This follows a recent signing of the AMCO and AME (CAs) collective agreements for the period from January 1, 2018 to December 31, 2020 with Maybank, the banking group said in a statement today. He had a joint CA signing ceremony with the unions who said it is unprecedented in the banking sector. “I am grateful for the strong partnership between unions, employers and alliances at the industrial level. Mutual respect, common goals, great integrity and shared values will continue to anchor this partnership and strengthen cooperation. This collective agreement also reflects Maybank`s commitment to remain true to our founding principles of preserving the well-being of employees who have made a significant contribution to the growth of the organization,” said Nora. In his address, Mr. Nora thanked all parties for their cooperation, support and professionalism in securing a mutually beneficial agreement, especially in times of external uncertainty in the economy. The agreement, which covers the period from January 1, 2018 to December 31, 2020, provides that members of both unions will receive a 10% pay increase. This follows the signing with Maybank of the unions` collective agreement (CA) for the period from 1 January 2018 to 31 December 2020. This is the first time that AMCO and AME have signed with management. The agreements also introduce a new benefit in the form of a seven-day pilgrimage leave, which will allow eligible workers to fulfil and fulfill their religious obligations with additional flexibility. Maybank Class One Officers (AMCO) – Association of Maybank Executives (AME), the bank`s internal unions, which represent senior management and junior-officer general management, recently signed their collective agreements (CA) with Maybank for the period from January 1, 2018 to December 31, 2020.
The ceremony, at which the two unions signed with management, is unprecedented in the banking sector. The agreement also marks an important milestone for both unions in terms of their collective agreements with Maybank, including 10th place for AMCO and 9th place for AME. In addition, the amount of loans for the construction of personal housing will be increased by at least 43% over the existing amount. However, this will vary depending on employee compensation, but makes Maybank one of the lowest interest rates in the industry. The signing ceremony was celebrated by YB Tuan M. Kulasegaran, Minister of Human Resources, Ministry of Human Resources and Datuk Hj. Mohamed Shafie BP Mammal, President of the UNI Malaysia Labour Centre. In these collective agreements, their members benefit from a 10% wage adjustment, an increase in current benefits and allowances and the introduction of new benefits.
. Mr. Rama Rao Subramonian (President) and Mr. Prem Kumar a/l Appu Kutty (Secretary-General) signed, on behalf of AMCO, Mr. Haji Zainurin Zainal Abidin (President) and Mr. Puan Bindu Gridharlal Patel (Secretary-General) and Mr. Rama Rao Subramonian (President) and Mr. Prem Kumar