This website uses cookies to ensure you have the best experience. Learn more

Bangladesh Bank Essay

673 words - 3 pages

Bangladesh Bank

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 powers and functions of Bangladesh Bank are governed by various laws and acts including the Banker's Books Evidence Act 1891, Insolvency Act 1920, Banking Companies Ordinance 1962, Foreign Exchange (Regulation) Act 1986, Money Loan Court Act 1990, Banking Companies Act 1991, Financial Institutions Act 1993 and Rules 1994, Companies Act 1994 and Bankruptcy Act 1997.
Bangladesh Bank performed all the traditional central banking functions including the sole responsibilities of issuing ...view middle of the document...

The governor and the deputy governors of the Bank are appointed by the government for a period not exceeding five years and are eligible for reappointment.

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:

a) To regulate the issue of the currency and the keeping of 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 for the national...

Other assignments on Bangladesh Bank

About Gp Essay

1304 words - 6 pages SWOT Analysis of Grameen Phone ASSIGNMENT on SWOT Analysis of Grameen Phone Ltd. Course Title: Strategic Management Course Code: 610 Bangladesh Institute of Bank Management Mirpur-2, Dhaka-1216 SWOT Analysis of Grameenphone Ltd. Abstract: Grameenphone widely known as GP, is the leading telecommunications service provider in Bangladesh. With more than 32 million subscribers (as of June 2011), Grameenphone is the largest

Tactics Of Commercial Activities Essay

5381 words - 22 pages exporter for which they will apply for. Generally they go for the cash incentive. Foreign Exchange Policy Department (FEPD) of Bangladesh Bank (BB) has announced the rate ranging between 5 percent and 20 percent for the cash incentives. Exported goods that are produced locally and gone through a total procedure in Bangladesh will be eligible for the application of cash incentive. Generally, 5% cash incentive is provided on the realized amount of the

Economic Growth & Poverty Reduction In Bangladesh

3948 words - 16 pages Bank estimates Bangladesh ranks as the 58th largest economy in the world in terms of GDP. Despite its relatively modest GDP standing, Bangladesh is considered to be a developing country and ranks amongst the poorest in the world. The first decade of Bangladesh as an independent country was a tumultuous one and faired rather poorly on the key macroeconomic variables. For instance real GDP growth in 1974 was minus 4.1%, which can partly be

Absrux

9046 words - 37 pages telecommunication devices. The scope of offered services may include banking transactions, administering of accounts and access to customized information. Fast expanding mobile telephony in Bangladesh has opened up windows of opportunity for creative partnerships of banks and mobile telephone companies in devising cost effective arrangements for delivery of financial services. Bangladesh Bank (BB) has been encouraging such bank-led partnerships

E-Commerce

2118 words - 9 pages e-Commerce in Bangladesh * There is e-Commerce committee headed by commerce secretary * Ministry of Information and Technology is working for enacting a law regarding ‘Electronic Transaction act’ * Online order from foreign buyers has started * Online non-financial transaction has started by all banks from 31-07-202 * Intra Bank transaction started from 31-07-2003 * Some bank already started credit card system is limited

E Is Brng

2092 words - 9 pages mass, caused by the soaring prices of food items. Global food prices, based on United Nations records, rose 35 percent in the Source: Sunday Herald year to the end of January, markedly accelerating an upturn that began, gently at first, in 2002. Since then, prices have risen 65 percent. In addition, according to the Weekly Economic Times, Bangladesh Bank governor suggested that the country should prepare itself for a strong food reserve after the

Top Bangladeshi Business Icon

6525 words - 27 pages 616 million USD. Positions •   Chairman, Square Group. •   Chairman, Mutual Trust Bank board of directors Chairman, Astras Ltd. •   Honorary Member, Kurmitola Golf Club. •   Former Vice President, Baptist World Alliance, 1985-1990 Former Chairmen, Micro Industries Development & Services (MIDAS). •   Chairman, Transparency International, Bangladesh Chapter, 2004–2007. •   President, Metropolitan Chamber of Commerce

