Algeria: Executives' drain, burning salary file jolt public banks

The national union of banks and insurance companies has turned down recent salary-hike proposals put forth by the human resources commission of the professional organization of banks and financial bodies in the banking sector as inappropriate.

The union described such proposals as unacceptable and held the members of the above-mentioned commission accountable for the risks of what it called  “social explosion”.

It further said that dialogue and concertation among the parties at issue remained the best way to hammer out adequate solutions to the workers’ pressing problems and to promote social stability and cohesion.

Several blueprints are currently examined by the authorities concerned as part of a plan of action aimed notably at increasing the salaries of the employees and executives of national public banks and promoting business skills.

The action plan is also designed to rehabilitate and modernize the Algerian Banking Sector to make it tally with the fast-evolving international standards.