The New Nation - Internet Edition

Lower wages for Bangladeshi women raise concerns about discrimination: ILO study finds

BUSINESS REPORT

A new International Labour Organization (ILO) study suggests that discrimination may be preventing women in Bangladesh from earning the same wages as men.

The working paper - the first of its kind - found that even after controlling for factors such as differences in age, education, industry, type of occupation and geographical location, the gender wage gap is an estimated 15.9 percent. And when segregation by industry and occupation is also factored in (women tend to be grouped in lower-paying industries and do not have access to the same types of jobs), the overall wage gap increases by 7.2 percentage points to an estimated 23.1 per cent.

Using a simple average - not qualified by any of these factors - women earn 21 per cent less per hour than men.

"This survey gives us a clearer picture of what is driving the large differences between men's and women's earnings in Bangladesh. One key finding is that the gender wage gap is not fully explained by differences in education, age and job location. Another is that segregation of the sexes into different industries and different types of occupations in the country is driving down women's average wages" said Steven Kapsos, a labour economist at the ILO's Regional Office for Asia and the Pacific and the study's author. "This has far-reaching consequences for individuals, society and policy makers".

The findings are based on the largest occupational wage survey ever conducted in Bangladesh. The study gives the first estimates of gender wage gaps by industry, education, and workplace size that also take into account workers' age, occupation and geographic location. It also offers the first quantitative estimates of the effects of occupational segregation on men's and women's wages. The data were collected by the Bangladesh Bureau of Statistics (BBS) with technical and financial support from the ILO, the United Nations agency dealing with work and workplace issues.

The BBS survey collected data on earnings of more than 60,000 men and women in 150 locations across the country. 202 occupations in 37 non-agricultural industry groupings were analysed, including manufacturing, construction, hotels and restaurants, finance, education, and health and social work. The survey also collected data on employees' age, gender, educational background, industry, occupation, hours of work and geographic location. The ILO study focuses on data for 40,943 workers for which hourly wage rates could be calculated from the survey data.

The largest male-female wage gaps were found in the construction, hotel and restaurant industries (in which women earn an average of 30 percent less than men), among workers with primary education or less, and in mid-sized enterprises (10-99 workers). The smallest gaps are in the service industries (education, health and social work).

Education plays an important role. The study shows that as women's education increases, the male-female wage gap decreases, because women tend to see more benefits from additional education in terms of earnings than men. Women who have not completed primary education earn an average of 22 per cent less than their male equivalents, but this differential narrows to only four per cent for those with secondary education and eight per cent for those who have completed tertiary education.

"Wage levels are directly linked to living standards and therefore it is very important to understand why women tend to earn so much less than men in Bangladesh," Mr. Kapsos said. "The survey results indicate that women's unequal access to certain types of jobs is one key factor. Policy makers need to consider measures to reduce occupational segregation and promote education for all as a way of improving gender equality and raising living standards."

Prime Campus school opened at city's Uttara

STAFF REPORTER

The formal inauguration of Prime Campus, an English medium school at Uttara by Prime Bank Foundation, was held on Sunday. The Foundation, a non-profit subsidiary of Prime Bank Limited, has established Prime Campus with the aim of making high quality, value-oriented education more affordable to all. Based on international education standards and theory, Prime Campus promotes the holistic development of its students and fosters their natural love of learning.

The school is beginning at the Nursery and Kindergarten levels, with expansion to include upper grades in the coming years. Professor M Tamim, Special Assistant to the Chief Adviser for the Ministry of Power, Energy, and Mineral Resources, spoke as chief guest. Fr Benjamin Costa, Principal of Notre Dame College and Azam J Chowdhury, Chairman of Prime Bank Limited and Foundation spoke as special guests. Other speakers were Dr William C Engels, American Principal of Prime Campus; Mahbubul Alam, Acting Managing Director of Prime Bank Limited; and Dr Iqbal Anwar, Chief Executive Officer of Prime Bank Foundation. Senior officials of Prime Bank Limited were also present on the occasion.

Pubali Bank holds seminar on foreign trade, foreign exchange

BUSINESS REPORT

A seminer titled "Foreign Trade and Foreign Exchange" was held at the Pubali Bank Head Office organised by Pubali Bank Training Institute recently. Managing Director of Pubali Bank Ltd Helal Ahmed Chowdhury was present as chief guest at the workshop.

In a short speech, Helal Ahmed Chowdhury said that though foreign exchange business increased substantially from previous year, still there is a scope to draw more business in respect of potentiality of the foreign exchange business.

He asked the officials concerned to increase overall foreign exchange business in order to cope with the changes in the environment of the global banking sector.

The Managing Director emphasised to explore and expand foreign exchange business by maintaining regular contacts with the importers and exporters and applying modern IT solutions in order to keep the pace of advancement of business in the present competitive scenario.

Helal Ahmed Chowdhury advised to work hard to increase remittance rendering best customer services. He further advised all officials to be meticulous in compliance of instructions of Head Office, Bangladesh Bank, Securities and Exchange Commission and other regulatory bodies.

Principal of the Training Institute Badruddin Ahmed and faculty member DGM Sushil Kumar Paul were present at the seminar.

Premier Bank introduces new savings account for students

BUSINESS REPORT

In honour of the students who will play an important roles to build the country and will bring pride on the occasion of their glorious success, thinking of that The Premier Bank Ltd has brought out a easy and modern banking facilities branded as Premier Genius Account.

