KUALA LUMPUR: The Association of Bank Officers, Peninsular Malaysia (ABOM) and Malayan Commercial Banks' Association (MCBA) signed their 10th collective agreement (CA) on Tuesday, ending a one-year deadlock.
MCBA president Hamidah Naziadin said the agreement marks a significant milestone in the industry, with bank officers preferring a performance-based reward system to contractual bonuses. She said the performance-based system was in line with the global banking industry's remuneration system. "The system ... will give flexibility to banks to reward the right officers in promoting their products and services to customers," she said after the signing of the 2006/2008 CA.
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