NUBE stated bank staff are experiencing layoffs and bodily branches are being shut down at an alarming charge with out Bank Negara Malaysia defending them.
PETALING JAYA: 1000’s of bank jobs which might be below severe risk from digitalisation, the Nationwide Union of Bank Workers (NUBE) stated as we speak.
The union made the decision following the announcement by Deputy Finance Minister Mohd Shahrar Abdullah on Oct 7 that the federal government was trying into strengthening monetary expertise (fintech) insurance policies to additional develop digital monetary providers on this nation.
“It have to be famous that the federal government doesn’t downsize its workforce regardless of going digital with lots of its providers and operations.
“Likewise, the government and Bank Negara Malaysia (BNM) must not discriminate bank workers by rendering them obsolete and jobless so that the privileged few can enrich themselves, using the guise of pursuing fintech or digitalisation,” NUBE stated in a press release as we speak.
The union added that whereas its members aren’t opposing digitalisation, automation, synthetic intelligence and outsourcing for legitimate causes, they strongly object to the irresponsible use of expertise and outsourcing that may have an effect on their livelihood.
NUBE additionally wished reassurances from Putrajaya and the central bank on the matter as none have been forthcoming as but.
“We regret that neither the government nor Bank Negara have announced any comprehensive policy to protect the job security and livelihood of employees in the banking and the financial services sector,” it stated.
“Our leaders and BNM must not condone banks that lay off their workers, especially those from among the B40 and M40.”
Nube additionally known as for BNM to transcend merely advising banks to offer retraining for his or her workers within the wake of doable layoffs.
“Sadly, the central bank has but to behave firmly towards banks which have been fast to downsize their workforce, as a substitute of retraining and redeploying them.
“Bank employees are experiencing layoffs and physical branches are being shut down at an alarming rate.”
The Malaysian Employers Federation (MEF) has said beforehand that about 18,000 folks from the banking line misplaced their jobs as a result of introduction of “disruptive technology”, with extra banks advocating on-line banking to its clients.