Repot Sakib
Repot Sakib
Repot Sakib
Prepared For-
SHOPNA CHOUDYOWRY
Lecturer, of UODA
Prepared By-
ST.ID-021183011
UODA University
Date of Submission
22 MARCH 2020
Letter of Transmittal
HR Policies Of Bangladesh Bank
Shopna
UODA University
Dear Mam,
Here is my report with the title “HR Policies Of Bangladesh Bank” which is a complete
study on Human Resource department of Bangladesh Bank and the activities that are done
by various wings of this department.
To make this report a commendable one, I have tried my best to assemble all applicable
data by which functions of HR can be properly understood. I trust that it will meet the
standard which I was recommended. Subsequent to breaking down the point I am
presenting this report for any sort through and expression gratitude towards you for ant
steady help and direction. I will be accessible for any grouping of this report, at whatever
point essential.
Yours Sincerely,
____________________
MD.AHSAN HABIB
ST.ID-021183011
UODA University
Acknowledgement
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HR Policies Of Bangladesh Bank
In the name of Allah the most Gracious and the most Merciful, without whose desire I
could not have completed the internship report successfully under the department of
Human Resources in Bangladesh Bank.
This report is entitled “HR Policies of Bangladesh Bank” and has been undertaken by
me, a student of BRAC Business School Department in BRAC University. It is an attempt to
realize the practical knowledge regarding Human Resource Department of Bangladesh Bank.
I feel proud to express my sincere appreciation and boundless gratitude, best regards
and respects to my honorable supervisor Ms. RAHMA AKHTER, lecturer of BRAC Business
School for her generosity and scholastic guidance, kind supervision, suggestion and
constructive comments in carrying out the internship work.
Also I express my deepest sense of gratitude, sincere appreciation and profound regards
to my official supervisor Md. OSMAN GANI MOLLAH, Deputy General Manager (DGM) of
Human Resources Department in Bangladesh Bank for his consult and kind co-operation
throughout my work experience.
Lastly, I also want to thank all the officers of Human Resource Department in Bangladesh
Bank for the unconditional support that they offered.
Table of Contents
Executive
Summary .................................................................................................................. 7
Chapter
One ............................................................................................................................. 8
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Introduction..........................................................................................................................
.. 8
1.1 Rationale of the
study ................................................................................................. 8
1.2 Objective of the
Study ................................................................................................. 8
1.3 Limitations of the
study ............................................................................................... 8
Chapter
Two ............................................................................................................................. 9
Company
Profile ..................................................................................................................... 9
2.1 Bangladesh bank the
Organization .............................................................................. 9
2.2
Vision ........................................................................................................................... 9
2.3
Mission ........................................................................................................................ 9
2.4 Organogram of Bangladesh
Bank .............................................................................. 13
Chapter
Three ........................................................................................................................ 14
Research Methodology ........................................................................................................
14
3.1 Data
Collection ......................................................................................................... 14
3.2 Sources of
Data .......................................................................................................... 14
3.2.1 Primary Data: ...................................................................................................... 14
3.2.2 Secondary Data: .................................................................................................. 14
3.3
Sampling: .................................................................................................................. 14
3.4 Variables
covered: ..................................................................................................... 15
3.4.1 Recruitment and Outsourcing Wing ................................................................... 15
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HR Policies Of Bangladesh Bank
3.4.1.1 Function of RO
wing .................................................................................... 15
3.4.1.2 Recruitment
Desk........................................................................................ 16
3.4.1.3 Outsourcing
desk ........................................................................................ 16
3.4.2 Planning Promotion and Transfer (PPT) Wing .................................................... 17
3.4.2.1 Responsibilities of PPT
Wing: ...................................................................... 17
3.4.2.2 Core functions of PPT
wing: ........................................................................ 17
3.4.2.3 Basis for Promotion
Evaluation: .................................................................. 17
3.4.2.4 Length of
Service ......................................................................................... 18
3.4.2.5 Basis for
Promotion .................................................................................... 18
3.4.2.6 Qualification
Marks: ................................................................................... 18
3.4.2.7 Panel for
Promotion .................................................................................... 18
3.4.2.8 Transfer
policy ............................................................................................ 18
3.4.3 Enterprise Resource Planning (ERP)
Unit ........................................................... 19
3.4.3.1 Branch Office Service unit
(BOSU) .............................................................. 20
3.4.4 Organization and Development (OD)
wing ........................................................ 20
3.4.5 Reward and Recognition
Wing .......................................................................... 20
3.4.6 Performance and Management
Wing ............................................................... 21
3.4.6.1 Performance planning for the
job: .............................................................. 21
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HR Policies Of Bangladesh Bank
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HR Policies Of Bangladesh Bank
4.2.1
Political .............................................................................................................. 31
4.2.2
Economic ........................................................................................................... 31
4.2.3
Social ................................................................................................................. 31
4.2.4
Legal .................................................................................................................. 31
4.2.5
Environmental ................................................................................................... 32
4.2.6
Technological .................................................................................................... 32
Chapter Five ...................................................................................................................
