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The newly independent government immediately designated the Dhaka branch of the State Bank of Pakistan as the central bank and renamed it the Bangladesh Bank. [9] The bank was responsible for regulating currency, controlling credit and monetary policy, and administering exchange control and the official foreign exchange reserves. [9]
According to the Bangladesh Bank Order, 1972 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 with retrospective effect from 16 December 1971. Other than Bangladesh Bank, banks in Bangladesh are primarily categorized into two types: Scheduled ...
The bank grew significantly between 2003 and 2007. As of January 2022, the total borrowers of the bank number nearly 9.5 million, and 96.81% of those are women. [8] In 1998, the Bank's "Low-cost Housing Program" won a World Habitat Award. In 2006, the bank and its founder, Muhammad Yunus, were jointly awarded the Nobel Peace Prize. [9]
This sector is mainly represented by Specialized Financial Institutions like House Building Finance Corporation (HBFC), Palli Karma Sahayak Foundation (PKSF), Samabay Bank, Grameen Bank etc., Non-governmental organizations (NGOs) and discrete government programs. The informal sector includes private intermediaries which are completely unregulated.
The bank did not inform the Registrar of Joint Stock Companies And Firms about their ownership as required by law. [8] In 2000, there were ten non-scheduled banks in Bangladesh. [11] MBI Munshi was made the chairman of the bank in 2002. [8] In September 2018, Bangladesh Bank appointed Md Shah Alam, a director of Bangladesh Bank, chairman of the ...
Bangladesh Financial Intelligence Unit (BFIU), a department of Bangladesh Bank, is a member FIU of the Egmont Group of Financial Intelligence Units. Bangladesh Bank is the first central bank in the world to introduce a dedicated hotline (16236) for people to complain about any banking-related problem. [4]
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