Flood hazard maps were developed using remote sensing (RS) data for the historical event of the 1988 flood with data of elevation height, and geological and physiographic divisions. Flood damage depends on the hydraulic factors which include characteristics of the flood such as the depth of flooding, rate of the rise in water level, propagation of a flood wave, duration and frequency of flooding, sediment load, and timing. In this study flood depth and “flood-affected frequency” within one flood event were considered for the evaluation of flood hazard assessment, where the depth and frequency of the flooding were assumed to be the major determinant in estimating the total damage function. Different combinations of thematic maps among physiography, geology, land cover and elevation were evaluated for flood hazard maps and a best combination for the event of the 1988 flood was proposed. Finally, the flood hazard map for Bangladesh and a flood risk map for the administrative districts of Bangladesh were proposed.