33
Findings ...............................................................................................................................
33
Chapter
Six ............................................................................................................................. 34
Recommendations ...............................................................................................................
34
Chapter
Seven ........................................................................................................................ 35
Conclusion ..........................................................................................................................
35
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HR Policies Of Bangladesh Bank
Executive Summary
Human Resource Department is the frame work for helping employees to develop their
personal and organizational skills, knowledge and abilities. Human Resource Department
provides opportunities as employee training, employee career development, coaching
monitoring, succession planning, identification and organization development.
Bangladesh Bank’s Human Resource Department provides various trainings and they are
able to create such a working environment where bankers gain the experience of leadership
and they are able to work perfectly in different wings. It will be better to introduce
Bangladesh Bank as the supervisor of the banking sector rather than the controller. In this
context, Human Resource Department of Bangladesh Bank can create a huge impact to the
development of the country. The whole process of Human Resource Department is followed
by strategic HR Management with proper tactics.
Bangladesh Bank’s aim should be to provide the required leadership by discharging its
duties in a manner that shows a clear vision, responsiveness and with efficient
communication strategy. Human Resources Department of Bangladesh Bank is very updated
and efficient one, as it produces committed and capable bankers who can guide and
monitor other banks in a progressive manner.
Chapter One
Introduction
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HR Policies Of Bangladesh Bank
Specific Objectives:
• There are some specific objectives as well. The specific objectives are given below:
• To investigate the recruitment, selection and promotion policies of Bangladesh Bank.
• To assess the human resource development policies and practices of Bangladesh Bank.
• To find out problems of HRD functions, processes, policies and practices.
• To make recommendations for solving problems and future developments.
• In preparing this report, it was difficult to communicate with the employees of the bank because
many of them were reluctant to respond.
• As an employee of Bangladesh Bank, there was a limitation not to disclose some data and information
for obvious reasons, which might be very much useful.
• The researcher could not be able to accommodate and spend enough time to make an in depth study
for giving time in my official work.
• No research report was available in the same area. That is why the researcher could not make any
depth study.
Chapter Two
Company Profile
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HR Policies Of Bangladesh Bank
for the Bangladesh, the Government of Bangladesh recognized the Dhaka branch of the
state bank of Pakistan as the central bank of the country and named it Bangladesh bank.
The reorganization was done pursuant to Bangladesh Bank order, 1972, and the Bangladesh
bank came into existence with fair effect from 16th December 1971.
The Powers and the functions of the Bangladesh Bank are governed by various laws and
acts including the Banker’s Book Evidence Act 1891, Insolvency Act 1920, Banking
Companies Ordinance 1962, Foreign Exchange (Regulation Act 1986), Money Loan Court act
1990, banking Companies Act 1991, Financial Institution Act 1993 and the rules 1994,
Companies act 1994 and Bankruptcy Act 1997. At Present it has ten offices located in
Motijheel, Sadarghat, Chittagong, Khulna, Bogra, Rajshahi, Sylhet, Barisal, Rangpur and
Mymensingh in Bangladesh.
2.2 Vision
To develop continually as a forward looking central bank with competent and committed
professionals of high ethical standards, conducting monetary management and financial
sector supervision to maintain price stability and financial system robustness, supporting
rapid broad based inclusive economic growth, employment generation and poverty
eradication in Bangladesh.
