Public Financial Management Systems in Bangladesh: An Ideological Review.Bangladesh is hoping to be a developed country by 2041. The timeline set by the country to reach up to that point seems to be highly ambitious, however, the country has already demonstrated to achieve few notable milestones like achieving targets set in Millennium Development Goals (MDGs), graduating the country to Middle Income Country Status, improving life expectancy along with other social indicators etc. These development initiatives of the country require serious fund commitment with sound public financial management system. To accommodate the challenges, public sector has undergone significant changes across the world. New Public Management (NPM) has already transformed the operations of public sector bringing private sector management philosophy in public sector. Financial management practices in public sector have also been targeted with different innovative tools. However, cultural maturity and collectivism are important precursor in establishing a desirable PFM system.