The court in Dhaka issued the arrest warrant after Khaleda Zia failed to appear in connection with a corruption case.
The Bangladesh Nationalist Party (BNP) leader denies embezzling hundreds of thousands of dollars in charitable funds.
Khaleda Zia’s party is engaged in a major confrontation with PM Sheikh Hasina’s government.
Last month Khaleda Zia urged her supporters to go on strike and block roads and railways to force Sheikh Hasina to call fresh elections.
Since then at least 100 people have died in clashes around Bangladesh.
The BNP boycotted polls in January 2014, saying they would be rigged.
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