Salman F Rahman (সালমান এফ রহমান) Biography

Ahmed Salman Fazlur Rahman (born 23 May 1951) is a Dynamic Bangladeshi Businessman. He was ranked 1685th on the list of billionaires in the world published by Beijing-based Hurun Gobal in 2017.He is the current vice chairman of Beximco Group, one of the largest conglomerates in Bangladesh.Since 2009, he has been serving as the private sector development affairs adviser to the Bangladesh Awami League President Sheikh Hasina. Currently Rahman is acting as the president of several trade bodies including Association of Television Channel Owners (ATCO).

Basic Information

Name Salman F Rahman
Nationality Bangladeshi
Alma Mater University of Karachi
Occupation Vice chairman of Beximco Group
Birthday 23 May 1951
Birth Place Dohar Upazila
Age 67
Spouse Syeda Rubaba Rahman(7th President of Bangladesh)
Father Fazlur Rahman
Mother Syeda Fatina Rahman
Net Worth $1 Billion As Of Jan 15, 2017

Philanthropy

Year Activity
1994-1996
  • Head of Federation of Bangladesh Chambers of Commerce & Industries (FBCCI).
  • He is a director of the Bangladesh Securities and Exchange Commission and Dhaka Stock Exchange.
  • Currently Rahman is acting as the president of Association of Television Channel Owners (ATCO)and LPG Operators Association of Bangladesh (LOAB).
  • He is the chairman of the Board of Governor of Bangladesh Enterprise Institute and the sporting club Abahani Limited Dhaka.

Lifestyle

Politics
  • Rahman entered politics in the mid-1990s.
  • He founded the political party Samriddhya Bangladesh Andolan.
  • Later he joined the Bangladesh Awami League.
  • He was the Bangladesh Awami League nominee from a constituency in Dhaka-1: Dohar Upazila in Bangladeshi general election in 2001.
  • Currently, he is the Private Sector Development Adviser to President of Bangladesh Awami League and Prime Minister of Bangladesh, Sheikh Hasina.
  • Salman F Rahman expressed interest in contesting from Dhaka-1 constituency in the next parliamentary election, scheduled for 30 December 2018.
  • Even though the ruling Awami League is yet to finalize candidates, it had already picked Salman F Rahman for Dhaka-1 constituency.
  • Jatiya Party Presidium Member Salma Islam is the incumbent MP of this constituency.
Website www.salmanfrahman.com

Company Profile

Name Beximco Group
Industry Conglomerate
Founded in 1972; 46 years ago
Headquarter Dhaka, Bangladesh
Subsidiaries
  • The Beximco Group,
  • Beximco Jute Division,
  • Beximco Pharma,
  • Beximco Synthetics Ltd.,
  • Bangladesh Export Import Co. Ltd. – Textiles & Apparel Division,
  • Shinepukur Ceramics,
  • Beximco Petroleum Ltd.,
  • Beximco Power Company Ltd.,
  • Beximco Engineering Limited,
  • Bangladesh Export Import Co. Ltd. – Marine Foods Division,
  • Bangladesh Export Import Co. Ltd. – IT Division,
  • Bangladesh Online,
  • IFIC Bank,
  • Yellow,
  • The Independent,
  • Independent Television,
  • Real VU,
  • Bangladesh Export Import Co. Ltd. – Real Estate Division,
  • Beximco Computers Ltd.,
  • Dhaka Dynamites Bextrade Limited,
  • Beximco Securities Limited,
  • Beximco Communications Ltd. (DTH),
  • Westin Hotels (Bangladesh),
  • Shinepukur Cricket Club
Website www.beximco.com
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Beximco Group (বেক্সিমকো গ্রুপ) : Leading Bangladesh towards prosperity

Business was limited in Bangladesh until Beximco Group, ACI Group, Bashundhara Group, and Navana Group emerged. Like many other countries across the world, Bangladesh saw an Independence begotten of a bloody struggle. When Bangladesh emerged on 26 March 1971, it wasn’t a $752 billion GDP country that it is today. The country initially had a weak economic base that was prone to collapse if subjected to financial stress.

