Q. Prepare
a memorandum for the Board of Directors to allow a car loan facility for senior
officials of the bank.
Social
Investment Bank Ltd
Head
Office
Dilkhusha
Commercial Area
Dhaka
1000
(Common
Service Department)
Telephone:
02-715 000 Facsimile: 02-715 2339 Email: siblcommonservice@siblbank.com
Our
Ref: Board Memo/carloan/CS01/09
Wednesday,
May 14, 2009
CAR
LOAN FOR SENIOR OFFICIALS
Social
Investment Bank Ltd (SIBL) has at present 87 sedans, 25 jeeps and 12 pickups
which are being officially used all over Bangladesh. Of these vehicles, 50
sedans are allotted to executives, from Assistant Vice Presidents to Managing
Director, for their alltime use.
Each executive has to pay Taka 300 every month against this facility of using
the bank’s motor vehicles both for their office and home uses.
The
bank has to defray an annual expense of Taka 6 lac for one sedan allotted to
each of the executives on account of fuel, driver’s salaries, maintenance,
depreciation cost and insurance premium.
It
has been observed that families of the executives can’t spare their allotted
sedans for any official use of the bank, as they have to use the cars for their
domestic purposes day and night.
Considering
exorbitant maintenance cost of sedans and also with a view to providing an
incentive to the bank officials all other private banks and some of the
state-owned banks have already
introduced car loans to their executives at bank
rate and in some cases at ‘no interest’
in addition to a monthly allowance for maintenance of cars.
If
the board of directors decides to give car loans of Taka 15 lac each to all the
executives at an interest rate of 2% along with monthly car allowance of Taka
25 thousand the bank will save 40% expenditure on account of maintenance of
sedans now being allotted to the
executives.
If
approved, the proposition may be placed at the next meeting of the Board of
Directors for their consideration.
Maswood
Alam Khan
General
Manager
Managing
Director
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