the Bank will
reimburse the officer (Group C) up to a maximum of Tk.35,000/- per annum, for
executives (Group B) Tk.100,000/- per annum and 200,000/- per annum for
MANCOM (Group A).

Travel allowance: An employee of the Bank may be allowed to draw traveling

allowance in respect of journeys performed for the purposes authorized by the
competent authority which include:

- On officially assigned tour

- To give evidence in a court of law

- On transfer

- On compulsory recall from leave

- To appear at a departmental/professional examination as authorized by the

competent authority

- To attend a course of training sponsored by the Bank

- To bear the cost of travel of deceased employee

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Types of allowances under travel policy:

- Traveling Allowance (Mode of Transport)

- Accommodation Allowance (Hotel Rent)

- Daily Allowance

Gratuity:

The Gratuity Fund is a terminal benefit that an employee receives at the time of
retirement/resignation.

• Eligibility:

Regular confirmed employees who have completed at least 5 Years continuous

service are entitled to receive Gratuity Benefit.

• Gratuity Calculation:

Last month’s basic Salary multiplied by the year of service completed e.g., if an
employee serves The Bank for 6 years and then resigns/retires his Gratuity
Calculation shall be (Let’s assume his Basic Salary is Taka 20,000.00):

Taka 20,000.00 x 6 years = Taka 1, 20,000.00 The custody, management,

investment and control of the fund shall be vested in the board of trustees.

• Regular employees after confirmation need to fill up and submit the

“Application for Enrollment as Member” to become a member.

• There shall be at least 6 trustees of the fund. Trustees will be nominated by the
MD.

• The MD shall be an Ex-Officio Member and Chairman of the Board of Trustees.

- The Head of Human Resources - Ex-Officio Member.

- The Head of Financial Admin - Ex-Officio Member.

- At least three representatives from the members as nominated by the

Chairman.

If there is a shortage of member of the board of trustees due to resignation then

the Chairman can nominate trustee/s to reach the minimum number. The Board
of Trustees shall meet at least 4 times in a calendar year. At least 7 days prior

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notice should be given to the trustees before a meeting. All money of the fund
shall be deposited in a Special Account with any bank, This should be mentioned
here that the Account is maintained jointly by authorized members of the board
of trustees.

The Trustees are authorized to invest the surplus money of the fund in
accordance with the provisions of Company Act 1994 and Income Tax Rules 1984.

Security Fund:

The objective of the fund is to provide predetermined monetary benefit against

Death and Permanent Disability of regular confirmed staff to his/her
Dependent/Heir/Nominee by the Bank. All Regular Confirmed employees are
eligible to avail this benefit. The fund for this benefit is created solely with The
Bank’s Contribution. The Bank will contribute Taka 5.00/Thousand on a yearly
basis against the last basic salary of each eligible employee. (The rate of
contribution may be changed subject to the approval of the board.) The Bank
maintains a liability account to manage the fund. The total amount of benefit will
be equal to 36 times of the last basic salary of the employee.

Two forms of benefits:

a) Death Benefit:

- If an eligible employee dies within the term of employment.

b) Permanent and Total Disability (PTD):

Disability resulting from accidental means that is continued for at least Six months
and is certified by Bank’s designated doctor as incurable. For both cases the
benefit shall be paid to the nominee upon receipt of necessary proof. (In case of
minor nominee, the benefit will be paid to the legal guardian of the nominee)

Exclusion from Employee Security Benefit:

Employees will not be eligible for the benefit, if Death or disability is caused by:

- For further injury of Employees with pre-existing degree of disablement.

- Attempted suicide or self-inflicted injury.

- Civil commotion, Assault, homicide or any war like operations.

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- Making an arrest as an officer of law.

- Committing a felony. - Racing on wheels.

- Accident while the employee is affected by Alcohol/Drug.

The Board of Directors reserves the power to close fund at any time. At such
event the fund shall be refunded to the Bank.

BRAC Bank Employees‟ Provident Fund:

The BRAC Bank employees‟ provident fund requires the employer i.e. BRAC Bank
Limited to contribute to the fund 10% of basic salary for all regular confirmed
employees. Every member of this fund on retirement is provided with a sum of
money as determined by the established rules for the fund on retirement or
resignation from his or her services. This fun has been effective from the 1st of
January 2003.

A board of trustee is entrusted with the control, management and investment of

the fund. The trustees of the board are nominated by the Chief Operating Officer
(COO) who also holds the right to replace any such trustee. Each trustee may hold
the office for a period of three years.

Contribution: As stated by the rules, each member contributes a sum equal to

10% of the basic salary each month that is deducted by the bank at the time of
payment. BRAC Bank Limited matches the employee’s contribution with a
monthly payment equal to 10% of the basic salary of each member. Every half
year, each member’s account is credited with interest pertinent to the income
earned on the investments from the fund. The sum of money given by the
members and the amount contributed by the bank are credited separately to
his/her account in a special ledger kept by the trustee at the head office of the
bank in Dhaka.

