Grameen Motsho O Pashusampad (Fisheries and Livestock) Foundation (GMPF)-is a sister organization of Grameen Bank (GB) involves in livestock and fish culture, mobilizing poor people engage in livestock and fish production, agriculture, horticulture, homestead gardening, social forestation and bio-gas plants and other community green income generating economic activities to bring improvement in the quality of life of the poor, in particular of poor women. GMPF is managing leased of 1035 Khas (public) ponds having 2557.3 acres of water bodies and 20 fish seed farms leased from the Government of Bangladesh (GoB) for 25 years. The objectives of this study is to examine the policies, strategies and approaches of GMPF community economic development (CED) and to link CED concept with GMPF activities if it benefits to local poor people in Bangladesh. The study research questions are is Grameen Motsho O PashuSampoad Foundation (GMPF) a CED program in Bangladesh? If so, how it works, what approaches and strategies it follows, what are challenges it faces in implementing its programs in Bangladesh. The author writes this paper from his pre-and post-GMPF working experience. The paper contains author’s live experience, review literature, secondary data and interpretative method of analysis.