Introduction
Banking sector of Bangladesh started its journey with a
visionary dream and commitment for establishing equity and social justice along
with growth and development after the independence in 16th December,
1971. Central Bank was designated on the Dhaka branch of The State Bank of Pakistan renamed it as Bangladesh Bank under BangladeshBank Order 1972 (President’s order no 127 of1972),
where it said
WHEREAS, it is necessary to establish a central bank in Bangladesh to manage the monetary and credit system of Bangladesh with a view to stabilizing domestic monetary value and maintaining a competitive external par value of the Bangladesh Taka towards fostering growth and development of country’s productive resources in the best national interest.
Functions
of Bangladesh Bank
Bangladesh Bank basically responsible for all
the core functions that are done by all the monetary and financial sector
regulators. Besides the core functions, Bangladesh Bank is also responsible for
some other supporting functions. The functions of Bangladesh Bank are cited in below:
 |
| Bangladesh Bank |
- To formulate and implement monetary and credit policies.
- To regulate and supervise and monitor financial intermediaries like banks and non-bank financial institutions.
- Currency issuance and circulation across the country.
- Payment system management.
- Holder and manager of FX reserve of the country.
- Bankers to the Government.
- To prevent money laundering.
- To implement Foreign exchange regulation Act.
- Preserve all credit information.