Payment:

At the time of resignation or retirement, the employee is entitled to receive the

employer’s contribution and the accumulated interest subject to his or her length
of membership in the contributory provident fund.

If the employee has been a member for less than or equal to year then he/she will
not be eligible to receive any of the above mentioned contributions. He/she will
only be able to obtain his added contributions over the period of his membership.

Page | 15
If the duration of membership has been equal to or less than three years then the
member will be entitled to receive 50% of the employer’s contribution and
accumulated interest. If the duration of membership has been more than 3 years
then the member will be entitled to receive 100% of the accumulated interest
and employer’s contribution.

In case a member is dismissed due to negligence or incompetence, he or she will

be entitled to receive her/her own contribution along with the accrued interest
thereon at the settled interest rate. The bank’s contribution however may be
forfeited and distributed among the members according to the individual
balances of the members.

The same is applicable in case of an employee dismissed from the bank due to
misconduct or fraud. However, for such purposes, only the trustees shall be the
sole judge of whether the cause of dismissal or forced retirement is significant
enough or not.

Welfare Fund:

The motive behind establishing the welfare fund is to be able to provide the
regular confirmed employees from JO to SPO with financial support for incidents
or events when the cost may not be affordable for the employees. These may
include the following: - Accidents on the job - Extended illness - Education for
children - Marriage of children Employees of the grade JO to SPO may be the
members of this fund. The amount to be received by the employees under such
special circumstances would be settled on by the fund management committee
after thorough assessment of the claim application and relevant documents.

A beneficiary will not be entitled to receive fund more than once in one calendar
year. Maximum limit for relevant occurrences are stated below:

- Severe Accident & Extended Illness TK 50,000

- Education/Examination:

 SSC & HSC - TK 10,000

 Degree (BA/ BSS/ BSC/ BCOM/ BBA) - TK 20,000
 Master Degree/ MBA - TK 50,000
 Marriage Ceremony - TK 1, 00,000

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Car Loan Scheme:

The car loan facility is extended to employees of or above the grade PO. The
amount of loan that these employees can take obviously varies according to their
respective job grades. Principal and Senior Principal Officers can take loan
amounting to Tk.800, 000 AVP, FAVP, SAVP can file for loan amounting to Tk.10,
00, 000 VP and SVP can file for loan extending up to Tk14, 00,000

Car Allowances:

Employees of or above the grade of AVP are also provided with car allowances
that incorporate expenses for Fuel, Driver and Maintenance. AVP, FAVP, SAVP
can have an amount of TK.29, 000 allocated as car allowance per month. The VP
and SVP can have an amount of TK 37,000 allocated as car allowance per month.

Staff Loan:

Staff loan is granted to regular confirmed employees of the bank. The duration of
service of the employee has to be at least a year long. The employee can apply for
loan extending up to 5 times of his/her gross salary at 10 % interest rate.

House Building loan:

Employees who have had a service length of 5 years and above are eligible to
apply for house building loan. A committee will oversee the loan application and
monitor the location for house building the debt burden ration of the employee
and other relevant issues. The debt burden ratio for the employee has to be 50%
or below for the loan to be approved. The repayment schedule for the loan has to
be before the retirement of the employee. The interest rate of the loan is 3%.

Termination Benefit:

In case a confirmed employee is asked to resign from his/her services by the

relevant authority without stating any reason, he/she is eligible to receive one
month’s notice in writing or one month’s gross salary as payment. If the employee
is duly notified with one month’s notice, he/she will not be entitled to receive any
form of compensation for the termination of services.

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Suspension Benefit:

In the event that a report/information about misconduct or fraud is received

against an employee, he/she has to undergo stages of disciplinary proceedings.
The employee is presented with charge sheet and is given 4 days to come up with
an explanation. A preliminary enquiry committee is formed and an enquiry notice
is issued that marks the beginning of a proper domestic enquiry. If, according to
the committee’s report, the employee is found guilty he is duly punished. In case
the employee is found not guilty, he/she is retained with due respect. During the
period of enquiry, the employee may be suspended and will only receive 50% of
his basic salary. In case he/she is proven to be not guilty, then the full amount of
salary must be refunded to the employee.

5. HR Operations / Administration
We know that the word „Administration‟ means controlling people. In BRAC Bank
limited, HR Operations is much more than just controlling. It includes motivating
the workforce, encouraging them to be more productive and innovative, leading
or selecting or providing an appropriate leader for a leaderless team.

