Biography of Salman Fazlur Rahman: Businessman, Politician, Investment Advisor
Biography of Salman F. Rahman:
Salman Fazlur Rahman, a prominent figure in Bangladesh, has
made significant contributions both in business and politics. Born on May 23,
1951, into a respected Bengali Muslim family in Dohar, Dhaka District, Rahman's
early life was shaped by his father, Fazlur Rahman, who served as a state
minister in Pakistan. His educational journey started at Notre Dame College in
Dhaka, followed by studies in physics at the University of Dhaka and later
Karachi University, where he completed his graduation.
Salman Fazlur Rahman's career path led him into the realm of
business. He became a key figure in BEXIMCO Group, one of Bangladesh's largest
conglomerates, where he currently holds the position of vice chairman. His
expertise and leadership have been instrumental in the company's growth and
success in various sectors.
Salman Fazlur Rahman's achievements extend beyond his
professional roles. In 2017, he gained global recognition when he was listed as
the 1685th billionaire in the world by Hurun Global. His leadership extends to
various trade bodies, including his presidency at the Association of Television
Channel Owners (ATCO), highlighting his diverse contributions to Bangladesh's
economic and media landscape.
Family and Personal Life
Outside his professional and political engagements, Salman
Fazlur Rahman maintains a fulfilling personal life. He is married to Syeda
Rubaba Rahman and has a son named Ahmed Shayan Fazlur Rahman, emphasizing his
commitment to both family and nation-building.
Entrepreneurial Beginnings
Salman Fazlur Rahman's entrepreneurial journey began in 1966
alongside his brother, Sohail Fasihur Rahman, with a family-owned jute factory.
However, the government's nationalization of the factory in 1972 prompted them
to establish the Bangladesh Export and Import Company Limited (BEXIMCO Group).
Initially focused on exporting seafood and crushed bones to Europe, they
imported medicines in exchange, marking the inception of their diversified
business portfolio.
Growth and Diversification
Since its inception, BEXIMCO Group has evolved into one of
Bangladesh's foremost conglomerates. It encompasses subsidiaries such as
BexTex, Beximco Pharmaceuticals Ltd. (Beximco Pharma), and Shinepukur Ceramics.
Employing over 70,000 people globally, BEXIMCO stands as Bangladesh's largest
private sector employer, reflecting its substantial contribution to the
country's economy.
Innovation and Industry Leadership
BEXIMCO has been a trailblazer in Bangladesh’s corporate
realm, renowned for its pioneering global corporate practices and cutting-edge
technologies. Its subsidiary, Beximco Textiles, stands as South Asia’s largest
vertically integrated textile and garment company, achieving annual revenues of
$500 million and serving prestigious clients worldwide.
Expansion into Pharmaceuticals
In 1976, the Rahman brothers established Beximco
Pharmaceuticals Ltd., which later became the first Bangladeshi company listed
on London's Alternative Investment Market (AIM). Known for its stringent
quality standards, the company has earned accreditations from multiple foreign
regulatory authorities, including the US FDA, and holds the distinction of
being the first Bangladeshi pharmaceutical firm to export medicines to Canada.
Innovations in Telecommunications and Energy
BEXIMCO expanded its portfolio with Akash Digital TV,
Bangladesh’s first direct-to-home satellite service, utilizing the country’s
own Bangabandhu Satellite-1. Additionally, it operates Bangladesh’s largest
solar power plant, demonstrating its commitment to sustainable energy solutions
and technological advancement.
Financial Initiatives and Strategic Ventures
In a testament to its financial prowess and strategic
foresight, BEXIMCO launched a BDT 3,000 crore Sukuk bond in March 2021,
underscoring its role in shaping the country’s financial markets and investment
landscape.
Banking Ventures
In 1982, Salman Fazlur Rahman and his brother ventured into
banking by partnering with the Dubai-based Galadari Brothers Group to establish
Bangladesh's first private bank, AB Bank. Although Rahman sold his stake in
1985, the brothers later acquired a 30% stake in IFIC Bank, with Fazlur Rahman
assuming the role of chairman in 2010 and subsequently being re-elected in
2016, illustrating his enduring influence in the financial sector.
Biography of Salman Fazlur Rahman: Businessman, Politician, Investment Advisor Bangladesh Prime Minister/ BEXIMCO, Yellow/ Jatiya Sangsad / Journey
Strategic Ventures and Achievements
In 2021, BEXIMCO made headlines with the launch of a BDT
3,000 crore Sukuk bond, underscoring its commitment to innovation and financial
market leadership. Beyond business, Rahman has made significant strides in
media ownership, owning Independent Television and formerly owning the English
daily, The Independent, which ceased publication in early 2022. His role as
Chairman of the Board of Editors at The Daily Independent underscores his
commitment to journalistic integrity and media influence.
Entry into Politics
Salman Fazlur Rahman's foray into politics began in the
mid-1990s when he founded the political party Samriddhya Bangladesh Andolan
before aligning with the Bangladesh Awami League. He contested and won the
Bangladeshi general election in 2001 as the Awami League's candidate from
Dhaka-1 constituency, representing Dohar Upazila.
