The competition featured six franchises and used a tournament format with a double round robin group stage followed by two semi-finals and a final.

[1][2] The President of Bangladesh Zillur Rahman launched the tournament during an opening ceremony held at the Sher-e-Bangla Cricket Stadium in Dhaka on 9 February 2012.

[6] Before the tournament started, Mashrafe Mortaza, one of Bangladesh's leading fast bowlers and the captain of Dhaka Gladiators, reported a spot-fixing approach by a fellow cricketer.

If more than one team ended the group stage of the competition on the same number of points the regulations said that the teams would be ranked using the criteria: During the group stage of the tournament Duronto Rajshahi won seven of their ten matches and finished top of the league table with Khulna Royal Bengals, who won six matches, finishing second.

The organisers of the tournament caused some controversy after the broadcasters awarded the final semifinal spot on air to the Barisal Burners based on their superior net run rate over the Chittagong Kings, both of which were tied on the same number of points with only one of the two to progress to the next round.

The following day (27 February 2011) officials from the Bangladesh Premier League confirmed that Chittagong Kings would progress to the next round, in place of the Burners, due to a better head-to-head record.

Later that day the officials retracted their initial decision and replaced the Kings with the Burners as the 4th placed team based on their superior net run rate.