B Mirror Desk: Labour and Employment Adviser M Sakhawat Hossain cautioned Premier Bank yesterday, suggesting that the bank could encounter serious repercussions if it fails to release the cash incentive funds from Bangladesh Bank for garment workers’ salaries prior to Eid.

This situation arises as Premier Bank is opting to use the cash incentive fund to offset a previous loan to Apparels Eco of TNZ Group, rather than providing the funds directly for workers’ salaries. Workers from TNZ Group have been protesting due to delays in receiving their salaries and bonuses.

“You must release the funds. If you do not, and if your bank refuses to comply, you will be held accountable,” he stated during a media briefing at the secretariat.

Sakhawat further warned that he would consider filing a criminal charge against the managing director of Premier Bank if the funds are not released. “The money we provided to the bank is specifically for salary payments to workers—there is no allowance for loan adjustments with these funds.”

He emphasized that if the bank fails to disburse the money, the government will interpret this as the bank and its owners acting against the interests of the state.

Attempts to reach Mohammad Abu Jafar, the managing director and CEO of Premier Bank, for comment were unsuccessful. However, a bank official, who requested anonymity, stated, “We have already disbursed the payment, which was done with approval from the central bank.”