We have been receiving numerous calls over the CIMB Memorandum dated 30.10.2009, a directive by the Director, CIMB Group Corporate Resources to all employees on the salary account and usage of CIMB Credit Card. Having read the Memorandum, we are shocked by the control CIMB is trying to assert on its employees.
First, all management employees were told to open savings account with other banks for the crediting of their salary. This, although the bank claimed was for “confidentiality”, the real reason was to prevent any leakage of information over the huge amounts of rewards paid to the management. Now, they claim they have addressed the “confidentiality” issue and so, all employees are to open savings account with CIMB but no counter transaction. You also cannot transfer funds from your salary/bonuses to other banks. And, you must only use CIMB credit card for official work.
This is a joke! You have a bank account that restricts your freedom to banking transaction to only ATM and online transactions. That is not all; you even lose your rights as a consumer in using the credit card of your choice.
Is this for loyalty/branding or frankly is CIMB losing out to other banks? From the looks of it, the latter is highly possible CIMB may be losing out to other banks and so CIMB employees are forced to use the CIMB products. This is absolute abuse of authority and invasion of a customer’s rights (employees are customers of the bank too). This is definitely an unethical tactic of competing with other banks.
Can a government link company (GLC) - CIMB impose such condition on its employees? This is yet another act of “bullying” by CIMB. Such actions tarnish the image of the Government and the concept of 1Malaysia (Rakyat didahulukan Pencapaian diutamakan).
We have reported this to BNM and the Minister of Domestic Trade and Consumer Affairs for their necessary action. In the meantime, if you are subjected to the disgraceful conditions, contact NUBE immediately.
By the way, our opinion on the RAM Ratings, CIMB should not get too carried away with the “Triple A/1P” rating as the rating does not reflect CIMB’s social responsibilities towards its employees.
One for all & all for One
J Solomon
General Secretary