Banking sector facing new danger

AS it appears the era of collective bargain agents (CBA) system in banking sector is over and it is being replaced by Shwadhinota Bankers Parishad taking together all ruling party affiliated groups under one umbrella from May this year. Meanwhile any dissenting group appears nonfunctioning in the prevailing political climate.
Media report on Friday said various officers’ organizations which were dominating CBA activities in the banking sector have merged together under the new name like the Trade Union body of the physicians operating as front organization of the ruling party. Shwadhinota Bankers Parishad is being led by former Chhatra League leaders who got job in state-owned banks and financial institutions totalling over 11 banks and non-banks organizations. Leaders of the new Trade Union body are now actively involving in political programmes and mobilizing funds taking compulsory donation from around 70,000 officers of those organizations. They are asserting their influence in routine administration of such organizations such as promotion, transfer, posting etc. They are also alarmingly interfering in loan sanctioning to parties and opening of L/Cs and such other things where personal choice is overtaking bankers’ rules of business.
We have seen how CBA leaders were instrumental in destroying the banking sector in the past. But as things develop, the newly emerged system is almost appearing as a parallel administration in state-owned banking sector and its impact may be totally disastrous.
Banks and financial institutions can’t be left to the domination of ruling party cadres in banking sector, because it will destroy all discipline and block the way to developing efficient manpower when party cadre will be on the top list for promotion to higher posts. Moreover, loan sanctioning on political consideration along with misuse of fund by Union Leaders enjoying almost total impunity for accountability are bound to bring the banks and non-banks institutions to the brink. Most banks are already empty.
Prior to our Liberation War the whole nation was involved in political movement with selfless zeal. After we got independence the influence of politics steadily grew at all levels. Political leaders were reluctant to curb this tendency for short-time gain. Now it has become very difficult to establish discipline in many sectors while party leaders and cadres are exploiting political cover to achieve their objectives. Leaders are now more interested to establish party control overall organizations to stay in power and accordingly providing political support to all such moves. They are not concerned at all about the safety of banks and their deposits. In most cases leaders are also grabbers and swindlers instead of leader of the people.
In our view the government must take steps to protect banks and non-banking financial institutions as they may face bigger threats now from within.