Sir Fazle Hasan Abed: May we never fail to treasure his ideas and ideals | The Business Standard
Skip to main content
  • Latest
  • Epaper
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Sunday
June 22, 2025

Sign In
Subscribe
  • Latest
  • Epaper
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
SUNDAY, JUNE 22, 2025
Sir Fazle Hasan Abed: May we never fail to treasure his ideas and ideals

Economy

Zahid Hussain
22 December, 2019, 12:30 pm
Last modified: 22 December, 2019, 03:48 pm

Related News

  • Bold taxation but conventional expenditures
  • Tariffs may cut exports to US market; Bangladesh should go for negotiation right away: Zahid
  • Bangladesh cannot unilaterally defer its LDC graduation timeframe: Zahid
  • Restricting leadership to one person is detrimental for any organisation: Zahid Hussain
  • World Bank prediction reflects current economic realities

Sir Fazle Hasan Abed: May we never fail to treasure his ideas and ideals

He always believed in moving on, bettering the better, and never surrendering to complacence

Zahid Hussain
22 December, 2019, 12:30 pm
Last modified: 22 December, 2019, 03:48 pm
Sir Fazle Hasan Abed: May we never fail to treasure his ideas and ideals

Excellence was his motto, thinking big a habit and producing results his ever-growing passion.

The body of a development legend – Sir Fazle Hasan Abed – has been buried in Banani today. It is and it will never be too late to add to reflections on how this always mildly smiling man meandered his way through many different alleys and highways of development with a sense of purpose and determination that will constitute the standard of motivation for many in the generations to come.

The more you say about Sir Abed, the less adequate it feels because words cannot capture the depth and breadth of this great soldier in breaking the path of deeply ingrained social and economic processes. Other than of Sir Abed, can anyone come up with a better sketch portraying the embodiment of thinking out of the box?  

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

We analyze, theorize and agonize on the causes and consequences of poverty and underdevelopment. Sir Abed respected the diagnostics, but never believed in agonizing over the perceived futility of individual initiative to change the course of history, knowing very well the tenacity of barriers that have to be overcome to bring social change. He succeeded in doing so because he truly believed in taking the initiative himself, learning from doing, his own experience as well as others, and to never be a prisoner of one's own preconceived notions. 

From an accountant to the world's most accomplished development practitioner, a man with boundless vision, he showed how small beginnings can be scaled up to realize the aspirations that initially seem well beyond what can practically be accomplished. When reality challenged him, he changed the reality instead of allowing it to change him. However, he was a believer in the art of the possible.  He adapted his strategies and tactics when circumstances convinced him that change was needed to make sure that the power of vested interests do not derail his mission. Pragmatism can be the enemy of change, but change can be thwarted if pragmatism is not paid its due.  No one knew it better than Sir Abed.

He never believed in going it alone--a path to nowhere. He collaborated with other key actors in the field in the spirit of healthy competition and taking the initiative to disable the free rider problem that often inhibits collective action. Within his own institution, he built teams organized around a well specified goal, small or big, and allowed the creativities of the individuals in the team to flourish towards achieving them.  He never missed holding teams accountable for the goals assigned. 

Institutions grow on merit but are held together by the loyalty of the insiders to its mandate.  While an institution can quickly degenerate if loyalty takes precedence over merit, no institution can survive purely on merit.  The art of building nimble institutions, abreast with the changing times, is to find that optimal balance between merit and loyalty.  Sir Abed was one such artist.   

Excellence was his motto, thinking big a habit and producing results was his ever-growing passion. And boy did he produce results! From helping the cyclone distressed people, fighting a war of liberation to laying the bricks of building a nation from the grassroots through non-formal education delivered using unconventional  methods, public health services, micro finance, women empowerment, self-evaluation, partnership with agencies responsible for local level service delivery, reaching out to the distant poor in hard to reach areas and building big business enterprises—you name it. Sir Abed left a mark everywhere. 

Forbes lists people leading in personal wealth accumulation every year. Alas, there is no list of people leading in social capital accumulation using exactly the same methods--investment and innovation. Surely, Sir Abed would have topped such a list year after year because he never stopped growing! He built a Multi-National Institution of a kind that has no parallel yet. 

Economic growth analytics debate the role of leaders in steering growth. The identity, beliefs and policies of the leader determine how the growth enabling factors such as capital and technology evolve in an economy. Recent empirical work shows leaders matter for the economic performance of nations through the policies they craft and the institutions they develop. This branch of growth research points to an important interaction between the effect of leaders and a society's institutions. Leaders seem to matter for growth and development particularly when institutions are weak. Sir Abed strived to fill that void from before the inception of the country and worked relentlessly to build an institution that eventually will generate its own leadership and, therefore, not depend on individual persona to remain a going concern. It is premature to pass a judgment on how successful Sir Abed has been on this front, but he surely has not left without sowing the seeds.

