Latifur Rahman: a role model for new generation of businessmen

New generation businessmen in Bangladesh should follow the ethics and principles practised by the iconic and legendary entrepreneur Latifur Rahman to succeed and serve the country honestly, said industrialists and entrepreneurs yesterday.

"Please read the biography of Latifur Rahman if you want to be a good businessman," said Syed Manzur Elahi, an industrialist and chairman of Apex Group.

He spoke at a virtual discussion organised by the International Chamber of Commerce – Bangladesh (ICC-B).

Colleagues of Rahman, leaders of trade bodies and chambers, entrepreneurs, and family members recalled the ethical practices, values and leadership qualities of the late entrepreneur.

Rahman, a towering figure in the business and corporate world of Bangladesh and chairman of Transcom Group, passed away at his village home in Cumilla on July 1 at the age of 75.

He had to start from scratch after the independence of the country to build the current business empire in a glowing example of how a man can be successful by strictly following principles and ethics.

Rahman's family businesses were nationalised after the independence but he did not stop. Rather, he continued to build businesses after businesses.

Today, Transcom has 16 operational entities from medicine, foods, lighting, electronics to media. It is the local business partner of international brands Pizza Hut, KFC, PepsiCo and Philips. It employs more than 17,000 people.

"It is hard to speak about the legacies of Latifur Rahman in a short time," said Mahbubur Rahman, president of the ICC-B.

"We lost a man who taught us not to lose ourselves in any difficulties. It is a great lesson that we learnt from him," said Rubana Huq, president of the Bangladesh Garment Manufacturers and Exporters Association.

"He taught us how to turn tragedies into strength," said Huq.

He never thought of leaving Bangladesh even after the death of his grandson. Rather, he stood with determination and fought against all kinds of difficulties, she said.

His grandson Faraaz Ayaaz Hossain was cruelly killed by a band of Islamist terrorists on July 1, 2016.

Rahman was the longest-serving president of the Metropolitan Chamber of Commerce and Industry.

"Everybody knows about his ethical business behaviour. He made us proud on the international stage," said Anis a Khan, vice-president of the country's oldest chamber.

Rokia Afzal Rahman, vice-president of the ICC-B, said it is hard to believe that he was no more.

"Latifur Rahman was an integral part of the business chamber. He had a unique quality. Latifur Rahman had a lot of fellow-feelings."

The former caretaker government adviser recalled Latifur Rahman's outstanding contribution to the ICC.

"Even our generation has a lot of things to learn from Latifur Rahman because of his integrity and honesty."

Matiur Rahman, the editor of the Prothom Alo, the country's largest-circulated Bangla daily, said from his student life, he had a dream to take part in building a nation and a free media.

"A good proximity of mind and philosophy was found between Matiur Rahman and Latifur Rahman. So, I responded to the call of Latifur Rahman and became the editor of the Prothom Alo."

Transcom Group is the owner of the newspaper.

"I found him as a source of inspiration. It is our duty to materialise his dreams," Matiur Rahman said.

Mahfuz Anam, the editor of The Daily Star, the country's leading English daily, said: "I can't believe that we have to commemorate at this time. I am one of the few people who had the opportunity to work with him."

Transcom Group is also a majority shareholder of The Daily Star.

"We [Mahfuz Anam and Matiur Rahman] can proudly say that we are one of the freest editors and our spirit of freedom comes from Latifur Rahman. I remember him every moment," Anam said.

Zaraif Ayaat Hossain, a grandson of Rahman, said the integrity, honesty and values of Latifur Rahman are memorable.

"The amazing legacy of Latifur Rahman will continue. We will always uphold his vision and values."

 "We are all here today with heavy hearts. He was an example of a true entrepreneur. Let's learn from him how to live larger than lives," said Syed Ershad Ahmed, president of the American Chamber of Commerce in Bangladesh.

Mahbub Jamil, chairman of ICE Technologies, did not find any arrogance in Rahman. "He had always had a smiling face.  A person like him is rare. We could have learnt a lot had he lived longer."

"Latifur Rahman was not just an individual; he was a brand," said Mohammad Ali Khokon, president of the Bangladesh Textile Mills Association.

"He was committed to the country. He was down to the earth. I have not heard of any criticism about him," he said.

Abdul Muktadir, senior vice-president of the Bangladesh Association of Pharmaceutical Industries, said Rahman established high-quality factories and business in the pharmaceuticals sector.

"The legacy that he has left behind is simply unbelievable. The kind of commitment he had in this country is also unbelievable."

The chairman of Incepta Pharmaceuticals said many people believe that Bangladesh is not a safe place for investment and many bought homes abroad for safety.

"But he did not do so. He used to say that Bangladesh is his place to invest and he believes in Bangladesh and invested here. Many people do not know the value of this kind of philosophy," Muktadir said.

"If we follow his principles in business, we can see a big change in Bangladesh in the next 15 years."

Mohammad Hatem, vice-president of the Bangladesh Knitwear Manufacturers and Exporters Association, said: "We can learn the ethical business from Rahman."

"Rahman was not only a business leader but also a role model for us. He was a living legend," said Rupali Chowdhury, president of Foreign Investors' Chamber of Commerce and Industry.

Mahbubul Alam, president of the Chittagong Chamber of Commerce and Industry, said Rahman himself was an institution.

"He was like an ambassador of the country and business community."

Members of the private sector and the younger generation are enjoying the benefits of the hard work and dedication of Rahman, said Shams Mahmud, president of the Dhaka Chamber of Commerce and Industry.

Tareq Rahman, president of the Nordic Chamber of Commerce and Industry, said Latifur Rahman's ethical values are second to none.