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Bangladesh Bank

Recent Reform Initiatives

Bangladesh Bank
(Central Bank of Bangladesh)

Recent Reform Initiatives

Table of Contents
Foreword Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Chapter 8 Chapter 9 Chapter 10 Chapter 11 Annexure 1 Annexure 2 Currency management and payment systems Regulatory reforms Supervision of banks and financial institutions Financial inclusion Foreign exchange policy and reserve management Anti Money Laundering and Combating Financing of Terrorism Central Bank Strengthening Project Corporate Social Responsibility Green banking: Banking for environmental protection Digital Bangladesh Bank HR Development and capacity building Recent policy announcements by BB Glossary of terms and acronyms 4 7 11 14 17 21 24 27 30 32 35 39 41 57

Foreword
The role of financial sector regulators came under sharp scrutiny worldwide following the global financial crisis of 2008.The Bangladesh economy and its financial sector came out largely unscathed from the crisis, with timely and proactive policy responses. Bangladesh Bank (BB), the country’s monetary authority and financial sector regulator opted to proceed further forward, hastening ongoing reforms and taking up fresh ones, based on a new five year Strategic Plan for 2010-2014 drawn up in the November 2009 senior management executive retreat. Unorthodox policy approaches supportive of inclusive, environmentally sustainable growth gained new impetus, alongside core functions of surveillance and safeguarding of macroeconomic and financial stability. Major areas of reform include: Ensuring growth objectives supported by Bangladesh Bank’s focused credit policies are in sync with price stability and macroeconomic stability objectives. Insights and ideas are derived from rounds of stakeholder and expert consultations preceding drafting of the half yearly Monetary Policy Statements and its analytical base is being strengthened. Revamp of financial sector...

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