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Published : 21 Nov 2025, 12:47 AM
Matiul Islam, who built the early foundations of Bangladesh’s economy as the country’s first finance secretary, has died at 95.
His family confirmed his death on Thursday morning, sharing their “deep sorrow” and reflecting on his love and wisdom.
Industrial and Infrastructure Development Finance Company (IIDFC) Chairman Syed Mahbubur Rahman told bdnews24.com that the funeral prayer will take place after Friday’s Jummah prayer at Gulshan Central Masjid.
Born on Jan 24, 1930, in Gobindopur Union of Muksudpur Upazila in the then Faridpur district (now Gopalganj), Matiul served as Bangladesh’s envoy to the World Bank for eight years and to the United Nations for 11 years.
He also ventured into business, founding four companies and serving as chairman of IIDFC, a Bangladeshi financial services firm, a role he held from the organisation’s inception until 2023.
He was tasked with implementing the scheme for nationalisation of the banking sector, according to IIDFC.
Matiul, who began his career with Pakistan Civil Service in 1952, was appointed the first finance secretary of Bangladesh in 1972 and was assigned the daunting job of rebuilding the shambolic financial sector following the Liberation War.
He also worked as the secretary to the Ministry of Industries, alternate executive director in the World Bank, head of UNIDO-World Bank Cooperative Program, Vienna.
He played a key role in the establishment and site selection of Jahangirnagar University.
Reminiscing with journalist Sheikh Abu Taleb, he once said it was under his leadership that the proposed campus was shifted from Gazipur to Savar.
While serving as industries secretary, he brought investment from Dubai to help set up Arab-Bangladesh Bank (now AB Bank) in the private sector.
Matiul is the founder chairman of AB Bank Ltd, International Leasing and Financial Services, National Housing Finance & Investment and the Industrial.
He also promoted Credit Rating Agency of Bangladesh (CRAB).
Matiur earned his Bachelor of Commerce degree from Dhaka University and Masters in Public Administration from Harvard University in the United States.
He is also a fellow of the Institute of Chartered Accountants of Bangladesh.
Matiur headed the Financial Institutions’ Promoters’ Association (FIPA) and Board of Trustees of the Bangladesh Institute of Governance and Management (formerly Civil Service College), Agargaon, Dhaka.
