HBL retires its employees by following banking rules: NA informed

ISLAMABAD: Minister for State for Finance, Revenue and Economies Affairs, Rana Muhammad Afzal on Tuesday informed the National Assembly that Habib Bank Limited had retired its employees by following the banking rules.

He stated this while responding to a calling attention notice moved by Sheikh Salauddin regarding termination of the services of employees of Habib Bank limited (HBL) by giving them pre-mature retirement.

The minister said that banking sector was moving towards modernization and automation and it required the services of well equipments individuals to run the affairs of the bank.

He said that employees had been retired after the following their employments contract and reaching to 25 years of services.

He said that the retired employees had been given one month advance salary along with other benefits.

He said if the employees think the bank decision was unjustified, they could approach the court. He said that HBL was totally private bank and the government had no share in it.

The minister said Habib Bank Limited was not involved in any money laundering and $225 million fine imposed on it in the United States was due to its mismanagement and ineligibility of the staff.