Rafiq M. Habib, Pioneering Pakistani Business Leader and Philanthropist, Dies at 88
Karachi, Pakistan – Rafiq M. Habib, a prominent Pakistani businessman and renowned philanthropist, passed away today at the age of 88. His death marks the end of an era for Pakistan’s financial and social sectors, leaving behind a legacy of entrepreneurial vision and unwavering commitment too education and welfare.
Habib’s influence spanned decades, impacting industries from insurance and banking to education and healthcare. He was a key promoter of companies including Indus Motor Company Limited and served as a consultant for Habib Bank AG Zurich,whose Pakistani subsidiary is Habib Metropolitan Bank. Beyond his business ventures, Rafiq Habib was deeply invested in social responsibility, establishing and supporting numerous welfare projects focused on education, healthcare, relief, and rehabilitation.
According to Habib University’s website, Rafiq was a “trustee of several welfare projects that cover a wide range of activities, including education, healthcare, relief and rehabilitation.” He actively participated in social welfare programmes and served as Trustee of institutions supporting over 8,000 children through primary education, as noted by Stiles.
A dedicated Rotarian and major donor, Habib actively supported the Polio Plus program and championed initiatives like street schools and home schools. He also held notable positions within leading corporations, serving on the Board of Directors of Philips Electrical Company of Pakistan Ltd and as the first chairman of Standard Chartered bank’s advisory board in Pakistan.
Wasif Rizvi, President of Habib University, described Rafiq as a “towering figure of vision, humility, and steadfast service, whose leadership and generosity laid the very foundations” of the university. Rizvi further stated that Habib was “the visionary in the legendary Habib family to imagine a world-class institution of higher learning being founded in karachi,” adding that his generosity stemmed from “an act of devotion to knowledge, to service, and to the belief that education is the noblest inheritance one can give to society.”
Rafiq M. Habib’s passing leaves a void in Pakistan’s business and philanthropic landscape, but his commitment to progress and empowerment will continue to inspire future generations.