Baky

5354 words - 22 pages competitiveness gains would be offset by rising inflation. The Asian Development Bank (ADB) projects that the fiscal deficit in 2008 could be 4.2 percent of Bangladesh’s GDP, compared with 3.2 percent in the preceding year. Bangladesh needs to adopt both long-term and short-term strategies to cope with the global commodity boom. Long-term policies are beyond the scope of this paper. The authorities in Bangladesh can consider some medium to short-run

Stock Market Bangladesh

2424 words - 10 pages and invest in the share market to minimize the cost of bearing excess liquidity. This made a huge entry of liquidity in the share market. For that reason the daily transaction in the share market was on an average from Taka 20,000 to 30,000 million in 2010 and the figure was double comparing to 2009. To produce Bangladesh`s economy by 7-8% per year Bangladesh Bank adopted accommodative monetary policy during the high inflation periods to support

Early Life And Education

4963 words - 20 pages Prize, along with Grameen Bank, for their efforts to create economic and social development. In the prize announcement The Norwegian Nobel Committee mentioned:[2] [pic] [pic] Muhammad Yunus at the Grand Hotel in Oslo, Norway Muhammad Yunus has shown himself to be a leader who has managed to translate visions into practical action for the benefit of millions of people, not only in Bangladesh, but also in many other countries. Loans to poor

Sharif

1903 words - 8 pages and sources. This report seeks to provide readers with “all that they really need to know” about the scandal. The analysis tries to provide clear, simple answer to the following questions:    What happened? How did it happen? Why wasn’t the malpractice prevented or discovered sooner?   What has been the fall out? What is next? What happened? In May 2012, a report from the Bangladesh Bank revealed that the Ruposhi Bangla

Similar Documents

Doc Doc, Docx, Pdf, Wps, Rtf, Odt

1805 words - 8 pages ALSO IDENTIFIED THAT UNDERDEVELOPED BANKING SYSTEM CAUSES SOME OBSTACLES TO THE PROCESS OF ECONOMIC DEVELOPMENT. SO THEY HAVE HIGHLY RECOMMENDED FOR REFORMING FINANCIAL SECTOR. SINCE 1990, BANGLADESH GOVERNMENT HAS TAKEN A LOT OF FINANCIAL SECTOR MORE TRANSPARENT, AND FORMULATION AND IMPLEMENTATIONS OF THESE REFORM ACTIVITIES HAS ALSO BEEN PARTICIPATED BY DIFFERENT INTERNATIONAL ORGANIZATIONS LIKE WORLD BANK, IMF, ETC. IN 1996, WORLD BANK

Monetary Policy Of Bangladesh And Its Impact On Economy

321 words - 2 pages goals, targets and instruments of monetary policy. The goals refer to the objective which may be price stability or economic growth. Whereas the targets refer to the variables such as supply of money, bank credits and interest rates. The instrument ate the changes in supply of currency, bank rates and other interest rates, open market operation, changes in reserve requirement, selective credit contras. PRESENT MONETARY POLICY OF BANGLADESH: The

Climate Change Essay

570 words - 3 pages , temperature increase, evapo-transpiration losses, enhanced monsoon precipitation and run-off, potentially reduced dry season precipitation and increase in cyclone intensity would in fact reinforce the baseline stresses like yearly flooding, river bank erosion, salinity intrusion etc. that already poses serious impediment to the economic development of Bangladesh. A Number of studies have established the consequences of climatic effect on

Research On Currency Of Bangladesh Essay

4139 words - 17 pages remittance have relatively declined. As a result Bangladeshi Taka against dollars has depreciated. The exchange rate against the US dollar has dropped and the USD stands at 1:74.69 against taka in August. Figure: Exchange rate fluctuations over the month 2010-2011 Source: Statistics Department, Bangladesh Bank. Bangladesh Economic Review The nominal exchange rate of US dollar is 74.15 in June 2011 whereas it was 69.44 in June 2010. The