XYZ BUSINESS can confirm that the National Labour Commission has set up an arbitration committee to resolve the impasse between management and workers of Ghana Commercial Bank.

The workers are agitated over conditions of service and other matters. The committee comprises of Professor Kofi Quashigah, Martin Nwosu and George Asamoah.

XYZ BUSINESS has learnt the arbitration committee will meet next week and is expected to conclude work in two weeks time.

The GCB workers are demanding 35 percent increment in salaries and 20 percent of basic salary for rent allowance.

They also want the Managing Director, Simon Dornoo sacked for allowing the payment of 12.5 percent of employer contribution to the Provident Fund in favour of management staff who are on contract.

XYZ BUSINESS understands management could get a favorable response from the arbitration.

One of the reasons is senior staff members are enjoying between 80 and 100 thousand dollars worth of mortgage while junior staff members are enjoying between 60 and 80 thousand dollars.

The NLC had to intervene in the stalled negotiations on the 2013/2014 Collective Bargaining Agreement to prevent staff unrest in the bank.