There will never be another Abed bhai. No one will be happier than Abed bhai himself to see his accomplishments overtaken. He always believed in moving on, bettering the better, and never surrendering to complacence. Let's hope this dream of his will live on. Only then will Abed bhai's soul truly Rest in Peace! 

The author is an economist.
 

Top News

Sir Fazle Hasan Abed / Zahid Hussain

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • A US Air Force B-2 Spirit Stealth Bomber (C) is flanked by 4 US Marine Corps F-35 fighters during a flyover of military aircraft down the Hudson River and New York Harbor past York City, and New Jersey, US 4 July, 2020. REUTERS/Mike Segar/File Photo
    B-2 bombers moving to Guam amid Middle East tensions, US officials say
  • Foreign Affairs Adviser Md Touhid Hossain at the 51st Session of the Council of Foreign Ministers of the Organisation of Islamic Cooperation (OIC) in Istanbul, Turkey on 21 June 2025. Photo: Courtesy
    Bangladesh urges global community to hold Israel accountable for its actions
  • Erdogan met Iran Foreign Minister Abbas Araghchi on the sidelines of an Organization of Islamic Cooperation meeting in Istanbul. Photo: Collected
    Erdogan tells Iran FM resuming nuclear talks with US only way to solve dispute

MOST VIEWED

  • BUET Professor Md Ehsan stands beside his newly designed autorickshaw—just 3.2 metres long and 1.5 metres wide—built for two passengers to ensure greater stability and prevent tipping. With a safety-focused top speed of 30 km/h, the vehicle can be produced at an estimated cost of Tk1.5 lakh. Photo: Junayet Rashel
    Buet’s smart fix for Dhaka's autorickshaws
  • Collage of the two Shahjalal University of Science and Technology (SUST) students -- Swagata Das Partha (left) and Shanto Tara Adnan (right) -- who have been arrested over raping a classmate after rendering her unconscious and filming nude videos. Photos: Collected
    2 SUST students held for allegedly rendering female classmate unconscious, raping her, filming nude videos
  • File photo of containers at Chattogram port/TBS
    3-month interim extension sought for Saif Powertec to operate Ctg port terminal
  • Photo: Collected
    All BTS members officially complete military service as Suga gets discharged
  • Dhaka Medical College students demonstrate over five demands in front of the institution's main gate in Dhaka on 21 June 2025. Photo: Courtesy
    Dhaka Medical College closed indefinitely amid protests over accommodation, students ordered to vacate halls
  • Infographic: TBS
    Airlines struggle to acquire planes amid global supply shortage

Related News

  • Bold taxation but conventional expenditures
  • Tariffs may cut exports to US market; Bangladesh should go for negotiation right away: Zahid
  • Bangladesh cannot unilaterally defer its LDC graduation timeframe: Zahid
  • Restricting leadership to one person is detrimental for any organisation: Zahid Hussain
  • World Bank prediction reflects current economic realities

Features

Illustration: TBS

Examophobia tearing apart Bangladesh’s education system

6h | Panorama
Airmen look at a GBU-57, or Massive Ordnance Penetrator bomb, at Whiteman Air Force Base in Missouri, US in 2023. Photo: Collected

Is the US preparing for direct military action in Iran?

17h | Panorama
Monsoon in Bandarban’s hilly hiking trails means endless adventure — something hundreds of Bangladeshi hikers eagerly await each year. But the risks are sometimes not worth the reward. Photo: Collected

Tragedy on the trail: The deadly cost of unregulated adventure tourism in Bangladesh’s hills

1d | Panorama
BUET Professor Md Ehsan stands beside his newly designed autorickshaw—just 3.2 metres long and 1.5 metres wide—built for two passengers to ensure greater stability and prevent tipping. With a safety-focused top speed of 30 km/h, the vehicle can be produced at an estimated cost of Tk1.5 lakh. Photo: Junayet Rashel

Buet’s smart fix for Dhaka's autorickshaws

1d | Features

More Videos from TBS

The strategy that keeps Iran alive despite US sanctions

The strategy that keeps Iran alive despite US sanctions

5h | Others
What Badiul Alam Majumder said about the election of representatives to the upper house

What Badiul Alam Majumder said about the election of representatives to the upper house

6h | TBS Today
No chance of postponing LDC graduation: Commerce Secretary

No chance of postponing LDC graduation: Commerce Secretary

6h | TBS Today
The budget has put too much pressure on the private sector: Shamim Ehsan

The budget has put too much pressure on the private sector: Shamim Ehsan

6h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net