The Genius Account will offer Highest Profit on Daily Balance 2. Any Branch Banking 3.Free online Banking 4. VISA Debit Card 5.Free Pay Order Service and 6. Premier Priority Service.

The marketing innovation is a smart introduction of a new member in the evergreen avenue of its deposit products. To mark the occasion a befitting launching ceremony was held on 30th August, 2008 at Iqbal Centre, Banani, Dhaka. The Vice Chairman of the bank BH Haroon inaugurated the high spirited launching Premier Genius Account. Bank's Director Abdus Salam Murshedy was also present on the occasion as special guest. He thanked the management to give such kind of specialized account for the genius students of the country.

Addressing the ceremony as chief guest BH Haroon expressed his deep satisfaction over the progress of the bank. He said that success and saving will guide the students an enriched future by the Premier Bank Genius Account offers. Bank's Director Abdus Salam Murshedy and special guest of the programme also spoke on the occasion.

Khondker Fazle Rashid, Managing Director of the bank also spoke on the occasion. Describing the key features of the product, the Managing Director said in his speech that under the programme, people above 18 years students will get extra benefit of the bank for their deposits.

He assured the media personalities that the coming days the bank will come many others products and Services for their valued clients.

Among others Md. Mokhlesur Rahman, Addl Managing Director, Bank's Head of Corporate Dewan Anwarul Latif and other high officials from different branches and Head office were also present.

DBBL signs remittance service deal with BPO

BUSINESS REPORT

Dutch-Bangla Bank Limited (DBBL) has signed a 'Remittance Service Agreement' with Bangladesh Post Office (BPO) to facilitate disbursement of remittances received from different exchange houses in abroad through designated post offices at the remotest parts of the country.

Under this agreement, the local beneficiaries of the expatriates living abroad will receive the remittances at their doorstep by on-line banking facility or the best mode of communications through post offices.

In this connection, a signing ceremony was held at the DBBL Head Office, Dhaka on September 1, 2008. Mobasherur Rahman, Director General of Bangladesh Post Office and Md Yeasin Ali, Managing Director of Dutch-Bangla Bank Limited signed the agreement on behalf of their respective organizations.

Among others, senior executives of both the organisations were present at the signing ceremony.

Standard Bank holds 54th meeting of EC

BUSINESS REPORT

The 54th meeting of the Executive Committee of the Board of Directors of Standard Bank Ltd was held on August 28 in the Board Room of Head Office of the bank.

The Executive Committee (EC) Chairman Kamal Mostafa Chowdhury presided over the meeting.

It was attended by members of the Committee Abdul Ahad, Farzana Yousuf, Md Ziaul Haque Khondker and Shaikh Mesba Uddin.

Among others, Managing Director (CC) SA Farooqui, DMD Md Nazmus Salehin and Board Secretary AFM Nizamul Islam Chowdhury were present at the meeting.

The EC took various important decisions regarding the bank's investment policy in the field of trade, commerce and industries and approved proposals received from different branches in respect of financing of working capital for industries and other import, export and commercial trading businesses in the meeting.

Borrowers' meeting held at Sonali Bank branch in Ctg

BUSINESS REPORT

Sonali Bank Limited, the largest state owned commercial bank of the country, has been observing 'Loan Recovery Fortnight.' On the occasion, a borrowers meeting for exchange of views was recently held at its KC Dey Road Corporate Branch, the bank's main branch at Chittagong.

A considerable number of borrowers of the branch joined the meeting. Presided over by the branch head Mesbah Ul Haq, Deputy General Manager, the meeting was also attended by Karobi Mujib, General Manager in charge of loan recovery at the Head Office, and Mushtaque Ahmed, General Manager, Chittagong as the chief guest and special guest respectively. The special guest highlighted various aspects of reform programmes recently undertaken by the bank.

He reiterated that the reform programmes will yield various benefits for the bank, its employees and the clients at large though that might take some time. Putting emphasis on timely repayment of bank loans he clearly mentioned that default loans not only cause problems for the bank but also for its regular clients. He urged all concerned for taking proper actions towards repayment of default loans. A few borrowers also spoke on the occasion and put forward their suggestions for bank's compliance.

In her speech, the chief guest explained overall financial condition of the bank and urged the borrowers for repayment of default loans to help improve the condition, otherwise, the situation might be different and incongenial.

She underscored for taking the opportunity of various schemes including interest remission to escape the miseries of default loans. Agreeing to reasonable suggestions, she however assured the borrowers of all-out support of the management in helping them bailing out of the burden of default loans. As a token of the drive an amount of about Tk 3 crore was recovered at the meeting from defaulters.

Exim Bank opens Data Centre

BUSINESS REPORT

Export Import Bank of Bangladesh Limited opened its Data Centre in the city recently.

Chairman of the board of directors of the bank Md Nazrul Islam Mazumder inaugurated the Centre as the chief guest, said a press release.

Among others, Chairman of IT Steering Committee and Director AKM Nurul Fazal Bulbul, members of the board of directors Md Habibullah, Nurul Amin Faruk, Mohammed Shahidullah, Abdullah AI-Zahir Sapan and Mahbubur Rashid, sponsors and former directors Md Mazakat Harun and Md Nur Hossain and Managing Director Kazi Masihur Rahman were present at the inaugural function.

Speaking on the occasion, the chairman said Exim Bank has taken a new frontier for its customer through the Data Centre. This Centre will also provide the customers with all IT and online banking information.

Additional Managing Director Ekramul Haque and deputy managing directors Md Sirajul Islam Bhuiyan and Mohammed Haider Ali Miah were also present on the occasion.