FAB Workers Get Perk Rise

Unionized workers at First Alliance Bank (FAB) have been awarded a salary increment of K1, 250 across the board. This follows successful conclusion of negotiations for the 2019 full collective agreement.

And the bank has welcomed the central bank’s directive for all commercial banks to remove unwarranted charges on customer’ accounts, saying the move will promote financial inclusion.

Speaking during the signing ceremony in Lusaka on September 21, ZUFIAW Acting General Secretary Mr. Mutelo Mabenga said the union was delighted with the outcome of the bargaining unit. He encouraged management to embrace the habit of constant engagement with the union as it was important in harnessing mutual understanding; thus making negotiations easy.

Mr. Mabenga assured management that workers were committed to ensuring that the bank continued performing well as that was also the source of their income.

And FAB chief executive officer, Mr. Cyril Patro thanked the union for exhibiting high levels of understanding on the operations of the institution. He said the level of maturity showed by the negotiating teams from both sides was encouraging.

Mr. Patro also said the banking community had a responsibility to ensure inclusive growth in society. He therefore hailed the Bank of Zambia for making commercial banks remove unwarranted bank charges.

“Bankers are there to make people save their money. The move by the Bank of Zambia is important as it will making banking more affordable and inclusive ,” he said.

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