Lot of MBA's may sue me (though i am myself an MBA), MBA is not a professional degree. Its merely an academic degree conferred to people who are jack of all trades (and only few becomes master after several years).
Professional degree is something which confer you the right to authenticate or adjudicate on a particular subject. Like MBBS, LLB, CA, BE, CS or such certification from bodies like AMFI, Survey, Actuary, architecture, boiler competency etc.
I dont think by being an MBA you can certify your company's plant design, represent before the labour courts or sign the annual accounts. Many company do very fine without a MBA. Dhirubhai wasnt a MBA. Look what happenned to Reliance once his do nalayak beta acquired MBA from Wharton and Princeton.
Some company's do however consider MBA as professional degree and give you special increment / hike / bonus etc if you qualify. I myself benefitted from that scheme long back and take immense pride in posing as a professional.