Some smaller and simpler day-to-day functions are carried out by the
Administration as well. These includes employees‟ leave balance monitoring and
approving if they can avail leave, if „yes‟ then planning and suggesting how many
days, which days etc. Checking and approving employees‟ different loan (House
Building, Personal, Car etc.) requests. Administration also carries out quarterly
„Reward and Recognition‟ event which is called „The Town Hall Meeting‟. Here
BRAC Bank employees get rewarded based on their quarterly performance
evaluation.

Operations also has to undertake some harsh duties which are Show Cause letter
issue, Warning letter issue, issuing letter of Termination, issuing Dismissal order,
Audit and Investigation etc. These are certain unavoidable and rare incidents
caused mostly by employees and their personal issues that directly violate Bank’s
code of conduct. The HR Vista DBMS Software specially designed for BRAC Bank

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is used by the Administration for employee record updating. Operation also
carries out Confirmation, Renewal of Contract and Promotion formalities.

Since BRAC Bank focuses more on SME sector, the Bank heavily depends on their
Customer Relations Officers (CRO). Due to their educational level and type of duty
depends on ethical standards, the CROs are often required to be monitored and
lead. Assigning a good Sales Team Leader (STL) for different CRO teams in
different districts is also a task of HR Operations.

Another motivational factor rewarded and monitored by HR Operations is „Bright

Ideas‟. Bright ideas are usually those which employees come up with from their
own judgment and if it benefits the Bank (e.g. Cost reduction, organization or
work process development) then it is considered is considered as a Bright Idea .
The respective employees are rewarded accordingly as a factor of motivation.

The HR Operations covers the following tasks:

Leave System:
The policies followed for employee leaves management based on the types of
leaves and their criteria are given below:

Annual Leave:

All officers will become eligible for annual leave of 24 working days after
completion of one-calendar year. Of these 24 days 15 days must be taken as
consecutive leave each year. Any pending leave may be carried forward to the
next year. Annual leave encashment facilities may be allowed to the person for a
maximum of 90 days at the time of Employee’s leaving the bank. Any leave taken
in advance to be adjusted during the final settlement period.

Casual/Sick Leave:

Casual leave up to 14 calendar days can be granted per year to an employee who
may be unable to attend duty due to sudden illness or urgent private affairs. Not
more than 2 days casual leave can be taken at a time in a month. Casual Leave
more than 3 days will be considered as sick leave and has to be supported by
medical reports. In case of prolonged illness the Managing Director may grant

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medical leave in excess of sick/casual leave with full pay and allowances for a
period up to one month.

Maternity Leave:

Female (confirmed) employees will enjoy 4 months maternity leave. One

employee will be entitled to avail this leave for 2 times in her entire service
period.

Study Leave:

Study leave of maximum 2 years can only be granted to an employee without pay
and allowances provided he/she has put in at least three years of service. This
Leave is only granted to those employees who have achieved a minimum of 3
years of service record with the bank and also to those who are due to retire
within 5 years of the date on which he/she is likely to return from the study leave.
This leave shall, however be allowed in the entire period of service.

Leave without Pay:

Leave without pay may be granted to an employee in special circumstances

where no other leave is admissible under these rules. In case of Leave without
Pay, the period does not exceed 60 days.

Leave during Probation Period:

For sick leave in the probation period, the leave has to be specially mentioned by
the department. Casual leave will be granted to probationary employees after
completion of 6 months. Any leave taken prior to completion of 6 months will be
adjusted against the casual leave.

Encashment Facilities of Annual Leave:

Annual leave encashment facilities may be allowed to the employees for a

maximum of 90 days (based on last basic) at the time of employee’s leaving the
bank.

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Probation and Confirmation:

The terms of probation are as follows:

• A person selected for appointment with less than 3 years job experience will be
on probation period of one year.

• An employee with job experience of 3 years or more will be on probation for 6

months.

In the event of the probationer’s failure to show satisfactory progress and acquire
required efficiency during employee’s probationary period, the appointing
authority may, at its discretion, extend his probationary period by a maximum of
additional 6 (six) months, or dispense with his service by giving one month’s
notice or by paying a sum equal to one month’s pay without assigning any reason.
An officer shall become eligible for confirmation in the specified post subject to
employee’s successful completion of the period of probation. In the case of one
year, if the person fails to show satisfactory progress, employee’s appointment
will be terminated.

The confirmation of service of all officers and employees in the services of the
Bank shall take effect on and from the date as will be specified in the order of
confirmation.

After the probationary period of six months or one year the administration send
the appraisal form to the Department Heads. After completing the appraisal form
send the form to the administration. In the procedure the HRD head send this
appraisal form with his approval signature to the Deputy Managing Director of
BRAC Bank Limited to approve and forward it Managing Director of BRAC Bank
Limited and after that it will be approved signed by the Managing Director.
According to the comment and remark of appraisal form the employee will get
the confirmation with increment of salary or confirmation with promotion or no
confirmation.

