Malaysia is one of Asia's biggest employers of foreign labour. But recently, cases of deaths, abuse and forced labour have come to light. What is going on? Who is protecting these migrant workers?
The union’s general secretary J Solomon said Bank Negara’s role as a regulator
for the banking industry does not give it the jurisdiction to interfere in the
relationship between employers and employees of financial institutions.
<p>"This means Bank Negara has no authority to approve the retrenchment of
bank employees," he argued, reacting to a news report quoting chairperson
of CIMB-BCB executive committee, Nazir Razak, as saying that the central bank
had given the green light to the proposed retrenchment exercise.</p>
<p>The mass retrenchment exercise came in the wake of the merger of two major
banks – BCF and Bumiputra-Commerce Bank.</p>
<p><b>No retrenchment provision</b></p>
<p>Solomon stressed that BCF is bound by the collective agreement between the
Malayan Commercial Banks Association and NUBE, which has no provision for the
bank to carry out a mass retrenchment.</p>
<p>"NUBE is seeking an explanation from Bank Negara as to why it had taken
such a drastic action, which is unlawful and causes injustice and damages to
the livelihood of bank workers and their families."</p>
<p>He added that the central bank’s approval is not only "unlawful"
but also flew in the face of the assurance it had once given to NUBE that there
would be no retrenchment of workers as a result of mergers and acquisitions
among banking institutions.</p>
<p>Following the assurance, which was made in the late 1990s, NUBE has extended
cooperation during the merger and acquisition exercise by maintaining good industrial
harmony in the banking sector as well as the financial well-being of the nation.</p>
<p>He also stated that NUBE had sent a letter dated Sept 21, 2005 to the central
bank in regards to the proposed merger between Bumiputra-Commerce Bank and BCF
requesting that the merger be to put on hold as there were rumours possible
mass retrenchments. </p>
<p>"To date, we have not received any reply from Bank Negara," he added.
Address: Wisma MTUC,10-5, Jalan USJ 9/5T, 47620 Subang Jaya,Selangor | Tel: 03-80242953 | Fax: 03-80243225 | Email: sgmtuc@gmail.com.com