Bangladesh's first finance secretary Matiul Islam passes away at 95

Bangladesh's first finance secretary, Md Matiul Islam, widely known as the "doyen of the financial sector" has passed away at the age of 95.

In a statement, his family expressed deep sorrow, saying he died early this morning (20 November).

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

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

Matiul began his professional journey in the Pakistan Civil Service in 1952.

Following Bangladesh's independence, he was appointed the country's first finance secretary in 1972, taking on the crucial responsibility of rebuilding a devastated financial system and overseeing the nationalisation of the banking sector.

Over his distinguished career, he also 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 IIDFC, a non-bank financial institution where he was a director.

A top-ranking graduate of Dhaka University with a BCom degree, Matiul later obtained a Master's in Public Administration from Harvard University.

His contributions earned him significant recognition, including the "Lifetime Achievement Award" from DHL and The Daily Star in 2011, and another lifetime achievement award from the Institute of Chartered Accountants of Bangladesh (ICAB) in 2021.

'I offer my deepest respect from the core of my heart'

In a Facebook post today, Md Asaduzzaman Khan, former managing director of the Industrial & Infrastructure Development Company (IIDFC), wrote, "Banking and financial sector legend Matiul Islam Sir passed away around 12:30am.

"On the 5th of this month, when he was in the ICU of United Hospital, I went to see him. He was in a deep. No sense or response. That was the last time I saw him."

He also said, "As the country's first finance secretary, his contributions to building and reconstructing the financial foundation of a war-ravaged Bangladesh were unforgettable. He believed and often said 'If the banking system survives, Bangladesh will survive'."

"After completing his responsibilities with the government, the World Bank, and UNIDO, he turned his attention to building financial institutions at the age of 65. He founded IIDFC and several other financial institutions. He also played a remarkable role in establishing two rating agencies — CRISL and CRAB."

Asaduzzaman further wrote, "Alongside this, he continued writing. Every day he worked on something—always writing. His articles were published in The Daily Star, The Financial Express and other newspapers."

"For this multi-talented, principled, courageous, hardworking, visionary, honest and kind-hearted man, I offer my deepest respect from the core of my heart," he added.