Promotion Pattern:
Promotion is a continuous process by which the employee motivates for batter
work; get the price for employee’s better work. In BRAC Bank there are two types
of promotions-

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Regular Promotion:

Regular promotion is given according to the employee’s regular performance.

When the supervisor or department head of the employee evaluate that his
employee is become an asset for the bank and deserve promotion then the
supervisor or the department head take a promotion appraisal form from HRD
and recommended the employee for promotion. In the procedure the HRD head
send this appraisal form with his approval signature to the Deputy Managing
Director of BRAC Bank Limited to approve and forward it Managing Director of
BRAC Bank Limited and after that it will be approved signed by the Managing
Director. According to the comment and remark of appraisal form the employee
will get the promotion with increment of salary.

PM Promotion:

Performance Matter (PM) is the annual performance report of individual

employee of BRAC Bank Limited. According to Performance Matter ranking scale
the employee can get promotion in the job grade of their own. According to the
policy any employee can’t get any promotion within a year after the employee’s
joining in the BRAC Bank Limited. And on the other section the employee can get
promotion after six months of his previous promotion.

Resignation:

The following sections will display the policies of BRAC Bank Limited regarding its
employees‟ resignation and termination situations. This part will discuss about
the policies and procedures for resignation or termination in situations when:

• A regular employee wishes to resign

• A probationary or temporary employee wishes to resign

• When a regular employee is terminated

• When a probationary or temporary employee is terminated

Resignation of Regular Employee:

A confirmed employee may leave or discontinue from the services of the bank by
giving one month notice, in writing or pay to the bank as compensation an
amount equal to the employee’s total pay for one month.

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Resignation of Probationary or Temporary Employee:

Probationary or any temporary employee shall leave or discontinue employee’s

service from the Bank by giving 15 (fifteen) days prior notice in writing of
employee’s intention to do so or pay to the bank as compensation an amount
equal to employee’s total pay for fifteen (15) days.

Note: Certificate will not be provided to staffs that were forced to resign, got
“unsatisfactory” rating in their Performance Matters or have integrity issue and
no confirmed staff.

Termination of Regular Employee:

The competent authority may terminate the services of a confirmed employee or

call upon him/her to resign without assigning any reason, by giving him/her one
month notice in writing or on payment of one month substantive pay in lieu of
such notice and the employee shall not be entitled to any form of compensation
for termination of service. The bond that is signed by the employee before
joining, which is actually an agreement between bank and employee become void

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Termination of Probationary or Temporary Employee:
Resignation submitted to line manager

The service of a probationer or a temporary employee shall be liable to be

terminated by the competent authority without assigning any reason without
giving him or her any notice and the probationer or the employee shall not be
entitled to any form of compensation for termination of service.

With the acceptance & recommendation line manager forwards it to

departmental/ divisional Head

Resignation letter forwarded to HR

Resigned staff will collect clearance form from HR which to be cleared by all
concerned Departments

The filled up clearance form will then sent to Finance for final settlement

After final settlement HR will take exit interview of the resigned staff

HR will prepare the release letter and a certificate

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Resignation and Settlement Procedure:
The official formalities for resignation and settlement cases administered by the
concerned department and HRD are sequentially shown below:

Serial Tasks Working

Numbe Days
r Required to
Complete the
Task
1. Resignation letter must be forwarded to HRD by
concerned supervisor or department head after his/her 2Days
proper signing.
2. After Receiving Resignation/Termination/Dismissal 4Days
Letter with handover and takeover documents HRD will
due clearance from various departments.
3. HRD will do the final settlement work after having 4Days
clearance.
4. FAD will pay the final settled amount after having final 2Days
settlement documents from HRD.
5. If separated staff has liabilities with the bank then the Reasonable
concerned department / owner of liabilities will take Time
initiatives.
6. HRD will send the personal file to “Orogenic”* after final
Once in a
settlement done in normal case. month
7. In case of unsettled matter HRD will hold the files. Until
settlement
Total Reasonable
Time
* Organic is a company which helps BRAC Bank to archive their personal files.

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Reward:
Reward and Recognition is a way to express appreciation for another employee's
hard work, dedication and contribution to the Bank. There are many levels of
Reward and Recognition, to ensure both small contributions as well as the larger
ones is recognized. There are four levels of rewards and recognition:

LEVEL 1: Individual Contribution Award & SME Monthly Award

LEVEL 2: Departmental Committee Award

LEVEL 3: Organizational Competence Award

LEVEL 4: Chairman’s Excellence Award

Spot award:

This is an award is given to employees on the spot recommended by the

customers or the employees very nicely handle any difficult client /situation.

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WORK SITED:
 Human Resource Manual of BRAC Bank Limited.
 Some information about HR from Nazmul karim, Associate
Manager, HR Policy, Legal & Employee Relations.

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