CIMB Bankís Fatherís Day Gift: Offering One-Month Fully Paid Paternity Leave
How does Malaysia compare with international standards?
CIMB Bank just recently announced that they will be enhancing their paid paternity leave by increasing it from three consecutive working days to one month (30 consecutive calendar days) for new fathers (meaing firstborns only). CIMB Group's chief people officer Datuk Hamidah Naziadin said, “These enhanced paternity benefits enable our eligible staff to play a more supportive parental role and establish a stronger bond with their firstborn.” The new enhanced policy complements the bank’s staff rejuvenation programme, which allows employees to take up to six months of unpaid leave for personal reasons, including extended maternity/paternity leave, and maintain their current (senior) position at the bank. In April, Standard Chartered Bank introduced fully-paid maternity leave for female employees of 20 calendar weeks, while male employees will enjoy two calendar weeks of paternity leave. We compare what the other countries have to offer:
Singapore: 2-weeks of paid paternity leave funded by the Government with terms that your child is a Singapore citizen, you are or had been lawfully married to the child's mother between conception and birth. (Not applicable for adoptive fathers)
Australia: Financial support for up to 18-weeks for a newborn or recently adopted child. In the case of a stillbirth or infant death, you may still be eligible for Parental Leave Pay or Stillborn Baby Payment.
Sweden: Swedish parents now receive a total of 480 days of leave per child (birth child or adopted child), 390 days of which is paid at 80 per cent of salary. Two months of this is reserved for the man, and the rest can be shared between the parents however they prefer.