2.3 Mission
• Bangladesh Bank is carrying out its following main functions as the country’s central
bank:
• Formulation monetary and credit policies
• Managing currency issue and regulating paying system
• Managing foreign exchange reserves and regulating the foreign exchange market
• Regulating and supervising banks and financial institutions and advising the
government on interactions and impacts of fiscal, monetary and other economic
policies.
They shall catalyze and support social responsibilities and environmental sustainable
development initiatives, inter alia including fuller financial inclusion of under-served
productions sectors and bringing in needed new dimensions in financial markets and
institutions, to facilitate broad based growth in output, employment and income, for the
rapid poverty eradication and inclusive economic and social progress.
They shall adopt and implement monetary and credit policies confirming with national
priorities in coordination with governments fiscal and other macroeconomic objectives. We
shall optimize foreign exchange reserves and return thereon, maintain stability in financial
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HR Policies Of Bangladesh Bank
markets curbing excessive volatility and provides analysis and advice to the government on
issues in economic management and development.
For the depositors in banks and financial institutions, investors in financial assets
They shall ensure safety of deposits in licensed banks and financial institutions with on-
site and off-site supervisions of their activities and with adequate financial information
disclosure requirements, besides insuring small deposits. They shall maintain an interest
rate structure that provides fair return on financial assets while also supporting growth in
the real sector and we shall promote and support development of markets in bonds and
securities.
They shall provide precise prudential regulatory, risk management and disclosure
framework to protect solvency and liquidity of individual institution and stability of overall
financial system, acting as lender of last resort if and when needed. They shall issue
regulations and enforce compliance therewith inter alia on capital adequacy, asset
classification, income recognition and provisioning, large exposure and risk management,
through open consultative process. They shall maintain external sector visibility with
exchange rate stability and adequate foreign exchange reserves. They shall provide a secure
and quick payment settlement system. They shall promote and support development of
new financial products, services and instruments.
They shall maintain a solvent, liquid domestic financial system with precise prudential
regulatory, risk management and disclosure framework in line with global best practice
standards. They shall maintain external sector viability with exchange rate stability and
adequate reserves. They shall maintain a secure, quick payment system for settlement of
claims.
For the business community, including farm and non-farm SMEs
They shall maintain liquidity conditions and credit policies ensuring adequate credit
flows at market driven flexible interest rates for all productive economics activities,
including in sectors like agriculture and SMEs where market have not been very responsive.
They shall foster macroeconomic stability through monetary and external sector
management. They shall promote and support development of new financial products,
services and instruments. They shall maintain a secure and quick payment system for
settlement of claims.
They shall facilitate remittances from your earnings abroad to Bangladesh through
legitimate banking channels free of involvement of money launderers or terrorism
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HR Policies Of Bangladesh Bank
financiers. They shall support and promote development new investment opportunities for
your remittances to Bangladesh.
They shall maintain an environment that reinforce our pride in being employees of
Bangladesh bank with compensation structure adequate to attract and retain the best in the
market, job assignment and logistically well-resourced work situations encouraging
continues learning rewarding innovations and performance excellence by fast tracking in
career path, clear delegation and delineation of responsibilities and accountabilities,
fairness and objectivity in performance appraisal and personal placement decisions.
• As the central bank of Bangladesh the objectives of the Bangladesh Bank are:
• To regulate currency issuance and to keep foreign exchange reserves.
• To manage the monetary and credit system of Bangladesh with a view to stabilizing
domestic monetary value.
• To preserve the par value of the Bangladesh Taka.
• To Promote and maintain a high level of production, employment and real income of
Bangladesh and to foster growth and development of the countries productive
resources.
• To reserve the all rights of the bank.
Bangladesh Bank performs all core functions of a monetary and financial sector regulator
that it is along with a number of other non-core functions. Some of the major functions are
the Bangladesh Bank are as follows:
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Governor
Duputy Governor
Excuitive Director
General Manager
Joint Director
Deputy Director
Assistant Director
Officers
MLSS
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Chapter Three
Research Methodology
3.3 Sampling:
There are many departments in Bangladesh bank. The researcher has selected one
department (HRD) for primary data collection. Respondents were chosen randomly from the
department. The sample size was 20.
