Bangladesh, Sept. 22 -- The central bank has prepared the draft of a first-ever law designed to prevent production, supply and use of counterfeit currency.

The draft proposes the maximum life-time imprisonment for the offences.

The offences under the law will be 'cognizable, non-bailable and non-compoundable'. Cognizable offence means a police officer has the authority to arrest an offender without any warrant as well as to start investigation with or without the permission of court.

According to the draft law, the Bangladesh Bank (BB) and relevant law-enforcing agencies will be able to take actions against the counterfeit currency makers and suppliers.

The BB has completed drafting of the law, titled Counterfeit Currency Control and Pr...