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Bangladesh Bank |
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Bangladesh
Bank
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Bangladesh
Bank (BB), the central bank and apex regulatory body for the country's
monetary and financial system, was established in Dhaka on 1971. The
commercial banking system dominates Bangladesh's financial sector.
Bangladesh Bank is the Central Bank of Bangladesh and the chief regulatory
authority in the sector. |
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Like all
other central banks across the globe, 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.
Bangladesh
Bank as the central bank of Bangladesh executes all the functions that a
central bank traditionally performs as elsewhere in the world. BB performs
all the core functions of a typical monetary and financial sector regulator,
and a number of other non core functions. The major functional areas include
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Formulation and implementation of monetary and credit policies;
Regulation and supervision of banks and non-bank financial institutions,
promotion and development of domestic financial markets;
Management of the country's international reserves;
Issuance
of currency notes;
Regulation and supervision of the payment system;
Acting as banker to the government;
Money Laundering Prevention;
Collection and furnishing of credit information;
Implementation of the Foreign exchange regulation Act; and
Managing a
Deposit Insurance Scheme.
In achieving the functions as mentioned above, the Bank commits itself to
providing effective support functions through a sound banking and financial
control system, appropriate information system and the development of
competent and qualified staff.
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Bangladesh
Bank |
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HQ
Address: |
Dhaka
Bangladesh |
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Telephone: |
+880 2 9550 773 |
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Facsimile: |
+880 2 9566 212 |
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Website: |
www.bb.org.bd |
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SWIFT Code: |
BBHOBDDH |
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Currency: |
Taka |
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Banking Hours: |
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Monday - Friday 9.00am - 5.00pm |
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The financial system of Bangladesh consists of Bangladesh Bank (BB) as the
central bank, 4 State Owned Commercial Banks (SCB), 4 government owned
specialized banks, 30 domestic private banks, 9 foreign banks and 29
non-bank financial institutions. Moreover, MRA has given license to 298
Micro-credit Organizations. The financial system also embraces insurance
companies, stock exchanges and co-operative banks. At present it has nine
offices located at Motijheel, Sadarghat, Chittagong, Khulna, Bogra, Rajshahi,
Sylhet, Barisal and Rangpur in Bangladesh.
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