NewKerala.com

Bangladesh's New Cabinet Dominated by Business Leaders, TIB Warns of Risks

Business leaders constitute 70% of the newly formed Bangladesh cabinet under the BNP-led government, with 35 out of 50 ministers and state ministers declaring business as their profession. Transparency International Bangladesh has warned that this dominance risks creating conflicts of interest if ministers use their positions for business gain. The trend extends to parliament, where 59% of newly elected MPs are from business backgrounds. The anti-graft watchdog stresses ministers must avoid decisions that could benefit their own enterprises to prevent market distortion.

Key Points: 70% of Bangladesh's New Cabinet are Businesspersons

  • 70% cabinet are businesspersons
  • Only 2 list politics as profession
  • 59% of new MPs are businesspeople
  • Watchdog warns of conflict risks
3 min read

Business leaders make up 70 per cent of BNP-led cabinet in Bangladesh

Analysis shows 35 of 50 ministers are business leaders, raising conflict-of-interest concerns flagged by Transparency International Bangladesh.

"If ministers fail to remain above conflicts of interest... their positions could turn into instruments for business gain. - Iftekharuzzaman"

Dhaka, Feb 22

As the Tarique Rahman led Bangladesh Nationalist Party assumed power in Bangladesh following its decisive victory in the 13th Parliamentary elections, business leaders account for 70 per cent of the newly formed cabinet, with 35 out of 50 ministers and state ministers listing business as their profession, local media reported citing affidavits submitted to the Election Commission.

An analysis of the affidavits submitted by the Prime Minister, ministers, and state ministers revealed that 19 cabinet ministers and 16 state ministers declared themselves as businesspersons. Additionally, lawyers form the second-largest professional group in the cabinet, alongside members with multiple professions.

Despite being veteran politicians, only two cabinet members --Prime Minister and BNP Chairperson Tarique Rahman and Education Minister ANM Ehsanul Haque Milon-- identified "politics" as their profession, with most citing business or other occupations, Bangladeshi leading daily Dhaka Tribune reported.

Earlier on February 17, 25 ministers, including two appointed under the technocrat quota, were sworn in at the South Plaza of the National Parliament in Dhaka.

Meanwhile, Iftekharuzzaman, Executive Director of Transparency International Bangladesh (TIB)-- anti-graft watchdog-- stressed that the predominance of businesspersons in the cabinet may create challenges.

"If ministers fail to remain above conflicts of interest in cabinet decisions and ministry activities, their positions could turn into instruments for business gain. They must refrain from participating in decisions that could directly or indirectly benefit their own enterprises or sectors," Dhaka Tribune quoted Iftekharuzzaman as saying.

He warned that disregarding such standards could erode competitive market practices and leave citizens bearing the burden of the negative consequences.

Reports suggest that the dominance of businesspersons extends beyond the cabinet. Among the 300 MPs elected in the 13th parliamentary election, 174-or 59 per cent-declared business as their profession, including at least 15 linked to the garment industry either as owners or family members.

The BNP won 209 seats, with 145 of its winning candidates declaring themselves businesspersons, while Jamaat-e-Islami, which secured 68 seats, has 20 MPs from business backgrounds.

Last week, addressing a press conference in Dhaka, TIB researcher Mohammad Touhidul Islam unveiled a study titled 'Thirteenth National Parliament Election Process and Affidavit-Based Observation', outlining a picture of the assets, liabilities and professional status of the newly elected Members of Parliament.

As per the findings of the TIB, 236 newly elected MPs are millionaires, accounting for 79.46 per cent of the total Members of Parliament, with 13 among them being billionaires, Bangladesh's leading Bengali daily Bonik Barta reported.

The data showed that among the BNP lawmakers, 189 are millionaires, representing 90.87 per cent of the party's newly elected Members of Parliament, while Jamaat has 38 millionaires, constituting 55.07 per cent of its parliamentary strength.

- IANS

Share this article:

Reader Comments

S
Sarah B
Interesting to see this trend in our neighbor. In India, we also see many politicians with business backgrounds. Sometimes it brings efficiency, but the conflict of interest warning from Transparency International is very valid. Governance needs a balanced approach.
A
Arjun K
Business leaders running a country can be a double-edged sword. On one hand, they might bring managerial skills and focus on economic growth. On the other, as the article says, the risk of policies favoring their own sectors is huge. Bangladesh needs strong institutions to check this.
P
Priyanka N
The statistic about 79% MPs being millionaires is staggering! It creates a huge gap between the rulers and the common man. In a democracy, this concentration of wealth in politics is worrying, whether it's in Bangladesh or anywhere else. Hope they remember their duty is to the public, not their balance sheets.
K
Karthik V
Maybe this is what they think development looks like. Get the people who create jobs to run the government. But governance is not the same as running a company. The social welfare aspect cannot be ignored. Let's see how this experiment goes for our neighbors. 🤔
M
Michael C
From an investment perspective, a business-friendly cabinet could stabilize policies and attract FDI. However, transparency is key. The garment industry link is significant for Bangladesh's economy. Their success or failure will be closely watched in global markets.
N
Ne

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50