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Business tycoon Latifur Rahman no more

FE Report | July 02, 2020 00:00:00


Latifur Rahman

Leading business figure Latifur Rahman (Shamim) passed away at 11 am on Wednesday at his paternal home in Cumilla.

He was 75. He had been suffering from lung-related illness for a long time.

His Namaz-e-Janaza was held at Azad Masjid in Dhaka after Esha prayers. He was set to be buried at the Banani graveyard.

He was founder chairman and CEO of Transcom Group, a well-known and highly-respected business house of Bangladesh.

He was founding director of Mediaworld, the owning company of The Daily Star, and Chairman of Mediastar, the owning company of Prothom Alo, both leading English and Bangla newspapers of the country. He was a driving spirit behind establishment of The Daily Star.

Transcom Group deals with beverages, electrical and electronics products, pharmaceuticals, fast food, snacks and breakfast cereals, print media, FM radio and tea plantations.

Transcom Group's companies include Transcom Beverages, Transcom Electronics, Eskayef Pharmaceuticals, Transcom Foods, Transcom Distribution Company, Transcom Consumer Product and Mediastar.

Rahman was a member of the executive board of ICC-Paris, vice president of ICC-Bangladesh and member of Brac's governing body. He was member of the Bangladesh Better Business Forum and Advisory Committee on World Trade Organization.

Rahman had also been president of the Metropolitan Chamber of Commerce and Industry, Dhaka for seven terms and president of Bangladesh Employers' Federation for two terms.

He was also member of the executive committee of the Federation of Bangladesh Chambers of Commerce and Industry, Bangladesh Jute Mills Association and Bangladesh Tea Association.

He was also chairman of the Bangladesh government's Trade Body Reforms Committee and a member of Bangladesh Bank's executive board.

Rahman was an honoree of "Oslo Business for Peace Award 2012" and was adjudged Business Executive of the Year 2001 by the American Chamber of Commerce in Bangladesh.

He had also been honoured with the "SAARC Outstanding Leader" award and Lifetime Achievement Award which was presented by the UK Bangladesh Catalysts of Commerce and Industry.

He was married to Shahnaz Rahman. Together they have three daughters-Simeen Hossain, Shazreh Huq, late Shazneen Rahman-and son Arshad Waliur Rahman.

His sad demise sent a shock wave across the business arena as condolences started pouring in from different quarters.

A number of cabinet members expressed profound shock and sorrow at the death of the Transcom Group founder chairman.

In separate condolence messages, Finance Minister AHM Mustafa Kamal, Home Minister Asaduzzaman Khan Kamal, Planning Minister MA Mannan, Information Minister Dr Hasan Mahmud, Environment, Forest and Climate Change Minister Md Shahab Uddin, Expatriates' Welfare and Overseas Employment Minister Imran Ahmad, State Minister for Information Md Murad Hassan and State Minister for Disaster Management and Relief Md Enamur Rahman prayed for eternal peace of the departed soul and conveyed deep sympathy to the bereaved family.

The Federation of Bangladesh Chambers of Commerce and Industries (FBCCI) expressed deep shock at the death of eminent business personality Latifur Rahman.

The president of the apex trade body Sheikh Fazle Fahim in a statement issued on the day said his death has caused an irreparable loss to the nation and the country.

"We are saddened over the death of Latifur Rahman. It is an irreparable loss to our country and the nation," he said.

The Dhaka Chamber of Commerce and Industry (DCCI) also expressed deep shock at the death of prominent businessman Latifur Rahman.

The president of the trade body Shams Mahmud in a statement issued on Wednesday termed his death an irreparable loss to the country and the nation.

Business Initiative Leading Development (BUILD) is deeply saddened by the passing away of Mr. Latifur Rahman, Chairman, Transcom Group, Vice President of ICC Bangladesh and Former President of MCCI

Trustee Board Members, Management and Staff of BUILD joined in expressing deepest condolences. His sincere contribution to the nation will always be remembered with great admiration and gratitude, said a statement of the BUILD.

The American Chamber also expressed deep shock at the demise of Mr. Latifur Rahman. International Business Forum of Bangladesh (IBFB) also condoled the death.

Born in the then undivided Indian sub-continent's Jalpaiguri district of what is now West Bengal, Rahman made his debut as a business executive in 1966 at a jute mill owned by his family in Chandpur and emerged as a pioneering entrepreneur in post independent Bangladesh establishing his Transcom Group in 1973.

In the 1990s, he bought Smith, Kline & French, a US-based pharmaceutical, later known as Eskayef.

He was an iconic figure in the business world of Bangladesh and respected by business leaders at the international level. He was renowned for his honesty and ethical business practices. He was loved and honoured by all those who came in contact with him.

talhabinhabib@yahoo.com


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