The economy of Bangladesh (then East Pakistan) was in shambles between 1947 and 1971. After its independence in 1971, Bangladesh adopted a socialist economy that required nationalization of all its industries. Disadvantages of a socialist economy hit the young republic harder since the country was dependent on agriculture as a primary industry, with virtual absence of mineral resources, except gas.

Bangladeshi leaders realized that the socialist model gave them a turtle-paced fiscal growth. There was no motivation among the small business owners, compelling lack of entrepreneurial opportunities, deterred by a weak reward system. Hence during the 80s, Bangladesh slowly started privatizing some of its industries through progressive economic policies. Privatization gave birth to new entrepreneurial ventures and strengthened existing ones. The Beximco Group (Bangladesh Export Import Company Limited), founded by Salman F Rahman (সালমান এফ রহমান) and his brother ASF Rahman in 1972, was one of these bolstered companies, along with Navana Group. The company exported and imported jute before it was ceded to the government during the socialist phase. It took almost a decade for Salman F Rahman to get back the company and reorganize it to be a market honcho.

What differentiates Beximco Group (Top Bangladeshi Company) from others is its alignment to the economic growth of Bangladesh. Salman F Rahman realized that the conglomerate will have to diversify its operations to boost the profits of both the company and the country.

Bangladesh lagged in healthcare and medicine. Hence instead of just jute, Beximco started importing pharmaceuticals in lieu for processed and crushed animal bones. Soon the company branched to electric power generation, real estate, textiles, petroleum, banking, aviation, Information Technology, and many other sectors crucial to the advancement of Bangladesh.

Beximco Group became the leading business family of Bangladesh, contributing an increase of 5% to 6% in GDP every year. In 2010, the GDP of Bangladesh crossed the $258 billion mark. It now accounts for more than 75% of the country’s GDP.

Amalgamating everything, Beximco Group offers one of the best diversified corporate culture. The services and products are available extensively in the international market. It’s the largest private sector employer in Bangladesh, employing over 60,000 people. Some of the global clients serviced by the business are Calvin Klein, Zara, Chevron, H&M, JC Penney, and Macys.

It has state-of-the-art manufacturing plants placed near Dhaka, boasting a cost-effective manufacturing framework. The highlight of Beximco’s corporate might is the Beximco Industrial Park in Gazipur. The industrial park is home to many factories that produce high-quality products and ensure green practices.

Corporate social responsibility and philanthropy also come naturally to Salman F Rahman as his company is aligned to the welfare of his country. Beximco Group hosts a special institute called Proyash to aid children with special educational needs. Another initiative, the Gono Sahajjo Songstha, provides education and scholarships to underprivileged children.

There’s a lot this huge corporate juggernaut can contribute to. It’s only been 46 years, and Beximco Group has made a discernable mark in the South Asian market. With more experience and opportunities it can be counted among the fortune 500 companies, where none of the Bangladeshi companies have debuted.

Beximco Group to set up Bangladesh’s first LPG-based power plant

Beximco Group (Top Bangladeshi company) on Wednesday, signed a memorandum of understanding (MoU) regarding establishing the first ever Liquefied Petroleum Gas (LPG)-based power plant of Bangladesh.

The MoU was signed on July 11, 2018, at the Beximco corporate office in Dhaka with the GE Power, a global leader in power generation and a concern of General Electric Company (GE). The plant will be set up by one of the units of the group, Beximco Limited, and will generate 150MW of electricity.

Beximco Group considered a pioneer, is also the oldest and largest conglomerate in Bangladesh. It was established in the 1970s by the two brothers – Salman F Rahman (বাংলাদেশের শীর্ষ ব্যবসায়ী) and Sohail F Rahman. Initially, the group dealt in exports of seafood and crushed bones to the European countries, and imports of medicine in the exchange of the exports.

