Bangladesh Bank asks banks to launch health insurance for staff

Staff Correspondent | Published: 22:23, Apr 15,2020 | Updated: 22:52, Apr 15,2020


The Bangladesh Bank has asked all the banks to pay up to Tk 10 lakh as health insurance to employees who would become ill with the coronavirus while performing their duties during the general holiday and a maximum of Tk 50 lakh as special grant in case of death from the virus on the basis of the employees’ positions.

The central bank issued a circular in this regard on Wednesday with the directives coming into effect from March 25 till one month after the end of the general holiday.

The government has announced a general holiday from March 25 to April 25 to curb the spread of the novel coronavirus in the country. 

However, the BB has asked the banks to keep a required number of branches open for a limited period to facilitate financial transactions for their clients during the holiday.

The circular said that a number of bank officials had already been infected with COVID-19 while performing their duties at the banks.

The central bank declared the health insurance and special grant in recognition of the services being rendered by the bank officials who were risking their lives during the pandemic, the circular read.

The circular said that officials who would become infected with the virus while performing their duties by being physically present at their workplaces during the holiday would be provided with a minimum of Tk 5 lakh and a maximum of Tk 10 lakh as health insurance on the basis of their official positions.

The banks concerned will decide the amount in accordance with their official designations and must pay the amount within 15 days after an employee becomes infected.

The banks would bear the actual medical expense of the infected employee.

In the event of an employee’s death from the COVID-19 virus contracted while performing their duties, the banks concerned would pay a special grant equal to five times the value of the employee’s health insurance to his or her family.

The banks would not be allowed to adjust the grant with other liabilities and would provide other facilities in accordance with their existing policy.

If an employee sustains any injury in any accident while performing his or her duty during the holiday, the banks would also bear the actual medical expense of the employee concerned.

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