In an unexpected shake-up that caught even the Indian High Commission in Dhaka off guard, a group described by officials as “anti-liberation forces” has taken full control of the India-Bangladesh Chamber of Commerce and Industry (IBCCI). The takeover occurred on December 8, effectively ousting the chamber’s entire 24-member governing body.
The IBCCI – a 21-year-old body representing key business interests from both India and Bangladesh – traditionally maintains a 12-12 balance of members from each side. That structure has now been upended following elections held on November 27, where candidates for the 2025–27 term reportedly ran unopposed.
Among the removed members were representatives of major Indian companies and banks, including Axis Bank, State Bank of India, Adani Group, Himalaya Wellness Company, Emami Group, Larsen & Toubro, Dr. Lal PathLabs, and Marico.
Elections to the chamber are held every two years.
On December 8, Masihur Rahman, promoter of Rahman Shipping Lines, assumed charge as the new IBCCI President, replacing Abdul Matlub Ahmed of Nitol Motors – a former president of the Federation of Bangladesh Chambers of Commerce and Industries (FBCCI). Meherun Nessa Islam, President and Managing Director of CEMS Ltd, has taken over as Vice-President. Amit Kumar Tiwari of Torrecid Bangladesh Ltd, first elected in 2023, continues as a director.
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Islam also currently serves as an executive member of the Bangladesh-China Chamber of Commerce and Industry for the 2023–25 term.
However, Indian officials have raised alarm over the inclusion of two newly elected directors – Maulana Yakub Sharfati of the Hajj Association of Bangladesh, and Humayun Rashid Khan Pathan, who is reported to have links with a banned organisation.
The dramatic overhaul stems from amendments introduced by the interim government led by Nobel laureate Mohammad Yunus. The changes barred Bangladeshi businessmen from contesting IBCCI elections if they had already served two consecutive terms – a shift that cleared the way for the current takeover.
The development has sparked concern within diplomatic and business circles, given the chamber’s longstanding role in promoting bilateral trade and industry cooperation between India and Bangladesh.
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