Photo: Collected

DHAKA, June 21, 2026 (BSS) - Engaging locally certified management consultants for major public and private sector projects can significantly conserve foreign exchange while strengthening the country's professional services export potential, said leaders of the Institute of Management Consultants Bangladesh (IMCB).

Speaking at a "Meet the Press" event held today at a hotel in Dhaka ahead of its upcoming Annual Convention, IMCB leaders also emphasized that Bangladeshi consultants are already contributing to global assignments and earning foreign currency, demonstrating their international competitiveness.

IMCB President Nadeem A. Chaudhury, Chairman M Zakir Hossain, and Head of the Advisory Committee Prof. Dr. Abdur Rab addressed the media, highlighting both policy challenges and future reform priorities for the sector.

The leaders criticized what they described as persistent fee disparities in consultancy procurement, arguing that foreign consultants are often paid significantly higher fees than local professionals despite offering similar qualifications and expertise. 

They said this practice leads to unnecessary outflow of foreign exchange.

"We strongly oppose this discrimination in remuneration. Local consultants with equivalent credentials must be given fair opportunities and compensation," IMCB President Nadeem A. Chaudhury said.

The IMCB leadership announced plans to intensify engagement with both public and private sector recruiters to address this imbalance and promote policy reforms aimed at prioritizing domestic expertise and reducing reliance on costly foreign firms.

Highlighting institutional achievements since its establishment in 1997 under a Ministry of Commerce license, IMCB leaders noted that the organization holds permanent membership in the Switzerland-based International Council of Management Consulting Institutes (ICMCI), which spans 52 countries.

They said this affiliation enables IMCB to award the Certified Management Consultant (CMC) designation in Bangladesh, ensuring that local professionals meet internationally benchmarked standards of ethics, competence, and professional conduct.

"This global affiliation empowers IMCB to award the prestigious Certified Management Consultant (CMC) designation in Bangladesh, ensuring our local experts strictly meet identical professional, ethical, and competency benchmarks applied internationally," said IMCB President Chaudhury.

Chairman M Zakir Hossain noted that Bangladesh's management consulting market is becoming increasingly crowded and fragmented, making it difficult for clients to distinguish between certified experts and unqualified practitioners.

"To ensure quality and credibility, IMCB is upgrading its by-laws and strengthening enforcement of its Code of Professional Conduct to ensure ethical governance, transparency and independent objectivity among members," he added.

The institute said its upcoming Annual Convention will serve as a platform to promote the Post Graduate Diploma in Management Consulting (PGDMC) and the CMC designation, while also advancing broader efforts to expand the country's consultancy sector in energy, infrastructure, finance, and regulatory services.