Formation and Management of Central Bank

Without one or two exceptions, all central banks of the world are formed under government ownership. In Bangladesh, central bank is known as "Bangladesh Bank". In Bangladesh Bank, as a chief of management, Governor is performing his responsibilities. As a chief of executive, deputy governors are co-operating the Governor.

In 1971 Bangladesh was born as an independent country. Being felt the necessity of a central bank, as a symbol of sovereignty, with the intension of economic restructuring of the financial sectors, Bangladesh Bank started its journey on 31 October in 1972 by the order named as "President Order - 127" in the Dhaka Office of the Local Deputy Governor of the then State Bank of Pakistan.

However, effecting from 16 December, 1971 this ordinance was declared as the permanent and active rule of Bangladesh Bank. Bangladesh Bank is directed under the government ownership and is controlled  by the same Governing Body of which the executive chief is Governor. 4 Deputy Governors, 12 Executive Directors and 1 Financial Advisor assist the chief Executive. Moreover, Bangladesh Bank includes other officials in its management. Look at the organogram of Bangladesh Bank below:

On the basis of divisions, functions of Bangladesh Bank can be classified as follows:

1. Note Issuing division

2. Banking Division

3. Accounts Division

4. Administrative Division

5. Banking Control Division

6. Bank Auditing Division

7. Exchange Control Division

8. Statistics Division

9. Secretariat Division

Next Post Previous Post
No Comment
Add Comment
comment url