A survey report published by global accounting giant Ernst & Young says Bangladeshi corporate and business professionals consider bribery an essential part of doing business here, though it is unethical.
Of the professionals surveyed, 58% consider paying bribes as unethical but necessary to conduct business in the country, the report, titled 'Bangladesh’s risk landscape: analyzing the undercurrents,' said.
The report highlighted Bangladesh's economic growth and promise of the emerging market. It identified the key growth sectors of the economy.
However, it said that the country ranks low in work ethics, with half of its survey respondents saying they had lost business to a competitor that may have acted unethically to win a contract.
A quarter of the professionals believe it is not a company’s responsibility to monitor activities managed by its vendors or third parties.
In the survey, 48% said their company has not conducted anti-bribery and corruption training for employees.
The report said companies need to communicate to their employees the importance of upholding ethical standards – and developing programs that promote ethical behaviour.
Such actions will be instrumental in driving transparency and sound governance, it said.
Remarking on the respondents, Ernst & Young said employees appear to be willing to do the right thing, and companies need to extend their support and lead by example in order to set the right tone at the top.