This study has opted for an in-depth inquiry into the voluntary intellectual capital (IC) disclosure practices in Bangladesh. Content analysis of the annual reports of 20 listed technology, entertainment, communication and other knowledge (TecK) companies is carried out on the basis of an applicable list of IC-related terms. Extent of voluntary IC disclosures is found almost negligible. Technology based companies (IT and Telecommunication) have a very poor disclosure. However, disclosure of other knowledge based firms is significantly better than other firms in the study. This study also explains how traditional culture and values of a developing country are in conflict with the rational ideas of transparency and adequate disclosure. It suggests the policy makers to make some statutory provisions for IC disclosure in the interest of the stakeholders as well as take initiatives to increase incentive for changing poor traditional disclosure culture.