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HR Policies Of Bangladesh Bank
• Company Profile
• HRD processes Of Bangladesh Bank o Recruitment and Outsourcing o Planning ,
promotion and transfer o ERP Implementation Unit o Organization and development
wing o Recognition and reward wing o Performance Management wings o Benefits
and administration wing o Performance and discipline wing o Tanning and
development wing o BBTA
• Analysis and Findings
• Conclusion and recommendations
The researcher used different software to make report more presentable for the reader,
such as- Microsoft Word, Microsoft Excel.
• Recruitment Desk
• Outsourcing Desk
3.4.1.2 Recruitment Desk
Recruitment process: Planning, Promotion and transfer (PPT) wing assess the number of
vacant post fulfilling by direct recruitment. PPT wing take approval from competent from
competent authority to fulfill the vacancy. For this they send it to Ro wing for next course of
action.
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HR Policies Of Bangladesh Bank
• Advertisement
• Receding online application
• Open Tender/RFQ for selecting test taking institution
• Conducting written/Aptitude/practical test
• Viva Voce
• Preparation of Panel
• Approval of Panel
• Selection of Candidates from panel
• Primary Police clearance
• Issuing offer letter
• Acceptance of joining letter
No Category Marks
01 Performance Appraisal 70
02 Educational and Professional Qualification 20
03 Length of Service 10
Total =
100
Marks Distribution
Category Marks
Excellent 14
Very Good 10
Good 07
Satisfactory 04
a)
No Category Marks
01 Masters/Four year graduation 14
02 3 years honors graduation 12
03 2 years honors pass course 09
04 Higher Secondary School Certificate Examination 07
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HR Policies Of Bangladesh Bank
An Assistant Director in order to be eligible for promotion as Deputy Director must have
to complete a period of 5 years regular service in the position from which they will be
promoted. For each year of successful completion of service 2 marks will be awarded to
employee. The maximum number of years for which marks can be awarded needed to be 5
years.
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HR Policies Of Bangladesh Bank
Material
Management
Modules
ERP
Module
HR and Finance &
Control
Payroll module
3.4.3.1 Branch Office Service unit (BOSU)
This unit was established for quick responses of Head Office its branch office. It
maintains a relationship among other branches of Bangladesh Bank and department. Within
15 days if branch office didn’t have their answer in each month date of 2nd and 17th, they
will send email to respective Executive Director and BOSU ([email protected])
As Bangladesh Bank is also having its own projects they also do an internal valuation
with the other organizations. Functions of Bangladesh Bank are also to research on
economic condition of Bangladesh, they also publish data’s on economic matters and
advices the government on its policy formulation. Bangladesh Bank also plays a vital role to
promote foreign trade of our country and remove balance of trade difficulties through its
foreign exchange police. So this wing helps Bangladesh Bank to work faster and helps to
create an organized development process for our production resources.
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HR Policies Of Bangladesh Bank
The policy started from 2005 and it is enlisted in Bangladesh Bank Recognition & Reward
(BBR&R), 2006. Among all employees only 5 employees are rewarded or recognized. First
the wing asks to each department for the list of the employees who are capable to get
recognition and reward. In the list details of employee are included. They sort out the list
and then list will be send to the Board of Directors (BOD). After the approval those people
will be rewarded and such honor will be provided on the International Mother Language
Day.
3.4.6 Performance and Management Wing
The main function of this wing is to measure the performance of employees. Manpower
is the main resources in the modern time. Qualified applicant is more powerful than
unqualified applicant manpower. So performance measured of manpower is the necessary
policy to make manpower as an important element, but this policy is new in HR department
of Bangladesh Bank. Previously Bangladesh Bank followed ACR (Annual Confidential Report)
to measure performance of employee. At present Bangladesh Bank follows PMS
(performance Management System) which is included by some Phases and they are:
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HR Policies Of Bangladesh Bank
the EBR form to evaluate his performance and then department will take step to give them
coaching, counseling, training and so on to improve their quality.
