Pay increases between 6,000 and 13,000 dinars for banking staff's wages in Algeria

Professional Assembly of Public Banks and Financial Institutions endorsed increases implementation ranged between six thousands to 13 thousands dinars. This to improve employees’ wages of 45 workers in public banks, estimated at 30 percent of the wages value. It will be applied for the current year 2008 while it reduced the professions’ amounts that are concerned with the jobs’ grants and it rose the value point of grants from 32 DA to 40 DA.

• In a meeting between the public banks’ managers and the banking institutions’ trustees, the assembly agreed on meeting the social partner’s desires by fixing the proposed wages’ increases at around 30 percent after it had been 20 percent as decided by the assembly.
• The assembly approved, on the other hand, during the negotiations about the wages’ compensatory system. That on valuing them at 10 to 20 professional positions in foreign banks, which caused immigration and drain estimated at 2,500 workers in recent seven years. Professions concerned with special grants “PVO” will be determined later on, in a meeting due to be held next Tuesday.
• It is noted that the assembly entrusted the implementation of the valuing grant to the General-Director of the bank and made it as one of his powers, or generalizing it at 25 professions, which was rejected by the social partner insisting on the professions’ identification of the same grant for workers without waiting for the bank’s general-director’s application and asking for a complete negotiation on the same grant with the workers’ representatives.
• With the initiation of the agreed upon increases implementation, the banks’ worker’s wage will increase to about 5,700 DA to 12,900 DA. General Directors’ increases will reach two million centimes and it was referred that the general banks’ workers- according to an official there- received wages between 18 thousand to 19 thousand dinars for officials about 2 million to 3 million centimes with allowances and grants. The normal worker earns a salary of 23 to 28 thousand dinars while the commissioner’s salary ranges from 35 to 43 thousand dinars and the general-director’s deputy in a public bank earns about six million centimes in addition to allowances and grants.He said that Public banks granted salaries similar to the public employment’s ones and not as a banking sector.
• For reference, the banks’ workers and insurance federation placed before the beginning of negotiations a “Semi-study” of the situation prevailing in private banks’ sector. It showed that is no insurance concerning workers. This was reported to the professional assembly of banks to open the wages’ file and rationally treat it, after delays in improving wages at the public banks’ level. This is also meant to avoid many tires’ migration – after recording 2500’s resignation since the private banks’ foundation- to 24 foreign banks settled in Algeria, shared by Gulf and French banks, like” The Gulf Bank”, “Société Générale” and “BNP Parisbas” French….. and others.
• Representatives of workers are looking for finding out an incentive sector’s policy to periodically review the salaries and granting administrative loans in addition to caring for the professional career. Public banks are experiencing daily tires’ immigration with more than ten employees per month, who have come to prefer working with foreign banks because of the high salaries there.
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