Banks ordered to take tests of new recruits

Banks must arrange competitive written and oral exams for entry-level job applicants and at least oral tests for experienced candidates applying for higher ranks, the Bangladesh Bank said in a notification on Monday.

The central bank also ordered the commercial and scheduled banks to verify the educational and experience records of their new entry-level and higher-ranking appointees by contacting the concerned certifying agencies.

The records of new recruits must be verified by the end of the first year of appointment, and those of existing employees must be completed within 31 March next year, the notification adds.

The entry-level appointees are usually fresh university graduates and do not need to have prior experience in the banking or financial sector to apply. The jobs include management trainee officer, senior officer, probationary officer, trainee assistant officer, junior officer and cash officer.

Their recruitment process will have to transparent, free, open and competitive, Bangladesh Bank said.

Written tests can be based on multiple-choice questions or essay-type writing and can also be taken online, the central bank’s notification says.

Verifying other documents

Banks also must cross check the relevant documents submitted by employees seeking additional financial benefits or promotions by dint of new educational qualifications, training outcome and experience records.

Any contractual appointment process, except those for advisory positions, must also adopt similar verification process.

The banks must impose strict organisational penalties against both newly listed and existing employees if any fraud is found during the verification process.

The Bangladesh Bank has also asked all the banks of the country to prepare a comprehensive set of human rights policies ensuring stability in the sector and safeguarding depositors’ interests. The regulations must be kept up-to-date to meet contemporary demand and be approved by the board of directors.