Beximco has come a long way, and its growth has been impressive across these years. At present, the group operates across a wide range of industries, including pharmaceuticals, marine foods, jute, textiles, information technology, hospitality, media, finance, and real estate among others.

Salman F Rahman, Vice-Chairman of Beximco Group, said in Fortune India, “We had to get the local boys to ferry us in their boats to check out the land.”

However, with the revenue of $834 million, 6 lakh employees, and market capitalization of $1.7 billion on the Dhaka Stock Exchange, Beximco Group has emerged as the largest private sector group in Bangladesh. The achievements of the group wouldn’t not have been possible without the vision and expertise of Salman F Rahman.

Under his aegis, Beximco Group recently took a step towards another new venture, where the first LPG-based power plant of Bangladesh will be set up by its division, Beximco Limited.

The agreement was signed between Salman F Rahman and Russell Stokes, President and CEO of GE Power, on behalf of their respective companies.

After signing the MoU, Salman F Rahman informed the media, “It would be the first LPG-based power plant of the country. There are initiatives for natural gas, coal and oil-based power plants in Bangladesh.”

“The government wants to generate electricity through alternative means. Therefore, Beximco Group has taken up such an initiative to implement the goal. It would be possible to generate about 150MW of electricity. The LPG-based power plant would add a new dimension to the power sector,” he added.

The group already operates its energy venture through two of its establishments – Beximco Petroleum Limited and Beximco Power Company Limited. Established in 2009, Beximco Petroleum Limited locally processes the fuels to ensure energy security to the nation. Whereas, Beximco Power Company Limited has ventured into establishing a 540 MW power project in Bangladesh.

The vice-chairman of Beximco Group expressed hope regarding its new venture. He informed that the plant would most likely begin supplying electricity to the national grid within 2 years.

Asia Pharma Expo to share technological advancements in Bangladesh’s pharmaceutical sector

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Pharmaceutical is one of the exponentially growing sectors in Bangladesh. After achieving a two-digit growth rate annually, the country’s pharma sector is now progressing towards self–sufficiency for meeting the local demand, as well exporting.

The country is home to over 300 pharma companies, including the Beximco Group (headed by Salman F Rahman), Opsonin Pharma Limited, Square Pharmaceuticals etc., which collectively cater to 97 per cent of the total demand. In fact, the sector has emerged as the second largest contributor to the national ex-chequer after tobacco. Also, pharma boasts as being the largest employing sector in Bangladesh.

Salman F Rahman’s (সালমান এফ রহমান) Beximco Pharma, a division of the Beximco Group, has also ventured into the global market, and has made great investments for the establishment of top-notch manufacturing facilities in Bangladesh.

To further boost the country’s pharma manufacturing standards, Asia Pharma Expo 2018 (APE 2018) & Asia Lab Expo 2018 were recently held at Dhaka, Bangladesh. The event was a huge success as over 670 exhibiting companies from across 31 countries worldwide displayed their latest manufacturing technologies.

The event saw a huge footfall of over 11,400 trade visitors, who explored the latest pharma manufacturing technologies & products, including processing machineries, packaging machineries & materials, clean room & utility equipment & services, water treatment & management systems, analytical & biotech lab instruments, project consultants & turnkey contractors, API, pharma bulk actives, excipients, additives and much more.

This was the16th version of the exposition, which was organized by the Bangladesh Association of Pharmaceuticals Industries, in alliance with GPE Expo Pvt Ltd. Over the years, APE has offered an unparalleled business platform to the huge spectrum of the pharmaceutical manufacturing technologies. It has also promoted networking amongst the fraternity of pharma manufacturing plant professionals and the regulatory, research, academics, & local indenting partners. Industry domains like pharmaceuticals, healthcare, biotech, API, neutraceuticals, cosmetics, beverages and distilleries were also discussed at the expo.

