Dated : January 22, 2008
Senior Executive Vice President &
Head of SME Banking
Jiban Bima Bhaban
10, Dilkusha C/A
Dhaka – 1000
RE: LEGAL OPINION ON THE DRAFT SERVICE RULES/POLICIES OF BANK 1.
We refer to your instruction dated 22 January, 2008 on the above subject.
We have perused the draft Service Rules/Policies (“Service Rules”) of Bank 1 (“BANK 1”) and our comments on the Service Rules are as follows:
From the provided information it is not clear as to whether the Service Rules will apply only to non-worker (i.e. officers employed mainly in a managerial or administrative capacity) or whether the Service Rules will apply to workers (i.e. labours) as well.
If the Service Rules applies to workers as well then the provisions of the Service Rules will have to correspond and comply with the provisions of the Labour Code 2006. And the Service rules have to be submitted to the Chief Inspector for his approval (Section 3 (2) of the Bangladesh Labour Act 2006). The Service Rules will only be effective after the Chief Inspector has given his approval to it (Section 3 (3) of the Bangladesh Labour Act 2006).
Also note that, in accordance with Bangladesh Bank BRPD Circular No. 16 dated July 24, 2003, the Service Rules have to be framed and approved by the Board of Directors of BANK 1.
Apart from the above observations, the terms and conditions of the Service Rules are otherwise in order.
If you have any further query, please do not hesitate to contact us.
The Lawyers & Jurists M.L.Hotel Tower Ltd,
208, Shahid Syed Nazrul Islam Sarani,