Formation and Mandate of the Board of Directors and the Coordination Council of Bangladesh Bank

Mandate of the Board of Directors:

“The general superintendence and direction of the affairs and business of the Bank shall be entrusted to a Board of Directors which may exercise all the powers and do all acts and things that may be exercised or done by the Bank.”

Composition of the Board of Directors: The Board of Directors consists of 9 members, including:

(a) The Governor;

(b) One Deputy Governor nominated by the Bank;

(c) Four Directors who will not be Government officials to be nominated by the Government from amongst people who, in the opinion of the Government, have had experience and shown capacity in the field of banking, trade, commerce, industry, or agriculture;

(d) Three Government officials to be nominated by the Government.

Mandate of the Coordination Council: The Mandates of the Coordination Council are-

(1) Coordinate macroeconomic framework, including fiscal, monetary, and exchange rate strategies and policies;

(2) Ensure consistency among macroeconomic targets of growth, inflation, and fiscal, monetary, and external accounts;

(3) Meet for the above purposes before finalization of the budget.

(4) Meet at least quarterly to review the consistency of macroeconomic policies.

(5) Consider the limits of the Government borrowing.

Composition of the Coordination Council: The coordination council consists of 6 members, including-

(a) Minister for Finance (Chairman)

(b) Minister for Commerce (Member)

(d) Secretary, Finance Division (Member)

(e) Secretary, Internal Resources Division (Member)

(f) Member (Programming), Planning Commission (Member). 7th BPE, 4(a)