Govt to decentralise capital market, NBR and banking sector: Finance Minister

Finance Minister Amir Khasru Mahmud Chowdhury has said the government plans to decentralise the country’s financial sector, including the capital market, the National Board of Revenue (NBR) and the banking system, as part of broader economic reforms.

He made the remarks while addressing a summit organised by the Financial Reporting Council at Karwan Bazar in Dhaka on Wednesday (May 20).

The minister said Bangladesh’s economy has gone through prolonged instability in recent years, leaving many institutions ineffective and weakening financial governance.

Emphasising accountability in the banking sector, he said no individual can claim ownership of a bank, noting that banks belong to shareholders while deposited funds belong to customers.

Speaking at the same event, Prime Minister’s Economic Adviser Rashed Al Mahmud Titumir criticised past financial reporting practices, saying weak oversight and inaccurate reporting had misled ordinary investors.

He said banks became vulnerable to rising default loans after approving large loans without properly assessing asset values, contributing to repeated financial scandals in the sector.

The remarks come amid ongoing discussions over reforms in Bangladesh’s banking, taxation and capital market systems aimed at improving transparency and restoring investor confidence.