Political Career and Influence
Currently serving as the Private Sector Development Adviser
to both the President of the Bangladesh Awami League and Prime Minister Sheikh
Hasina, Salman Fazlur Rahman continues to play a pivotal role in Bangladesh's
political landscape. His significant electoral victories, including securing
86.5% of the votes in the 2018 parliamentary election from the Dhaka-1 constituency,
underscore his strong support base and influence.
Strategic Initiatives and Economic Development
Appointed as the Private Industry and Investment Adviser to
Prime Minister Sheikh Hasina in 2019, Salman Fazlur Rahman has been
instrumental in enhancing Bangladesh's business environment. Tasked with
improving the country's standing on The World Bank's Ease of Doing Business
index, Rahman's initiatives contributed to Bangladesh climbing several spots in
the rankings by 2020. He also spearheaded efforts in implementing projects
under the Public-Private Partnership (PPP) model, aiming to expedite
development through strategic collaborations.
Foreign Direct Investment and Global Engagement
Rahman's role extends beyond domestic affairs to fostering
international relations and attracting foreign direct investment (FDI). From
2020 to 2022, he facilitated investment roadshows in key global markets like
the UAE, UK, and USA, promoting Bangladesh as an attractive investment
destination. He actively engaged with non-resident Bangladeshis, encouraging
investments in crucial sectors such as agriculture, healthcare, and education,
highlighting the private sector's vital role in Bangladesh's economic
landscape.
Diplomatic Engagements and Trade Opportunities
In his diplomatic endeavors, Salman Fazlur Rahman has played
a proactive role in enhancing Bangladesh's economic ties globally. He met with
officials from various countries, including the UK and Japan, to explore
opportunities in sectors like garment recycling and intellectual infrastructure
development. His participation in seminars and economic cooperation forums
underscores Bangladesh's emergence as a regional economic powerhouse and its
commitment to fostering international trade and business collaborations.
Leadership and Affiliations
Salman Fazlur Rahman holds pivotal roles in various
organizations, showcasing his leadership and influence across Bangladesh's
business and civic sectors. He serves as the vice-chairman of BEXIMCO Group, a
cornerstone of Bangladesh's corporate landscape. From 1994 to 1996, Rahman led
the Federation of Bangladesh Chambers of Commerce & Industries (FBCCI),
demonstrating his commitment to fostering economic growth and representing
business interests nationally.
His tenure as a director at the Bangladesh Securities and
Exchange Commission and the Dhaka Stock Exchange reflects his deep involvement
in shaping the country's financial regulatory framework and capital markets. Rahman's
diverse affiliations include past presidencies of the Association of Television
Channel Owners (ATCO) and the LPG Operators Association of Bangladesh (LOAB),
highlighting his influence in media and energy sectors respectively. Currently,
he holds significant positions as Chairman of the Board of Governors of the
Bangladesh Enterprise Institute and oversees operations at Abahani Limited
Dhaka, a prominent sporting club.
Personal and Family Life
Salman Fazlur Rahman hails from Dohar Upazila in Dhaka
district, rooted in a distinguished family lineage. His parents, Fazlur Rahman
and Syeda Fatina Rahman, have instilled values that underpin his professional journey
and civic contributions. His son, Shayan Fazlur Rahman, continues to contribute
to the family business, ensuring continuity and growth across their
enterprises.
Controversies and Legal Challenges
Salman Fazlur Rahman has faced scrutiny and legal challenges
throughout his career. A leaked diplomatic cable in 2007 alleged his
involvement as one of Bangladesh's largest bank loan defaulters, casting a
shadow over his financial reputation. During the political turmoil of 2006-08,
Rahman was arrested on multiple charges of crime and corruption. However, he
secured bail from the High Court in 2008 in a case related to bank forgery.
His involvement in the 2010-11 share market scam was also
investigated, although subsequent legal proceedings resulted in Rahman and his
brother being acquitted in 2015 due to lack of evidence supporting allegations
of stock market manipulation. Salman Fazlur Rahman's journey is marked by both
achievements and challenges, underscoring his resilience and enduring impact on
Bangladesh's economic and social fabric despite the controversies he has
navigated.
Salman Fazlur Rahman's story can be outlined with the
following timeline:
1951: Born on May 23 in Dohar, Dhaka District, Bangladesh.
1960s: Started his educational journey at Notre Dame College
in Dhaka.
1970s: Studied physics at the University of Dhaka and later
at Karachi University.
Early 1970s: Joined the family-owned jute factory.
1972: Established Bangladesh Export and Import Company
Limited (BEXIMCO Group) with his brother after their family's jute factory was
nationalized.
1976: Founded Beximco Pharmaceuticals Ltd., which later
became the first Bangladeshi company listed on London's Alternative Investment
Market (AIM).
1980s: Venture into banking with the establishment of AB
Bank in partnership with the Galadari Brothers Group.
1990s: Founded the political party Samriddhya Bangladesh
Andolan and later aligned with the Bangladesh Awami League.
2001: Won the Bangladeshi general election as the Awami
League's candidate from Dhaka-1 constituency.
2017: Listed as the 1685th billionaire in the world by Hurun
Global.
2019: Appointed as Private Industry and Investment Adviser to
Prime Minister Sheikh Hasina.
2021: BEXIMCO launched a BDT 3,000 crore Sukuk bond.
2023: Continues to play a key role in Bangladesh's political
and economic landscape.
