Passing of a business icon

Eminent businessman A Rouf Chowdhury passed away at his home in the capital yesterday after suffering prolonged illness. He was 86.

Founding chairman of Rangs Group and Sea Resources Group, Rouf had his footprint in the country's media as well.

He was one of the directors of Mediaworld Ltd, the company which owns The Daily Star.

The noted entrepreneur is survived by his son Romo Rouf Chowdhury and daughters Romana Rouf Chowdhury and Sohana Rouf Chowdhury.

His first namaz-e-janaza was held at Gulshan Azad Mosque after Asr prayers.

Rouf was laid to eternal rest at his ancestral village in Malkhanagar area of Munshiganj after a second namaz-e-janaza following Isha prayers last night.

People of different walks of life mourned the passing of the dynamic businessman who was blessed with extraordinary farsightedness.

Rouf graduated in business management from the Massachusetts Institute of Technology in the US.

The prolific businessman founded over 50 firms in the last four decades. He invested in automobiles, petroleum, pharmaceuticals, real estate, IT, deep-sea fishing, telecommunications, electronics, food processing, banking, and insurance firms.

He started his career at a pharmaceutical company and began his own business in 1979.

Rangs Group and Sea Resources Group, formed under his dynamic leadership, are comprised of 35 companies. The phenomenal success of these companies vouch for his charismatic leadership.

His thoughts opened doors to economic development and introduced new dimensions to the country's trade and industry.

Rouf spearheaded the formation of Bank Asia in 1999 by acquiring the Bangladesh operations of the Canadian Bank of Nova Scotia.

His extensive experience and dynamic leadership drove Bank Asia towards excellence and prosperity.

The bank now serves over 80 lakh account holders and has so far recruited over 5,500 agents.

He introduced Bank Asia's pioneering agent banking in January 2014, a move that brought millions into the banking system.

Rouf was also a pioneer in introducing "neobank", a kind of digital banking operation where no branch is required as the service is rendered completely online.

In this banking model, the customers of the platform conduct all transactions by using apps and online modules.

In his illustrious career, Rouf was also the resident manager of two American pharmaceutical companies in Bangladesh.

Being in the management of Jamuna Oil Company, he contributed for 15 years to the market development of petroleum products in Bangladesh.

Rouf was the president of Bangladesh Basketball Association for four years. He was a member of the executive committee of Kurmitola Golf Club for over 20 years.

He was associated with many social and philanthropic activities throughout his life.