Umno Youth has urged prospective buyers of RHB Bank Bhd to clarify its human resource policies for clerical and non-executive staff once the deal goes through.

The movement’s leader Khairy Jamaluddin said that there is concern over their fate because it is almost likely that some workers will be retrenched as a result of the acquisition.

“Umno Youth urges any party which succeeds in acquiring RHB Bank to ensure that the welfare and interests of workers in RHB Bank and their own banks are protected,” said Khairy in a statement today.

rhb bank Federal government-owned Maybank Bhd and CIMB Group Bhd are now competing to acquire RHB Capital Bhd, which is RHB Bank’s parent company.

Khairy said that aspiring bidders must not only disclose its human resource policies in regard to the deal but also state its share price offer.

“This is important to ensure that the buyers are not only capable of improving RHB Bank’s business potential but are also responsible and fair to workers,” he said.

He said that the buyer must not only offer voluntary separation schemes (VSS) but also training for those who would be retrenched to ensure that they are still employable.

Maybank and CIMB Group, which is led by the younger brother of Prime Minister Najib Abdul Razak, are locked in a battle to become South-East Asia’s biggest bank by acquiring RHB Bank.

Currently, RHB Bank is ranked as the fifth biggest bank in the country. Its biggest shareholder is the Employees Provident Fund (EPF).