Shinepukur,
a village on the banks of the Padma River in Dohar Upazila, Dhaka, is home to
one of the most influential families in the region. This family rose to
prominence in post-partition Pakistan under a member of Liaquat Ali Khan’s
cabinet. Fazlur Rahman, one of the most influential politicians of then East
Bengal, founded the family. He also made a name for himself as a businessman,
with many claiming that he was the first Bengali jute mill owner and entrepreneur
during the Pakistani era.
The
family, Urdu-speaking and originally from Shinepukur, became even more powerful
after the independence of Bangladesh. Fazlur Rahman’s two sons, Sohail Fasiur
Rahman and Salman Fazlur Rahman, managed to maintain the family’s success in
business. Under their leadership, Beximco became one of the country’s largest
industrial groups. Additionally, as the former Prime Minister’s Adviser on
Private Investment, Salman F Rahman played a key role in controlling the
financial sector and overall economy over the past decade and a half. However,
following recent political changes in the country, the family’s influence has
significantly diminished. Salman F Rahman is currently imprisoned, and other
family members have remained out of the public eye.
The
family first reached the height of its influence after the Partition of India.
Fazlur Rahman was known for his substantial contribution to the Pakistan
Movement and was a strong advocate of making Urdu the sole national language of
Pakistan. He was also a major proponent of the idea to write Bengali in Arabic
script. The family members still speak Urdu among themselves.
Fazlur
Rahman was born in 1905 to a wealthy, educated Muslim family from East
Pakistan. He completed his secondary education at Bharga High School. In 1929,
he earned a Bachelor of Arts in History, followed by a Master of Laws (LLM)
degree in 1933. He then began practicing law and quickly joined the Muslim
League. Eventually, he became a member of the Working Committee of the Bengal
Provincial Muslim League and the Central Committee of the All Pakistan Muslim
League. In 1937, he was elected a member of the Bengal Legislative Assembly
from Dhaka.
In
1943, Fazlur Rahman became the Chief Whip of the Bengal Legislative Assembly,
and in 1946, he was appointed Minister of Revenue of the Bengal Government. He
was re-elected to the Legislative Assembly in 1946. After Partition in 1947, he
served as the Minister of Education, Commerce, and Refugee Affairs in Liaquat
Ali Khan’s central government. Between 1951 and 1953, he was appointed Minister
of Education and Commerce in Khawaja Nazimuddin’s central cabinet. In the 1954
elections, he was elected a member of the East Bengal Provincial Assembly from
the Dhaka University area as a candidate of the Muslim League.
In
1955, Fazlur Rahman was elected a member of Pakistan’s Second Constituent
Assembly as an independent candidate by the members of the Provincial Assembly.
In 1957, he served as Minister of Commerce, Finance, and Law in the central
cabinet of I.I. Chundrigar. He was also a member of the Executive Council of
the University of Calcutta, a member of the Bengal Royal Asiatic Society, and
the President of the Pakistan Historical Society.
Alongside
his political career, Fazlur Rahman became one of the wealthiest businessmen in
Pakistan. After the creation of Pakistan, the jute and textile industries
became two of the largest industrial sectors in the country, though most of
these industries were based in West Pakistan. Few Bengali entrepreneurs were
granted licenses to establish new businesses during this period. However,
Fazlur Rahman’s close ties to the government ensured that this wasn’t a major
obstacle for him. In 1956, he became the first Bengali to establish a jute mill
in East Pakistan under the name of New Dacca Industries Limited (NDI).
However,
his influence began to wane after Ayub Khan seized power in Pakistan. In 1958,
the day after he took over the government, Ayub Khan issued an order dissolving
the position of Prime Minister in Pakistan. He followed up with two ordinances:
the Public Office Disqualification Order (PODO) and the Elective Bodies
Disqualification Order (EBDO). Under PODO, if someone was found guilty in
court, they could not contest any election under EBDO until December 31, 1966.
On September 4, 1959, 42 politicians from East Pakistan were disqualified under
EBDO, including Fazlur Rahman. This marked the end of his political career. The
influential politician and entrepreneur passed away in 1965.
Following
Fazlur Rahman’s death, the production capacity of New Dacca Industries eventually
dropped to just four tons a day, and NDI fell into heavy debt. Fazlur Rahman’s
two sons, Sohail and Salman F Rahman, took over the business, repaying the
loans and boosting the mill’s production capacity. Eventually, they transformed
the company into an export-oriented enterprise.
