The Central Bank distributed money despite the Court of Accounts

It turned out that the payment of 2 to 4 salaries that the Central Bank made to all its employees before the election, under the name of compensation for performance, contradicted the warnings made by the Court of Accounts to the bank’s management.

When examining the accounts of the Central Bank, the Court of Accounts determined in its 2019 report that the bank’s management made additional payments to the senior management group of 140 people under the name of performance compensation, and that these payments were not in line with the purpose. of the legislation

In its report, the Court of Accounts indicated that performance must be based on certain success criteria and that the payment directed only to managers did not match the expected performance and warned the bank’s management to correct the error.

CONVERTED INTO ADDITIONAL BOAT

The report said:

“The performance appraisal system reveals that while it was geared toward getting Bank employees to achieve the desired level of productivity, it went out of its way and became an additional bonus payment to top executives. Performance pay must not become a means of paying bonuses to executive positions other than its purpose.”

The bank’s management took the warning into account and introduced a new system in 2020, which provides for the payment of 1 salary to those with A+ performance and half a salary to those with A- performance, regardless of the manager-employee distinction. The Court of Auditors, which found the new regulation fit for purpose, wrote in its report that the problem was eliminated.

However, the bank’s management changed the system the day before, against the warning of the Court of Accounts two years ago, and paid 4 salaries to executives and 2 salaries to other employees. Contrary to the warning of the Court of Accounts in terms of payments, the direct manager-employee distinction instead of performance was interpreted as the purpose of the bank to distribute money before the election, outside its purpose.

EXCEED 100 MINIMUM WAGES

In addition to the warnings from the Court of Accounts, the Central Bank, which was unable to perform successfully in the fight against inflation, provoked reactions when it made large payments to its employees under the name of performance. It is estimated that the amount of performance paid to each very high-salary senior civil servant exceeds the salary of 100 minimum wage earners.