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The Foreign Exchange Regulation Act, 1947

( ACT NO. VII OF 1947 )

[ 11th March, 1947 ]

An Act to regulate certain payments, dealings in foreign exchange and securities and the import and export of currency and bullion.1♣

 
 
 
WHEREAS it is expedient in the economic and financial interests of Bangladesh to provide for the regulation of certain payments, dealings in foreign exchange and securities and the import and export of currency and bullion;
 
 
 
 
It is hereby enacted as follows:-
 
 
 

Short title, extent and commencementa
1. (1) This Act may be called the Foreign Exchange Regulation Act, 1947.
 
 
2[ (2) It extends to the whole of Bangladesh, and applies to -
 
(a) all citizens of Bangladesh;
 
(b) all persons resident in Bangladesh; and
 
(c) all persons in the service of the People’s Republic of Bangladesh wherever they may be.]
 
 
 
(3) It shall come into force on such date as the Government may, by notification in the official Gazette, appoint in this behalf.
 
 
 
 
(4) [Omitted by section 2 of the Foreign Exchange Regulation (Amendment) Act, 1952 (Act No. I of 1952).]
  • 1
    Throughout this Act, the words “Bangladesh”, “Government”, “the Bangladesh Bank” and “Taka” were substituted for the words “Pakistan”, “Central Government”, “the State Bank” and “rupees” respectively by section 3 and the Second Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973)
  • 2
    Sub-section (2) was substitued by section 2 of the Foreign Exchange Regulation (Amendment) Act, 2015 (Act No. XVII of 2015).
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