When legendary entrepreneur SK Akij Uddin borrowed from banks, he would consider himself a custodian of the money and would remain vigilant in ensuring timely repayment.

This is what Mamun Rashid, an economic analyst and former chief executive of Citibank in Dhaka, shared about Akij Uddin at a book launching ceremony at the Pan Pacific Sonargaon in Dhaka yesterday.

“Today, the CEOs and chairmen of banks remain rather concerned about whether disbursals will be repaid. If borrowers consider themselves a custodian of the money, then they wouldn’t default,” he said.

The event was organised by Bonik Barta, a Bengali national daily, which published a book on various aspects of Akij Uddin’s life.

Akij Uddin, who was a self-educated and self-made businessman, began his entrepreneurial journey with just Tk 17 in his back pocket at a young age.

Rashid said there is a huge shortage of reports or case studies on entrepreneurs in Bangladesh.

Such people play a very big role in the country’s economy. If we don’t uphold the story of these entrepreneurs in front of the new generation, there will be a massive gap.

— Muhammad Abdul Mazid A former chairman of NBR

“He was one of the entrepreneurs and personalities who led industrial development in Bangladesh,” said Muhammad Abdul Mazid, a former chairman of the National Board of Revenue.

“Such people play a very big role in the country’s economy. If we don’t uphold the story of these entrepreneurs in front of the new generation, there will be a massive gap,” he added.

Akij Uddin himself studied only until class 7, but educated his children highly.

While most youths that travel abroad for studies seldom return to the country, Akij Uddin ensured that his children came back to Bangladesh soon after graduating.

Professor Syed Ferhat Anwar, a former director of the Institute of Business Administration at Dhaka University, said Akij Uddin would take each step consciously, not blindly.

He was also generous about his employees and committed to his family members.

Mashiur Rahman, economic affairs adviser to Prime Minister Sheikh Hasina, said Akij Uddin was successful even though he did not have formal education as he dared to take new initiatives.

“If one has no idea what will increase the demand for something, then their investment will never succeed. Akij Uddin understood this very well and that’s why he succeeded,” he added.

SK Bashir Uddin, managing director of Akij Bashir Group, said his father used to make consumer goods but never believed in consumerism.

“He was economical but not miser,” said Bashir.

“I always speak with my head down in front of my older brother. Again, my younger brother speaks with his head down in front of me. We had a cordial relationship. My father taught it,” he added.

Dewan Hanif Mahmud, editor of Bonik Barta, delivered the inaugural speech.

At the beginning of the programme, a documentary on Akij Uddin was screened.

Rashed Al Mahmud Titumir, chairman of the department of development studies at Dhaka University, Manwar Hossain, chairman of Anwar Group of Industries, ASM Mainuddin Monem, managing director of Abdul Monem Limited, and other members of Akij Uddin’s family also spoke.

Among others, Naser Ejaz Bijoy, CEO of Standard Chartered Bangladesh, FH Ansari, managing director of ACI Agrolink Limited, and Mominul Islam, CEO of IPDC, were present.