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Bangladesh Bank

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Bangladesh Bank
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Bank / Bank & Finance / Business & Commerce
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13
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Bangladesh Bank, the central bank of the country, was established as a body corporate vide the Bangladesh Bank Order, 1972 (P.O. No. 127 of 1972) with effect from 16th December, 1971. The general superintendence and direction of affairs and business of the Bank are entrusted to a nine member Board of Directors which consists of the Governor as chairman, a Deputy Governor, three senior government officials and four persons having experience and proven capacity in the fields of banking, trade, commerce, industry or agriculture - all nominated by the government. The board, which is the highest policy making body, meets at least six times a year and at least once every quarter under the chairmanship of the Governor. The Governor, appointed by the government as the chief executive officer, directs and controls all the affairs of the Bank on behalf of the Board.The broad objectives of the Bank are : To regulate the issue of the currency and the keeping of reserves; To manage the monetary and credit system of Bangladesh with a view to stabilizing domestic monetary value; To preserve the par value of the Bangladesh Taka; To promote and maintain a high level of production, employment and real income in Bangladesh; and to foster growth and development of the countrys productive resources for the national interest

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