Furthermore, there are brighter prospects of pharmaceutical exports from Bangladesh in the coming months. Since the inclusion of the Doha declaration in WTO/TRIPS agreement, nations that fall under the LDC category, have no compulsion to opt for pharma product patent. This implies that they can now legitimately reverse-engineer patented products, and sell in domestic as well as overseas LDC markets. This agreement creates huge export opportunities for Bangladesh, as it is amongst the handful countries that have a strong pharma manufacturing base.

Diversified conglomerate aims to take Bangladesh to the world

Like Bangladesh itself, the growth of the Beximco Group has been rapid and unprecedented. With a presence in more than 45 countries, the company is charged with being one of the country’s most important ambassadors internationally

Founded in the 1970s by two brothers, Ahmed Sohail Fasiur Rahman and Salman Fazlur Rahman, Beximco Group is the largest employer in the private sector in Bangladesh. Employing over 48,000 people worldwide, it has evolved from a modest commodities trading company to a heavily diversified conglomerate with operations in sectors as diverse as textiles, real estate development, media, ceramics, pharmaceuticals, and energy. The company operates both domestically and internationally, and combined, the industries it works in account for nearly 75% of Bangladesh’s GDP.

The country produces 99% of its domestic health requirements, in addition to now stepping up its exports. Reflecting the growth of the sector and indeed the nation, the expansion of the Beximco Group has also been rapid and unprecedented. It is now the largest exporter of pharmaceuticals in the nation, and has a global presence in more than 45 countries.

In addition to manufacturing and selling generic pharmaceutical formulation products, active pharmaceutical ingredients (API), and intravenous fluids, it began exporting to the EU market in 2013, where its ophthalmic products are especially notable. Latanoprost and Timol are two drugs used to reduce the pressure inside the eye for people with open-angle glaucoma or intraocular hypertension, and are already available in Germany, Austria, and other parts of the EU. The Beximco Group’s budget-friendly generic alternatives have been a welcome addition to governments seeking to reduce healthcare costs without compromising on quality.

FDA approval
Beximco Pharmaceuticals and its facilities are already also accredited for export by the regulatory authorities of Australia, Canada, Taiwan, and Brazil, and as of June 2015, the company can boast of having tapped into another major international market. Following the successful inspection of its oral solid dosage facility in its production center at Tongi, the Beximco Group became the first Bangladeshi company to be approved by the U.S. Food and Drug Administration.

This achievement will pave the way for the export of medicines to the U.S. market, which is famous for its exacting standards and regulations.

Among the drugs Beximco Pharma will export are its generic version of the wonder drug, Sofosbuvir, which is made by Gilead Sciences Inc. and known for its effectiveness at treating hepatitis C (it has a 90% cure rate), as well as its hefty price tag. The Beximco Pharma version – which is prescription only – costs nearly half the price per tablet, making it the cheapest treatment for hepatitis C in the world. For an idea of the market potential of this drug, it is worth noting that an estimated 170-185 million people around the globe are chronically infected with the hepatitis C virus.

According to Salman F. Rahman, the Vice Chairman of the Beximco Group and one of its co-founders, the company’s decision to move into the pharmaceutical manufacturing business was its first major milestone, although in retrospect, this move aligns perfectly with the company’s mantra of ‘Taking Bangladesh to the World.’ He explains that previously, the company’s motto was ‘Diversity is Our Strength’. While this is certainly an idea that continues to ring true through the highly diversified portfolio of industries that the Beximco Group is present in, it is clear that the company is developing an increasingly global agenda.

