IMCB for greater use of local consultants

Bangladesh could save a significant amount of foreign exchange by making greater use of qualified local management consultants instead of routinely hiring foreign firms at substantially higher costs, leaders of the Institute of Management Consultants Bangladesh (IMCB) said on Sunday.
They also criticised what they described as a long-standing disparity in consultancy fees, arguing that foreign consultants are often paid considerably more than Bangladeshi professionals despite possessing comparable qualifications, expertise and experience.
Speaking at a "Meet the Press" programme in Dhaka ahead of the institute's Annual Convention, IMCB leaders said Bangladesh now has a growing pool of internationally competent consultants, many of whom are already working in overseas markets and contributing to foreign exchange earnings.
"Local consultants are capable of delivering services at global standards. Greater utilisation of domestic expertise would not only save foreign exchange but also strengthen the country's professional services sector," they said.
The event was addressed by IMCB President Nadeem A. Chaudhury, Chairman M Zakir Hossain and Advisory Committee Head Prof Dr Abdur Rab.
The institute announced plans to engage policymakers and corporate leaders to encourage the use of certified local consultants and address what it termed discriminatory remuneration practices.
Mr Chaudhury said IMCB, established in 1997 under a licence from the Ministry of Commerce, is a permanent member of the Switzerland-based International Council of Management Consulting Institutes (ICMCI), which represents 52 countries.
The affiliation enables IMCB to award the internationally recognised Certified Management Consultant (CMC) designation in Bangladesh, ensuring that local consultants meet global standards of professionalism, ethics and competency, he added.
Mr Hossain noted that the country's consulting industry has expanded rapidly in recent years but remains fragmented, making it difficult for clients to identify qualified professionals.
He said IMCB is revising its by-laws and strengthening enforcement of its Code of Professional Conduct to enhance professional standards, transparency and accountability across the sector.
The institute also plans to use its upcoming Annual Convention to promote awareness of the Post Graduate Diploma in Management Consulting (PGDMC) and the CMC certification, while advocating policies to support the development of Bangladesh's consulting industry in sectors such as infrastructure, energy, finance and regulation.

newsmanjasi@gmail.com