The demise of A Rouf Chowdhury, a dynamic leader of Rangs Group, engulfed numerous people in sorrow who loved and honoured him for being a guardian blessed with the quality of far-sightedness.

The eminent entrepreneur passed away due to prolonged illness at his residence in Dhaka this noon.

The prolific businessman founded over 50 companies in the last four decades whose business interests range from automobiles, pharmaceuticals, real estate, IT, deep-sea fishing, telecommunications, electronics, and food processing to bank and insurance and organisations.

The chairman of Rangs Group and Sea Resources Group started his career in a pharmaceutical company and began his own business in 1979.

Chowdhury's far-reaching thoughts opened doors of economic development and introduced new dimensions to the country's trade and industry.

A graduate in business management from the prestigious American university Massachusetts Institute of Technology (MIT), Chowdhury was the founder director of Mediaworld Limited, the parent company of renowned English daily, The Daily Star.

He spearheaded the creation of Bank Asia in 1999 by acquiring the Bangladesh operations of the Canadian Bank of Nova Scotia. It later acquired the Bangladesh operations of Pakistani bank Muslim Commercial Bank.

His extensive experience and dynamic leadership have driven Bank Asia toward excellence and prosperity.

The bank now serves over 80 lakh accountholders, including 55 lakh agent banking accountholders.

The bank so far recruited over 5,500 agents, which have been providing banking services to more than 35 lakh clients.

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

Chowdhury, who played an extraordinary role in the country's financial inclusion, 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 will settle all transactions by way of using apps and online modules.

Chowdhury had a wide range of experience in several industries, including automobile, telecom, pharmaceuticals and petroleum.

He was the resident manager of two American pharmaceutical companies in Bangladesh.

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

Both Rangs and Sea Resources Groups, which are comprised of 35 companies, were formed under his dynamic leadership.

The huge success of the companies of the two groups during a short span of time substantiates A Rouf Chowdhury's charismatic leadership and progressive mindset, Bank Asia says in its website.