KUALA LUMPUR, April 12 — After almost two years of negotiations, the National Union of Bank Employees (Nube) and the Malaysian Commercial Banks’ Association (MCBA) officially signed their 19th Collective Agreement (CA) today.
At the CA signing ceremony, Nube secretary-general J. Solomon said the agreement is effective January 1, 2021 until December 31, 2023, or until the CA is renewed.
He said over 20 non-financial and financial schemes and incentives were agreed upon through negotiations between the two parties thus benefitting and enhancing the status of banking sector workers, especially Nube members.
Among the terms agreed upon are salary adjustments of up to 18 per cent, payment of salary arrears since 2021 and a special payment of one month's salary for every main festive celebration.
"Nube and MCBA have worked hard to ensure that the CA is signed much earlier this time around so that Nube members could at least enjoy the results before this Ramadan ends," Solomon said.
Earlier, the media reported that some 17,000 clerical staff of commercial banks in Peninsular Malaysia are expected to receive salary hikes with the conclusion of their new CA.
— Bernama
