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Bangladesh Bank Order, 1972

(President’s Order No. 127 of 1972)

Incorporating all amendments thereto upto March 10, 2003

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DEPARTMENT OF PUBLIC RELATIONS AND PUBLICATIONS BANGLADESH BANK, HEAD OFFICE, DHAKA [Published in the Bangladesh Gazette, Extraordinary, Part IIIA, dated the 3lst October, 1972]

GOVERNMENT OF THE PEOPLE’S REPUBLIC OF BANGLADESH MINISTRY OF LAW AND PARLIAMENTARY AFFAIRS

(Law Division)

NOTIFICATION

No. 935-Pub. —31st October, 1972 —The following Order made by the President, on the advice of the Prime Minister of the People’s Republic of Bangladesh on the 31st October, 1972, is hereby published for general information: GOVERNMENT OF THE PEOPLE’S REPUBLIC OF BANGLADESH MINISTRY OF LAW AND PARLIAMENTARY AFFAIRS (Law Division) President’s Order No. 127 of 1972 THE BANGLADESH BANK ORDER, 1972 [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 d omestic 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;]1 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: CHAPTER I PRELIMINARY 1. (1) This Order may be called the Bangladesh Bank Order, 1972 (2) It extends to the whole of Bangladesh. (3) It shall come into force at once and shall be deemed to have taken effect on the 16th day of December, 1971. In this Order, unless there is anything repugnant in the subject or context, (a) “appointed day” means the 16th day of December, 1971; (b) “approved foreign exchange” means currencies declared as such by any notification under Article 18; (c) “Bank” means the Bangladesh Bank; [(cc)“banking company”...