On 3 June 2008, we reached an agreement with MCBA on COLA.  This agreement was concluded in the presence of the Honourable former Prime Minister, YAB Dato’ Seri Abdullah Haji Ahmad Badawi.

This was done in the spirit of mutual respect and understanding. But we are disappointed to note that MCBA never intended to keep their end of the bargain.                   

The COLA to be paid was RM 100.00 with effect from 1.1.2009.

We wrote to MCBA more than once urging them to honour the agreement and pay NUBE members the COLA of RM 100.00.

Shockingly, MCBA tells us that COLA will not be paid immediately.  Instead they want to negotiate it in the new CA.

MCBA is stooping so low and manipulating their position as negotiators for 24 commercial banks for a mere RM 100.00 COLA.  This is a classic example of abuse of position and it is utterly disgusting.

Dear Brothers/Sister, not only are we denied the COLA at a time when the rising cost of living is taking a toll on our finances and causing severe hardship, we also now realise MCBA is led by dishonourable people who are not deterred from defaulting on their promise despite the agreement made and witnessed by our former Prime Minister and Minister of Finance II.

• We will not let this matter rest here!   
• We deserve the COLA! 
• We will push this forward till we get what is due to us – COLA RM 100.00!

One for All & All for One

J Solomon

General Secretary