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Finance Committee urges BoG to pay former bank staff severance packages

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Parliament is pushing for the payment of severance package for workers of the defunct UT and Capital Banks within the shortest time possible.
A figure has already been agreed upon and according to sources, it was calculated as 2.5 (two point five) multiplied by a month’s basic salary and again multiplied by the number of years that one has worked at the company.
UT and Capital Banks collapsed about a year ago and workers are yet to receive their severance packages.
At a briefing after the second day of Parliament’s probe into the collapse of seven indigenous Banks, Chairman of Parliament’s Finance Committee, Dr Mark Assibey-Yeboah said in the case of Beige, Sovereign, Construction, Royal Banks and Unibank, auditing firm KPMG have contracted labour consultants to work on the severance package for the workers.
He said that negotiations with the workers’ unions will begin Today.

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