United Bank’s Employees Protest Today For Better Financial Conditions

1300 out of 1800 employees of the United Bank plan to held a protest and a sit-in today in front of the bank’s branch in Dokki against the policies of the board of directors chaired by Mohamed Ashmawy. They call for improving the work and financial conditions and setting general rules of career advancement to be not based on favoritism. The employees also demand dismissing the highly-paid consultants appointed by the bank, approving a healthcare program for pensioners and raising the end-of-service benefits.

Sources at the bank said the employees held a sit-in after 2011’s revolution and the deputy governor of the Central Bank of Egypt at that time Hisham Ramez negotiated with them and made the United Bank’s board of director sign an agreement vowing to address their demands, but they did not meet any demands till now. The only demand that the board met is solving career decline.

 The bank’s board of directors created a special job description to appoint consultants from outside the bank, sources added, noting that there is favoritism in appointment and career advancement.

The board of directors stopped promotions after 2011’s revolution without giving any reason, and then activated the movement of promotions at the beginning of this year for the board’s acquaintances only which enraged the employees.

The employees stated that they will continue their sit-in until the resignation of the board of directors and the fulfillment of their demands.

Sources revealed that the employees have asked the board of directors to address their demands for several times, but they were ignored. The employees also tried to meet the governor of CBE Hisham Ramez as he witnessed the agreement with the board of directors two years ago, but they could not because the governor works on addressing the challenges facing the Egyptian economy.