Salman F Rahman: A Deep Dive into His Life, Business, and Influence

Salman F Rahman is a well-known businessman and politician from Bangladesh. He is the Vice Chairman of BEXIMCO Group, one of the country’s largest and most influential business conglomerates. In addition to his business ventures, he has played a key role in Bangladesh’s political landscape as an adviser to Prime Minister Sheikh Hasina.

Despite his business success, Salman F Rahman has also faced legal controversies and financial investigations that have sparked public debates. This article provides a detailed, well-analyzed, and comprehensive look at his life, achievements, and challenges, going beyond existing online sources.

Early Life and Education

Salman F Rahman was born on May 23, 1951, in Nawabganj, East Bengal (now Bangladesh). Coming from an influential Bengali Muslim family, his father, Fazlur Rahman, was a state minister in Pakistan. His mother, Syeda Fatina Rahman, belonged to the prominent Dewan family of Haibatnagar.

Education

• Salman completed his Higher Secondary Examination (HSC) from Notre Dame College, Dhaka in 1968.
• He then pursued higher education at the University of Karachi, focusing on business studies.

His education played a vital role in shaping his business acumen, which would later make him one of Bangladesh’s top entrepreneurs.

The Rise of BEXIMCO Group

In 1972, shortly after Bangladesh gained independence, the government nationalized his family’s jute mill. This event forced Salman and his elder brother, Sohail F Rahman, to start a new business venture.

Formation and Growth of BEXIMCO

• They founded the Bangladesh Export and Import Company Limited (BEXIMCO) with an initial focus on exporting seafood and crushed bones to Europe.
• They then entered the pharmaceutical sector, which became a key part of BEXIMCO’s success.
• Over time, BEXIMCO expanded into textiles, ceramics, real estate, banking, media, and energy.

Today, BEXIMCO is one of Bangladesh’s largest private sector employers, with over 70,000 employees worldwide.

BEXIMCO Pharmaceuticals: A Global Expansion

BEXIMCO Pharmaceuticals, a flagship company of BEXIMCO Group, was founded in 1976. It became the first Bangladeshi company to be listed on the London Stock Exchange’s Alternative Investment Market (AIM).

Achievements of BEXIMCO Pharma

• It has received U.S. FDA approval, allowing it to export drugs to the United States.
• It supplies medicines to over 50 countries worldwide, including Canada and the European Union.
• It has established itself as a top pharmaceutical brand in South Asia.

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Entry into Banking and Finance

Salman F Rahman has played a key role in Bangladesh’s financial sector:

• In 1982, he co-founded AB Bank, the first private bank in Bangladesh.
• In 1985, he sold his stake in AB Bank and acquired a 30% stake in IFIC Bank.
• He became Chairman of IFIC Bank in 2010 and was re-elected in 2016.

His influence in the banking industry has significantly shaped Bangladesh’s financial landscape.

Political Career

Early Political Involvement

Salman F Rahman first entered politics in the 1990s by forming his own party, Samriddhya Bangladesh Andolan. However, it was short-lived. He later joined the Bangladesh Awami League and became an active supporter of Prime Minister Sheikh Hasina.

2018 Elections and Government Role

• In 2018, he contested the Dhaka-1 parliamentary seat under the Awami League banner and won by a significant margin.
• He was appointed as the Private Industry and Investment Adviser to Prime Minister Sheikh Hasina.
• His role in the government is crucial in shaping investment policies and attracting foreign investors to Bangladesh.

Legal Controversies and Criticism

Bank Account Freezing by BFIU

In August 2024, the Bangladesh Financial Intelligence Unit (BFIU) froze the bank accounts of Salman F Rahman and his son, Ahmed Shayan Fazlur Rahman due to alleged financial irregularities.

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Money Laundering Allegations

In September 2024, the Criminal Investigation Department (CID) filed 17 cases against Salman F Rahman and 27 others for allegedly laundering $83 million abroad under the pretense of export trade.

Public Backlash

Following these allegations:

• Dr. Syed Abdullah Muhammad Taher, a leader of Bangladesh Jamaat-e-Islami, publicly called for a boycott of BEXIMCO Group.
• Many critics labeled him as a “notorious robber”, questioning his financial dealings.

Despite these controversies, Salman F Rahman remains a powerful figure in business and politics.

Board Memberships and Affiliations

Salman F Rahman has been actively involved in various business and trade organizations:

• Former President of Federation of Bangladesh Chambers of Commerce & Industries (FBCCI).
• Board Member of Bangladesh Securities and Exchange Commission and Dhaka Stock Exchange.
• President of Association of Television Channel Owners (ATCO).
• Chairman of Bangladesh Enterprise Institute (BEI).
• Chairman of Abahani Limited Dhaka, a leading sporting club.

His influence extends beyond business and politics, shaping Bangladesh’s economic policies.

Personal Life

Salman F Rahman is married to Syeda Rubaba Rahman and has one son, Ahmed Shayan Fazlur Rahman. He prefers to keep his personal life private, focusing more on his business and political roles.

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FAQs

Who is Salman F Rahman?

Salman F Rahman is a Bangladeshi businessman and politician. He is the Vice Chairman of BEXIMCO Group and a former adviser to Prime Minister Sheikh Hasina.

What is BEXIMCO Group?

BEXIMCO Group is one of Bangladesh’s largest conglomerates, with investments in pharmaceuticals, textiles, ceramics, energy, banking, and media.

What controversies has Salman F Rahman faced?

Salman F Rahman has been accused of financial misconduct and money laundering, leading to multiple cases filed against him in 2024.

What role does Salman F Rahman play in Bangladesh’s politics?

He is a member of the Bangladesh Awami League and served as the Private Industry and Investment Adviser to Prime Minister Sheikh Hasina.

Is BEXIMCO Pharmaceuticals an international company?

Yes. BEXIMCO Pharmaceuticals exports medicines to over 50 countries, including the United States, Canada, and the European Union.

Conclusion

Salman F Rahman is a key player in Bangladesh’s economy and politics. As the Vice Chairman of BEXIMCO Group, he has contributed to the country’s business growth, particularly in the pharmaceutical and textile industries. However, his controversies and legal challenges have also drawn significant public attention.

Despite the criticisms, he remains a powerful figure, influencing Bangladesh’s business and political landscape. His future remains uncertain, but his impact on Bangladesh is undeniable.