We investigate how financial repression affects financial development of Bangladesh over the period 1980-2022. Employing VECM, we find that repression policies negatively affect financial development, meaning that controlling the financial sector counteracts financial progress. Following the results, we recommend some policies. To accelerate financial progress, policymakers need to rethink on these restrictive policy instruments. For emerging nations like Bangladesh, this paper offers the first empirical data on the connection between financial repression and financial development.