News
CB willing to revise salary increase
View(s):A majority of the senior management and professionals of the Central Bank (CB) have ‘made a collective decision to consider a revision to their salaries’, which were increased recently, the Central Bank (CB) said in a statement yesterday.
It said this decision was communicated to the Committee on Public Finance (COPF) on March 16 prior to and independent of the recommendations made by COPF.
The banking regulator said the decision to suspend the salary increase was taken after the salary revision for the period 2024-2026 drew public condemnation and much discourse among the public.
“The COPF Chairman has (in the) meantime recommended that the collective agreement to increase the salaries of CB staff be reviewed by an independent committee, entailing revisions across all employee categories of the CB,” the statement said.
The CB is held accountable in achieving and maintaining domestic price stability and securing stability of the country’s financial system. “To achieve this critical national mandate, the CB employs many experienced and professional staff under its wing and the recent salary revision was made with the intention to retain its experienced staff in order to function at its full capacity,” the statement said.
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