Very rapid developments are widely believed to have occurred within Bangladesh's aquaculture sector in recent years, but have yet to be adequately documented. This paper addresses the information gap based on a comprehensive review of literature and data. The current status of pond based aquaculture in Bangladesh is summarized in terms of the quantities and species of fish produced and the technical and social characteristics of the production systems from which they originate. The main systems of pond aquaculture practiced in Bangladesh are analyzed, paying particular attention to the technical, social and economic characteristics of two dominant forms of production. These are categorized here as homestead pond culture (carp dominated low intensity production conducted on a semi-subsistence basis, requiring limited management, labor and capital investment) and entrepreneurial pond culture (semi-intensive or intensive culture entered into as a productive investment with moderate or high capital costs and frequently employing labor). An estimate of national fish production and consumption disaggregated by culture system is presented. The discussion section synthesizes these results and considers their present and future implications.