The recent passing of Mr Fazlur Rahman, the founder of City Group, has left a profound void in the hearts of many who are mourning the loss of an iconic entrepreneur and industrialist.

His journey from humble beginnings to steering City Group into becoming one of the largest conglomerates of the country, epitomised his honesty, relentless work ethic, nurturing of relationships, and genuine love for the people of Bangladesh. More so, the sixth sense he gained over the last 50 years or so.

As he narrated in my entrepreneurship classes at the Institute of Business Administration, North South University, and BRAC University, Mr. Rahman stepped into the business world at a very young age, when his father was afflicted with paralysis, and he had to take responsibility for his family.

After years of struggles, in 1972, Mr Fazlur Rahman founded City Group by establishing a mustard oil production factory. Although the journey was not always easy, over time he turned City Group into a business empire, comprising 40 enterprises.

In the last fiscal year, the group generated revenue of Tk 33,000 crore. Currently, the house is awaiting the final licence for the establishment of its third economic zone. The hi-tech park it is establishing is also going to be a state-of-the-art one.

The impact of Mr Rahman's efforts was recognised at various levels. He received the Daily Star-DHL Bangladesh Business Awards and I remember one of the jury panel members, Governor Fakhruddin Ahmad, enquired who this Fazlur Rahman was.

My one-line reply was: "Mr Fazlur Rahman was possibly the humblest yet so insightful and no-nonsense businessman in the country."

In a recent encounter where I facilitated a meeting with the principal secretary at the Prime Minister's Office, Mr Rahman's determination remained undeterred even as health challenges prevailed. His commitment to empowering the local youth through employment opportunities was evident, as he succinctly conveyed his vision for generating 5,000 jobs through a special economic zone.

His dedication and the potential of City Group to boost employment impressed the principal secretary, who subsequently approved the case, acknowledging the dire need for more visionary leaders like Mr Rahman.

While I was serving as the head of corporate and institutional banking at Standard Chartered Bank, a senior at commodities giant Kuok Group once said: "If anyone understands edible oil business and its distribution channel in Bangladesh that is Fazlur Rahman."

His philanthropic endeavours mirrored his deep-rooted commitment to societal welfare. From funding educational initiatives to supporting healthcare programmes, Mr Rahman consistently tried to uplift the underprivileged, echoing his belief in the transformative power of education and healthcare for societal progress.

His dedication to social causes resonated profoundly, earning him not just admiration but heartfelt gratitude from communities across Bangladesh. His ethos of giving back to society epitomises the essence of a true leader.

As we honour the life of Mr Fazlur Rahman, let us remember his unwavering dedication, values, and tireless efforts that not only shaped an empire but also transformed countless lives, leaving an enduring imprint.

Reflecting on my own relationship with Mr Rahman, I recall the special connection and many moments we shared. We spent invaluable moments together at his Old Dhaka office and Shantinagar house, and our interactions continued at the Gulshan headquarters of City Group. These times were formative, offering insights into his dedication and leadership firsthand.

We strongly hope and pray his successors and many more will be carrying forward his values and principles.

The author is an economic analyst