Bangladesh Bank

Infobox Central bank
image_1= BBK-LOGO.gif
image_title_1 = Bangladesh Bank Monogram
image_width_1 = 208
bank_name_in_local =
headquarters = Dhaka
established = 16 December 1971
president = Dr.Salehuddin Ahmed
leader_title = Governor
bank_of = Bangladesh
currency = Taka
currency_iso = BDT
reserves =
website = http://www.bangladeshbank.org.bd

succeeded =
footnotes =

Bangladesh Bank is the Central bank of Bangladesh.

History

After the liberation war, and the eventual independence of Bangladesh, the Government of Bangladesh reorganized the Dhaka branch of the State Bank of Pakistan as the central bank of the country, and named it Bangladesh Bank. This reorganization was done pursuant to Bangladesh Bank Order, 1972, and the Bangladesh Bank came into existence with retrospective effect from 16 December 1971.

Objectives

As the central Bank of Bangladesh, the broad objectives of the Bank are :

a) To regulate currency issuance and to keep foreign exchange reserves;

b) To manage the monetary and credit system of Bangladesh with a view to stabilizing domestic monetary value;

c) To preserve the par value of the Bangladesh Taka;

d) To promote and maintain a high level of production, employment and real income in Bangladesh; and to foster growth and development of the country's productive resources.

Functions

Bangladesh Bank performs all the functions that a central bank of any country is expected to perform, and such functions include maintaining the price stability through economic and monetary policy measures, managing the country’s foreign exchange and the gold reserve and regulating the banking sector of the country. Like all other central banks across the globe, Bangladesh Bank is both the Government’s banker and the banker’s bank, a “Lender of the Last Resort”. Bangladesh Bank, like most of the central banks of different countries, exercises monopoly over the issue of currency and the banknotes. Except for the 1 and 2 taka notes, it issues all other denominations of Bangladeshi Taka.

Organisation

The highest official in the bank is the Governor (currently Salehuddin Ahmed). The Governor chairs the Board of Director. The Executive Staff, also headed by the Governor, are responsible for the day to day affairs.

Current Board of Directors

Chairman
*Dr. Safwan Bin Musa Director
*Md. Nazrul Huda
*Dr. Wahid Uddin Mahmud
*Dr.Momtaz Uddin Ahmed
*Dr.Sufia Ahmed
*Dr. Hossain Zillur Rahman
*Dr.Mohammad Tareque
*Mr.Jafar Ahmad Chowdhury
*Mr. Muhammad Abdul Mazid Secretary
*A.T.M. Nasiruddin

Current Executive Staff

Governor
*Dr. Salehuddin Ahmed Deputy Governor
*Md. Nazrul Huda
*Ziaul Hasan Siddiqui
*Md. Murshid Kuli KhanExecutive Director
*Md. Nazmul Hoque
*Md. Asaduzzaman Khan
*Khandakar Muzharul Haque
*Md. Abul Quasem
*Nazir Ahmed Khan
*Habib Ullah Bahar
*Md. Yasin Ali
*A.T.M. Nasiruddin
*Md. Abdul Matin

Former Governors

*A.N.M. Hamidullah 1972-1974
*A.K.N. Ahmed 1974-1976
*M. Nurul Islam 1976-1987
*Shegufta Bakht Chaudhuri 1987-1992
*Khorshed Alam 1992-1996
*Lutfar Rahman Sarkar 1996-1998
*Dr. Mohammed Farashuddin 1998-2001
*Dr. Fakhruddin Ahmed 2001-2005

ee also

*Bangladeshi taka
*Economy of Bangladesh

External links

* [http://www.bangladesh-bank.org/ Bangladesh Bank official site]