The National Bank has drafted an employee service regulation for banks and financial institutions. The National Bank has drafted the regulation with the aim of bringing uniformity in the service facilities of all banks and financial institutions.

The National Bank has sought suggestions on the regulation by Asad 15. In which, amendments have been proposed to the appointment period of senior managers in banks and financial institutions, overtime (OT) hours, etc.

If the regulation is passed as it is, the bank or financial institution must deposit the amount to be allocated from the salary of the employees in service and on behalf of the institution into the fund every month as per the prevailing law. In cases where the amount to be allocated under the prevailing law is exempted, the amount to be allocated to the fund must not be reduced by the prevailing law.

However, if the limit of the amount that was being deposited earlier was more than the limit specified by the prevailing law, the draft proposes that there will be no problem in allocating it as per the previous arrangement.

Similarly, there is a provision that employees of banks and financial institutions who engage in sexual misconduct, physical contact, or sexual harassment in any other way in the workplace or in the course of work may be dismissed from service. It has been proposed that those involved in sexual misconduct may be withheld from their annual salary increment for one year or withheld from their promotions for one year.

The regulations also provide for the mandatory filling of the Chief Executive Officer (CEO) position of banks and financial institutions within 3 months of the vacancy. This is not a new provision. Even now, banks must appoint a CEO within 3 months of the vacancy.

The draft also proposes that other positions designated as managerial positions must be filled within 3 months of the vacancy.

It has been proposed that employees of banks and financial institutions will not be allowed to participate directly or indirectly in auctions, bidding and debt collection processes.

The regulations provide that employees can be appointed on a contract basis for a maximum of 6 months at a time only in cases where qualified and skilled manpower is not available, and that each employee will receive a festival allowance equivalent to 1 month's salary and allowance for major festivals celebrated according to their religion, culture and tradition.

According to the proposed draft, female employees will be entitled to maternity protection leave with full salary and allowances for up to 14 weeks before or after delivery. The regulations propose that further adjustments can be made as needed and that unpaid leave can be given for a maximum of one year on the recommendation of a specialist doctor.

Similarly, it has been proposed that high ethical conduct and honesty should be observed while dealing with customers and that no one should be involved in any activity that could tarnish the reputation of the institution.

The organizational structure of a bank or financial institution will be determined by the board of directors. However, if there is a need to change the existing structure, the arrangements will be made as determined by the committee after conducting an organizational and management survey, as mentioned in the draft bylaws.