First finance secy Matiul dies at 95
Staff Reporter :
Md Matiul Islam, Bangladesh’s inaugural finance secretary and a towering figure in the country’s financial sector, passed away on Thursday morning at the age of 95.
In a statement, his family expressed profound grief, saying he would be remembered for his generosity, wisdom, and the quiet yet enduring influence he had on those around him.
His namaz-e-janaza is scheduled to be held today after Jummah prayers at Azad Mosque in Gulshan.
Matiul Islam joined the Pakistan Civil Service in 1952 and, after independence, was appointed Bangladesh’s first finance secretary in 1972.
He played a pivotal role in rebuilding the nation’s shattered financial system and leading the nationalisation of banks during the post-war recovery period.
Over the course of a distinguished career, he also served as secretary of the Ministry of Industries, alternate executive director at the World Bank, head of the UNIDO/World Bank Cooperative Programme in Vienna, and UNIDO country director in India, according to the Industrial & Infrastructure Development Finance Company (IIDFC), where he later served as a director.
A top graduate of Dhaka University with a Bachelor of Commerce, he went on to earn a Master’s in Public Administration from Harvard University.
His contributions earned him multiple accolades, including the “Lifetime Achievement Award” from DHL–The Daily Star in 2011 and another lifetime achievement award from the Institute of Chartered Accountants of Bangladesh (ICAB) in 2021.
‘A legend of the financial sector’
In a Facebook post, Md Asaduzzaman Khan, former managing director of IIDFC, said Matiul Islam passed away around 12:30am.
He recalled visiting him in the ICU at United Hospital earlier this month. “He was unconscious, with no response. That was the last time I saw him,” he wrote.
Asaduzzaman highlighted Islam’s foundational role in shaping Bangladesh’s financial architecture after the Liberation War, noting his belief that “If the banking system survives, Bangladesh will survive.”
After retiring from government service and his international assignments at the World Bank and UNIDO, Islam dedicated himself to institution-building, founding IIDFC and several other financial organisations. He also played a key role in establishing the country’s first credit rating agencies, CRISL and CRAB.
He continued writing throughout his later years, contributing regularly to The Daily Star, The Financial Express, and other newspapers.
Describing him as a principled, visionary, and deeply humane individual, Asaduzzaman wrote, “For this multi-talented, courageous and kind-hearted man, I offer my deepest respect from the core of my heart.”