• Goal
• Weighted %
• Achievement
• Rating
• Weighted rating
No Rating Points
01 Excellent 91% and above
02 Very Good 81%-90%
03 Good 71%-80%
04 Satisfactory 61%-70%
05 Unsatisfactory 60% and below
IF there comes any negative gap to any competency problem then they take another
action to overcome the gap. This action plan can be created from the following:
• Comment
• Development needed
• Action Plan
In this method Bangladesh Bank gives the promotion to the employees in their rating
performance. After receiving the APF form for the final measurement, an arbitration
committee/moderation committee is to be made by the HOD to make the system more
logical through biased information. In between the department if there are any linkage,
then upper level authority makes a committee EMT (Executive management team) to
reduce such linkage and then the department achieves the actual rating which they desire.
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HR Policies Of Bangladesh Bank
Internal Administration
• Applications are invited from eligible employee through circular for accommodation
allotment.
• Quarter is allocated among the employee.
• If any employee takes house building loan to build house at Dhaka, then he/she
could stay at quarter at 10 years.
• If any employee takes house building loan outside Dhaka, then he/she could use the
quarter’s facility.
Casual Leave:
Casual leave which is taken by the employees need to deal with their related
department in which they are appointed.
Ordinary Leaves:
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HR Policies Of Bangladesh Bank
This desk deals with keeping records of ordinary leave from employee.
Maternity Leave:
Maternity leave is not counted as an ordinary leave it has been settled as and special
leaves which allows the female employees of Bangladesh Bank to have a leave of six months
when such leave is required
3.4.7.2 Welfare
Re-imbursement of medical expenses:
For operation purpose, not for diagnosis 90% of the total bill will be reimbursed for the
medical expenses of an employee of his/her eligible dependents.
3.4.7.3 Stipends
Governor welfare fund:
The funds are administrated by Board of Trustee (BOT). This stipend is sanctioned for the
daughter/son of the employees of Bangladesh Bank who did well in the Secondary School
Certificate Examination (S.S.C) and also in the Higher Secondary School Certificate
examination (H.S.C). Such facility is offered to the employees of all categories form officers
up to Joint Director.
Stipends are also sanctioned for the C and D categories employees who have completed
and did well in their Secondary School Certificate Examination (S.S.C) and also in the Higher
Secondary School Certificate examination (H.S.C).
Internal employees of Bangladesh bank must maintain the rules and regulations of the
bank. Procedures of the wing are:
3.4.8.1 Punishments
The punishments that the provided to the employees are:
• Reprimand.
• Delay and stoppage of the promotion or increment.
• Degradation to a lower post.
• Compulsory retirement
• Removal from service
• Dismissal form service.
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• In House Training
• BBTA Training
• Out Reach Training
The Head of the BBTA is the Principal who is in charge of the total supervision of the
Training Academy; it is also a part of Head office. Expenditure budget of BBAT is settled by
the Head Office which in Mothijeel. All activity of Bangladesh training academy is divided
into 10 sections and on the beginning of each year an annual program calendar is made by
consulting the head of the Training Academy. 10 wings of BBTA are:
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Chapter Four
Analysis
Strength Weakness
Opportunity Threats
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HR Policies Of Bangladesh Bank
4.2.1 Political
Human Resources Department of Bangladesh Bank hold the power of doing recruitment
and outsourcing for Bangladesh Bank and there are some posts that are highly influenced by
the political situation of the country, for example Deputy governor and Governor post of
Bangladesh Bank are the political post that are recruited by the political parties and such
decisions are taken due to the political aspects it creates a great impact as the total
monetary policy are led by them.
4.2.2 Economic
Bangladesh Bank has got experts and economists who are involved in the Board of
Director panel and their main duty is to plan annual budget and they are also involved in the
industry trend analysis. They are mainly known as the think tanks of Bangladesh Bank. This
economist provides Bangladesh Bank by forming task force with a duty to negotiate with
international organization like ADB, World Bank, JAICA etc. Their major duty is to monitor
money flow in our economy so that inflation can remain a tolerable stage. They are also
engaged in deciding interest rates and suggest hoe commercial banks will operate in
Bangladesh. Human Resources Department of Bangladesh Bank conducts the selection
process of these experts through massive research. And thus they contribute in our
economy.
