Matiul Islam, an icon in finance, is no more

M Matiul Islam, widely known as the "doyen of the financial sector," has passed away at the age of 95. 

"It is with deep sorrow that we announce the passing away of our beloved father and grandfather," his family said in a statement, adding that he breathed his last early this morning.

"He will always remain in our hearts for the love he shared, the wisdom and the quiet but powerful impact he made on everyone around him."

His namaz-e-janaza will be held after Jummah prayers at Azad Mosque in Gulshan tomorrow.

Islam began his career in the Pakistan Civil Service in 1952. He became finance secretary in 1972 after Bangladesh's independence and was handed the formidable task of rebuilding a shattered financial system and implementing the nationalisation of the banking sector.

He later served as secretary of the Ministry of Industries, alternate executive director at the World Bank, head of the United Nations Industrial Development Organization (UNIDO)/World Bank Cooperative Programme in Vienna, and UNIDO country director in India, according to the website of IIDFC, a non-bank financial institution where he was a director. 

Islam graduated with a BCom from Dhaka University, finishing first in his class, before earning a Master's in Public Administration from Harvard University in the United States.

DHL and The Daily Star honoured him with the "Lifetime Achievement Award" in 2011.

The Institute of Chartered Accountants of Bangladesh (ICAB) also honoured him with a lifetime achievement award in 2021.