The Bangladesh Bank Order, 1972 (President's Order)

( ACT NO. 127 Of 1972 )

1[WHEREAS, it is necessary to establish a central bank in Bangladesh to manage the monetary and credit system of Bangladesh with a view to stabilising domestic monetary value and maintaining a competitive external par value of the Bangladesh Taka towards fostering growth and development of country’s productive resources in the best national interest;]

 
 
 
NOW, THEREFORE, in pursuance of the Proclamation of Independence of Bangladesh, read with the Provisional Constitution of Bangladesh Order, 1972, and in exercise of all powers enabling him in that behalf, the President is pleased to make the following Order:-
 
 
 

CONTENTS

SECTIONS

1. (1) This Order may be called the Bangladesh Ban

2. In this Order, unless there is anything repugna

3. (1) There shall be a bank to be called the Bang

4. (1) The capital of the Bank shall be Taka three

5. (1) On the appointed day the entire undertaking

6. (1) All suits, appeals, or other legal proceedi

7. Subject to the provisions of this Order and any

[7A. The main functions of the Bank shall be: (a)

8. (1) The Head Office of the Bank shall be at Dac

9. [* * *] (2) [The general superintendence] and d

[9A. (1) There shall be a Council for the co-ordin

10. (1) The Governor of the Bank shall be the Chie

11. (1) Meetings of the Board shall be convened by

12. [(1) There shall be an Executive Committee con

13. (1) No person shall be or shall continue to be

14. (1) The Directors nominated under sub-clause [

15. (1) The Government may remove from office- (a)

16. The Bank is authorised to carry on and transac

17. (1) Where, in the opinion of the Board or of t

[18. The Bank shall by notification in the officia

19. The Bank shall not, except as authorised under

20. (1) The Bank shall undertake to accept monies

21. The Bank shall make public from time to time t

[22. The Bank shall sell to or buy from any author

23. (1) The Bank shall have the sole right to issu

24. (1) Subject to the provisions of clause (2) al

25. Notwithstanding anything contained in Article

26. (1) The issue of Bank Notes shall be conducted

27. Bank Notes made and issued by the Bank shall b

28. The Bank shall not reissue Bank Notes which ar

29. Notwithstanding anything contained in any enac

30. (1) The assets of the Issue Department shall n

31. Notwithstanding anything contained in the fore

32. (1) The liabilities of the Issue Department sh

33. (1) The Bank shall issue Taka coin on demand i

34. The Government shall not re-issue any Taka coi

35. (1) No person in Bangladesh other than the Ban

36. [(1) Every scheduled bank shall maintain with

37. (1) The Bank shall maintain at all its offices

38. The Bank may require any Corporation with whic

[38A. The Governor shall at least once a year or a

[39. The Bank shall compile and publish in such ma

40. (1) The Bank shall prepare and transmit to the

41. (1) No suit or other legal proceedings shall l

42. In this Chapter, unless the context otherwise

43. The Bank may- (a) collect, in such manner as i

44. (1) For the purpose of enabling the Bank to di

45. (1) A banking company may, in connection with

46. (1) Any credit information contained in any st

47. No person shall have any right, whether in con

48. (1) If any banking company- (a) fails to submi

Omitted

59. Securities of the value of Taka three crores m

60. (1) The Bank may establish and maintain a Fund

61. The Bank may establish and maintain a fund to

62. (1) The Bank may establish and maintain a Fund

63. (1) The Bank may establish and maintain a Fund

64. After making provision for bad and doubtful de

65. (1) Not less than two Auditors shall be appoin

66. Without prejudice to anything contained in Art

67. (1) Every Auditor shall be supplied with a cop

68.[Omitted]

69. The Research Department and the Statistics Dep

[70. The Bank may subject to approval of the Gover

71. (1) For the purposes of section 124 of the Evi

72. Notwithstanding anything contained in any law

73. The Bank shall not be liable to the payment of

[74. The Bank shall not be liable to the payment o

75. Notwithstanding anything contained in the Inco

76. The Bank shall not be placed in liquidation sa

77. (1) If in the opinion of the Government, the B

78. (1) Except in the performance of his duties un

79. (1) The Governor may, by general or special or

80. (1) The Bank may, notwithstanding anything con

81. Whenever the Bank anticipates economic disturb

82. (1) [The Board] may make regulations consisten

83. In all laws mentioned in this Order and in all

84. (1) The State Bank Act, 1956 (Act No. XXXIII o