Central Bank, BIGWU agree on 6% salary increase

THE Central Bank and the Banking Insurance and General Workers Union (BIGWU) have concluded collective bargaining agreement negotiation for the period from January 1, 2021- December 31, 2023.

In a statement on October 3, the bank said those talks ended on October 2 with the signing of the relevant collective agreements by both parties.

The bank said the collaborative process resulted in improvements in certain terms and conditions for staff represented by BIGWU, including a six per cent general salary increase over the period, improvements in certain allowances, enhancements to the motor vehicle loan facility and the paternity leave upon the birth of a child.