BNP Standing Committee Member Amir Khasru Mahmud Chowdhury spoke as the chief guest at a conference at a hotel in the city. Photo: BSS

DHAKA, Jan 20, 2026 (BSS) - BNP Standing Committee Member Amir Khasru Mahmud Chowdhury today emphasized the critical necessity of a free, fair, and acceptable election to establish an accountable government, terming it a prerequisite for restoring order to the country’s capital market and ensuring sustainable economic development.
 
Speaking at a discussion ahead of the general election on February 12, Khasru highlighted that stakeholders are waiting to see the capital market return to proper and appropriate order, noting that its role has been absent for over a decade.
 
“The upcoming election is a million dollar question. I am expressing hope that the electoral process moves smoothly so that citizens, who have been unable to vote for the last 16 to 18 years, can finally elect their representatives,” he said.
 
Amir Khasru said this while speaking as the chief guest at a conference titled "Post Election 2026 Horizon: Economy, Politics & Capital Market" at a hotel in the city.
 
BRAC EPL Stock Brokerage Limited organized the conference to discuss the country's overall economic trajectory, political realities, and future prospects and structural transformation of the capital market in the context of the upcoming national elections.
 
In his speech,  Amir Khasru, “If we get the confidence in the government whom we have voted who is accountable to you, I'm sure the investors at home and investors from abroad they will have the same confidence," he said, adding that without domestic confidence in the government, one cannot expect foreign investors to have faith in the country's policies.
 
The BNP leader expressed surprise that the economy has survived this long without a functional capital market.
 
 He pointed out a severe structural flaw in the financial sector where, due to the capital market's dysfunction, borrowers relied heavily on high street banks.
 
"High street banks with short-term deposit and long-term lending is a total mismatch of fund," Khasru said, noting that this practice has left the financial sector in a dire state, with some funds being laundered out of the country.
 
He drew a sharp comparison between Bangladesh and other economies, noting that while the market capitalization in the US is double the size of its GDP, and roughly 60 percent in India and 40 percent in Pakistan, Bangladesh’s market cap-to-GDP ratio remains in the single digits, at less than 10 percent.
 
Amir Khasru suggested that a functional capital market would reduce the government's reliance on international lenders like the IMF for funds.
 
 He proposed that the government, along with local bodies such as city corporations and the railway authorities, should utilize the capital market to finance projects by floating municipal bonds, a common practice in many countries.
 
"Imagine JP Morgan floating a bond for Bangladesh," he said, revealing that discussions have taken place with international banking systems who are willing to engage, provided the right environment is created.
 
He added that many fund managers, including those of Bangladeshi origin, are looking at Bangladesh very serious but are waiting for the environment to improve.
 
Addressing the country's economic policies, Amir Khasru called for serious reform programs, specifically deregulation and liberalization.
 
He argued that Bangladesh is currently economically overregulated and ranks at the bottom regarding the ease of doing business.
 
"If the cost of doing business is so high as it is today, LDC graduation is going to be really difficult proposition for Bangladesh," he warned.
 
He concluded by noting that while international investors are visiting the country regularly, they have put decisions on hold pending the election results.
 
“Everybody is saying what is the election... and we'll wait till the election," he stated, stressing that utilizing the country's competitive advantage relies on the restoration of political and economic stability.
 
Jamaat Leader Advocate Atiqur Rahman also spoke on the occasion.
 
Economist and Chairman of the Research and Policy Integration for Development (RAPID) Dr. M. A. Razzak, BSEC Commissioner Md Saifuddin and ABB Chairman and Managing Director and CEO of City Bank Mashrur Arefin were present as panel members.