Chairman of the National Board of Revenue (NBR) Md Abdur Rahman Khan. File Photo

DHAKA, March 8, 2026 (BSS) – National Board of Revenue (NBR) Chairman Md Abdur Rahman Khan today emphasized that sustainable industrialization and employment generation are impossible without a robust capital market.

“Globally, industrial revolutions were fuelled by the public company concept where millions of small investors provided capital,” he said.

The NBR chief made the remarks while speaking as the special guest at a seminar titled "Challenges and Way Forward for the New Government in the Stock Market" at a hotel in the city.

Capital Market Journalists' Forum (CMJF) organized the event.

Speaking at an event, Abdur Rahman Khan said that the current trend of entrepreneurs relying on short-term bank loans for long-term industrial projects, which creates a mismatch and puts banks in difficulty.

"Bank loans must be repaid with interest within months, whereas the capital market provides equity that remains on the balance sheet and never needs to be returned," he explained.

He urged entrepreneurs to move away from high-interest bank debt and instead utilize the equity market, where profit-sharing is based on performance.

He highlighted that many companies listed with attractive prospectuses are now closed or failing, leaving investors vulnerable.

"The responsibility lies with those who certify prospectuses and accounts to ensure only companies with the capacity to provide long-term returns are listed," he stated, calling for 100% honesty and accountability from all market players.

Highlighting the current government's vision, he said the administration is moving towards Economic Democracy to ensure that state benefits reach the common people, including farmers and the poor, through initiatives like family cards and farmer cards

To curb irregularities in the capital market, he proposed bringing the entire economy under a digital and linked framework to close the door on opportunities for corruption and misdeclaration.

Regarding recent policy changes, he mentioned that the government has already rationalized the Capital Gains Tax to 15% for gains exceeding Taka 50 lakh to make it more tolerable for investors.

However, he cautioned that past incentives have not always yielded the desired results for the market, and future decisions would be based on the maximum benefit to the general public and the state.

He also expressed disappointment over the performance of mutual funds, noting that while they are meant to be managed by financial wizards, their current governance and market value are in a poor state.

Concluding his speech, he assured that the NBR is ready to provide necessary support to the market while ensuring revenue maximization for the national interest.

He warned that those who deceive ordinary investors must be held accountable through strict enforcement of existing rules and regulations.

"If we can maintain the reforms and discipline recently initiated, the capital market will surely grow," he added.