4.2.3 Social
Bangladesh Bank has got their own training center known as BBTA (Bangladesh Bank
Training Academy) at Mirpur and over there they conduct training for both Bangladesh Bank
employees and for other private banks and companies also. Training of various joint courses
is offered which not only increase skills but also enrich the way of working. Seminar,
Workshops and training on different aspects of the country are arranged which helps
Bangladesh Bank to contribute in the social welfare of the country. There is a saying that
Bangladesh Bank provides training to the total Banking industry of Bangladesh.
There are cultural clubs in Bangladesh bank who arranges various functions related with
numerous occasions of our countries culture and traditions.
4.2.4 Legal
Human Resources Department of Bangladesh has got a specific wing which is
Recruitment and outsourcing and there are some specific norms and rules which they need
to abide by, there have been no such incident of breaking any rules for a very long period
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HR Policies Of Bangladesh Bank
and due to having a fear of losing job employees refrain themselves form unethical
activities. So it is obvious that the recruitment process is done in a legal way. Planning
Promotion and Transfer wing (PPT) does all the confidential activates by following all the
legal notices and evaluating the employees for promotion is done under legal authenticity.
Apart of that all other wing provides their services legally and by maintains the banks
regulations and standards.
4.2.5 Environmental
Human Resources Department of Bangladesh Bank maintains the BCD category and the
MLSS employees who deal with external factors of Bangladesh Bank. Bangladesh Bank
plants lots of trees around their premises and on every occasion the plant trees and
contribute funds to keep tree plantation project alive. All the ten branches of Bangladesh
Bank are decorated with beautiful flower trees and they have got a separate unit for
maintaining them. Some initiative were taken by the former Governor to plant more and
more trees in the colony and hostels of Bangladesh Bank which not only highlighted banks
motive but also helped creating a desire for healthy environment in peoples mind.
4.2.6 Technological
Human Recourses Department of Bangladesh Bank invests a huge portion of their
allocated budget in buying high tech machineries and keeps their employs updated with the
advanced technology. In every floor there is high tech security system and each and every
employee is provided with a scan able ID card which they need to punch in every floor while
entering. All the employees are provided with most updated desktop and after every one
year new updates are provided. The security system of the entire Bangladesh Bank is very
strict and Bangladesh Bank invests a huge portion of money to bring updates and
improvements in them.
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HR Policies Of Bangladesh Bank
Chapter Five
Findings
Chapter Six
Recommendations
The Human Resource Department of Bangladesh Bank is running wealthy. Some factors
should be included and be conscious which are suggested below:
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HR Policies Of Bangladesh Bank
• The employee complaint box should be set up in HRD so that the HR specialist can
realize the employee’s problem and can solve.
• Software Application Process (SAP) should be used widely in all wings of HRD
because this will help Bangladesh Bank to have and manage accurate information
and the chance of mismanagement will get reduced.
• Bangladesh Bank should increase their incentive packages, so that employees can
increase their productivity and turnover rate will decrease.
• Employees should be given opportunity of knowledge sharing such as scope of
presenting and discussing matters and experiences that they learn from foreign tours
and abroad training.
• Performance appraisal should be developed which will be used in performance
improvement, adjustment, placement decisions, career planning and development.
• The limitations of the communication should be analyzed and need to take proper
steps as this is one of the major issue in which Bangladesh Bank is lacking.
Chapter Seven
Conclusion
Bangladesh Bank is the central bank of Bangladesh. Its activities are important for the
development of the people of Bangladesh. Bangladesh Bank has a great role to survive the
other NCBs and private banks in different kind of administration. Human Resource
Management is one of the vital administrative points to control the whole banking system.
If Bangladesh Bank can implement the world class human resource management system
then it can motivate and convince the other banks to update their administration for human
resource management as Bangladesh Bank training Academy provides training to all the
banks in Bangladesh. It has got a huge amount of manpower to do all the functions of this
organization. An organization gains success by producing skilled and effective manpower
and for that Human Resource department of Bangladesh Bank is working day and night and
that’s what I saw while doing my internship. Since as the central bank, Bangladesh Bank is
well known by most of the people, it just need to maintain its activity with proper
dedication and should show consistency in their workflow.
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