After
Bangladesh’s independence, private jute mills were nationalized. Sohail and
Salman F Rahman shifted their focus from NDI’s activities to other sectors. In
1972, the Bangladesh Export-Import Company, or Beximco, was founded, starting
with the business of importing pharmaceuticals.
Under
the 1957 Drug Act, only a few businessmen could enter the pharmaceutical import
business after 1972, with permission from the relevant authorities. However,
being members of a political family, they were already familiar with
bureaucracy. Salman F Rahman also had a friendship with Sheikh Kamal.
Leveraging these connections, Sohail and Salman F Rahman obtained licenses for
importing pharmaceuticals and exporting other goods. Beximco began importing
medicines from Belgium, France, Britain, Germany, and the Netherlands while exporting
seafood and bone powder.
During
the Ziaur Rahman era, initiatives were taken to return state-owned industries
to the private sector. As a result, the sons of Fazlur Rahman regained
ownership of New Dacca Industries Limited in 1978. They then expanded their
business in the jute sector, establishing Sonali Ansh and Esses Exporters Ltd.
In 1979, they founded Shinepukur Jute Spinners Limited. Over the following
decades, their business expanded into other sectors, including real estate,
ceramics, and IT.
According
to relevant people, the special relationship with the state machinery that
began during Fazlur Rahman’s time helped the family strengthen their institutional
foothold in the pharmaceutical industry. Currently, Sohail F Rahman serves as
the chairman of Beximco Group, while Salman F Rahman is the vice-chairman.
Salman F Rahman, a former president of the Federation of Bangladesh Chambers of
Commerce and Industry (FBCCI), also served as the chairman of IFIC Bank.
Besides Beximco Pharmaceuticals, Beximco Group now operates in more than 30
sectors, including textiles, ceramics, real estate, construction, trading, seafood,
ICT, media, and energy.
Several
studies on family businesses in Bangladesh reveal that even during the Pakistan
era, it was not easy to participate in business and economic policymaking in
this region. Along with wealth, strong connections at the state level were
necessary, which Fazlur Rahman effectively utilized. The family strengthened
its relationship with power through Salman F Rahman in independent Bangladesh
as well. Besides his friendship with Sheikh Kamal, his role as a prominent
business leader during the anti-government movement in 1996 also helped him
strengthen his ties with Sheikh Hasina.
Like
his father, Salman F Rahman played an active role in politics. He was a member
of parliament for the Dhaka-1 constituency (Nawabganj-Dohar) in the recently dissolved
12th National Assembly from the Awami League. Allegations exist that, he
expanded his business by influencing economic and trade policies while holding
a ministerial position. He also faced accusations of making unilateral
decisions on granting loans as the bank chairman as well as taking loans under
different names. Bankers claim that Beximco Group now owes at least BDT 560
billion in loans, a significant portion of which is at risk of becoming
defaulted. Following Sheikh Hasina’s fall, Salman F Rahman was charged in
various cases, including murder. He is currently in jail. His companies under
Beximco Group reportedly employ over 60,000 people.
Speaking
anonymously, an economic observer told Bonik Barta, “At various times after independence,
the work of Salman F Rahman and his family contributed positively to
industrialization and employment in the country. However, at other times, they
took advantage of government opportunities and engaged in bank looting. Salman
F Rahman is one of the key individuals who benefited from this situation. His
name also came up in the stock market scandal.”
Most
recently, the CID filed a case against the owners of Beximco Group, Salman F
Rahman and his brother Sohail F Rahman, accusing them of laundering nearly BDT
10 billion abroad under the guise of export trade. The agency claims that from
2021 to 2024, through 17 companies owned by Beximco Group, they received 93
LCs/sales contracts from Janata Bank PLC’s local office but did not bring back
the export earnings of approximately USD 83 million (around BDT 10 billion) to
Bangladesh, instead laundering the money abroad.
Sohail
F Rahman’s son Shahryar F Rahman, and, Salman F Rahman’s son Shayan F Rahman,
were involved in managing the Beximco empire under the second generation.
However, following political changes, Shayan F Rahman has been staying abroad.
When
contacted via WhatsApp on September 25 regarding the ups and downs of managing
the empire built by his grandfather, uncle, and father, Shayan F Rahman told
Bonik Barta, “Throughout our journey, we have faced many challenges. Although
we have retained our 60-70 thousand employees, they and their families have
also faced hardships. Regardless of the obstacles, we have always emerged
stronger. We have always prioritized our employees and our business. What’s
happening now is political. Even the media writes whatever they want. If the
rule of law is upheld, Insha’Allah, we will overcome this situation.”