Extensive Reforms Required to Make FBCCI Effective and Transparent

 
The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) is the country's apex trade body. It's now on cards to reduce the board of directors in FBCCI from 80 to 46 members. Out of these 46 individuals 12 people will be nominated while the rest of the officials have to be elected. The posts of Vice Presidents will be pulled down to 3 from 6. Presidents, Senior Vice Presidents and Vice Presidents have to be picked through elections, such procedure and rectifications are going on.

Economists and financial experts have said that FBCCI needs reforms on a broad scale to release the organization from nepotism, irregularities and political influence and to establish transparency. The above changes in FBCCI are right now being examined by the Law Ministry. It will be soon dispatched to the Commerce Ministry and a gazette notification is supposed to be issued soon, business sources have informed.

Several former FBCCI directors may find it difficult to contest in polls if the above changes are granted. A lot of business leaders who were in FBCCI top posts during last two terms are very unlikely to vie for higher echelons in FBCCI during upcoming elections. Most of the veteran business leaders have expressed the opinion that FBCCI has always been suffering from lack of strong and dexterous leadership. In the past it was observed that ruling authorities explicitly enforced political intervention in the activities and elections in FBCCI.

Following the regime change that took place on 5 August 2024 a section of FBCCI leaders called upon the interim government to ask FBCCI board of directors to step down. The FBCCI board of directors was dissolved on 11 September 2024 and Member of Bangladesh Competition Commission Md. Hafizur Rahman was appointed in the Administrator post in FBCCI. Md. Hafizur Rahman had meetings with business leaders and sent a list of 12 reform proposals to the Commerce Ministry to reorganize FBCCI.

Former FBCCI Vice President Mir Nizam Uddin Ahmed said "We have been working for essential reforms in FBCCI for a long time but a vested quarter is cleverly trying to keep experienced business leaders out of elections. We have informed this matter to authorities concerned".

Abul Kashem Haider, a member of FBCCI coordinating committee, told journalists that a lot of anomalies and inconsistencies are prevailing inside FBCCI. The Commerce Ministry has been requested to carry out quick reforms and to organize polls to elect new leaders for FBCCI, Abdul Kashem Haider further said.