 

Salman F.Rahman

Beximco Pharma is one of the limited few enterprises in Pharmaceutical Industry, which crossed the boundaries of the country to get established in the international arena with their own identity, coverage and reputation. Wise circles at home and abroad labeled Beximco Pharma as one of the top pharmaceutical manufacturing enterprises much earlier. In true sense, for transformation from that position of one of a few, to the country’s best pharmaceutical enterprise of today, the person whose talent, devotion, diligence, sincerity and far-sightedness are intimately blended, is the pioneer personality of the group Mr. Salman F.Rahman also the Deputy Chairman of the group. Today, due to his competent leadership, Beximco Pharma is considered                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               as a dependable pharmaceutical exporter to USA. After emergence as a successful exporter to U.S.A., another feather was added to their crown of success by way of inclusion of the enterprise as a member of London Stock Exchange. Through this event, not only a Bangladeshi Company entered London Stock Exchange for the first time but also any Company even from amongst the countries of the Muslim world entered London Stock Exchange for the first time. In this regard Mr.Salman F.Rahman says he started to think, when neighboring India could export Medicines worth Rs.1400 Cr. a year then why could not we be able? Such precise far reaching thoughts could bring BEXIMCO to today’s position. Not only his own enterprise but also the entire Pharmaceutical industry of Bangladesh got established in honorable position amongst world’s arena for which Mr.Salman F.Rahman’s role is undeniable. In recent past, his election to the position of the President of the Pharmaceutical Industry Association proves recognition of confidence of others in his leadership. Then not only in the field of trade and commerce but also Salman F.Rahman aroused with patriotism, plays an effective role in politics. With the resolve of serving the country, by not keeping his position direct, he is indirectly involved in politics. He is the Advisor to the President of Awami League on private sector related affairs. Beximco Group with employment of 25000 will expand far more with merit and intellect of Salman F.Rahman. Everybody expects reputation and business success of this enterprise will grow further and further in the interest of the country.

Salman F Rahman, a True Inspiration!

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Mr. Salman F Rahman, a top-notch entrepreneur, a successful businessman, a philanthropist and now a proud owner of Bangladesh’s largest corporate venture with an astounding turnover, the man has many accreditations to his credit. A family to more than 48,000 employees, investments in numerous business ventures under his conglomerate company, Salman has left no stone unturned to meet international standards for his giant business venture, Beximco.

Rahman is today heading numerous business enterprises under the parent company, Beximco, namely- Bangladesh Export Import Co. Ltd., Beximco Pharmaceuticals Ltd., Beximco Synthetics Ltd., Beximco Engineering Ltd. et al. He transformed the scenario of business in Bangladesh with some of his most successful ventures in the arenas of textiles, pharmaceuticals, finance and real estate. One of his most successful endeavors includes the Beximco Pharmaceuticals which gained national fame with its precious listing in the Dhaka Stock Exchange. What started as a small-scale company, this pharmaceutical company became one of the country’s biggest achievements and the nation’s pride by grabbing the limelight in the London’s Alternative Investment Exchange.

However, this inspiring personality and now one among the richest business tycoons of Bangladesh, Salman F Rahman faced a period of stress and storm owing to his humble parentage. He and his brother were left to make their own living after the demise of their father in 1966. What was left in the name of his parental property was a small-scale jute mill, which too was later confiscated by the government. Their wait to own their mill back lasted for good ten years, only after the government brought-in a relaxation in its rules. Since then, there was never looking back. With his will, enviable knowledge and a solid experience, he established an experimental company by the name Beximco in 1972. The company later expanded in terms of its revenue and potential to become the country’s largest private business enterprise.

Later, with credible investments into the banking sector of the country Salman F Rahman established the Arab Bangladesh bank in alliance with the Galadari Brothers Group, based in Dubai. He is today leading the International Finance Investment and Commerce Bank as its chairman and holds a stake of more than 30 per cent.

Salman F Rahman has made commendable contributions to uplift the ceramics sector of the country. With hard work and meticulous planning, his company has become the premiere exporter of ceramic products today. Beximco has established itself as an international brand for manufactured ceramic products. His successful ventures have surely won fame and credit to this developing country. Numerous enterprises headed by Beximco Group have made phenomenal contributions in uplifting the economy of the country. Today, he Salman F Rahman is an inspiring icon for the youth of the country.