Independent Press Award
Khuda Buksh: The Pioneer of Life Insurance in Bangladesh
Muhammad Obaidur Rahim
Khuda Buksh, the Pioneer of Life Insurance in Bangladesh, is the story of a wizard of life insurance who believes passionately in a cause and dedicates his life to it. Buksh chose to serve humanity by sparking a movement in life insurance from 1935-1973 in three countries India, Pakistan, and Bangladesh—even during political unrest. Buksh remains a celebrated figure who transformed the Bangladeshi life insurance industry after calling off his time at EFU.
Revealing a forgotten era in the history of Bangladesh and Pakistan, this business biography showcases how Buksh worked tirelessly to establish a life insurance business while overcoming religious and cultural prejudices against the industry. Furthermore, his passion, devotion, and unique sales strategies led him to train, motivate, and manage thousands of salespeople during his career. He played a pivotal role in the economic development of Bangladesh, transforming the modern narrative around the life insurance industry.
Buksh's leadership and management style, including business practices developed in India that he introduced to his homeland, East Bengal, are a huge part of the legacy he left. When Buksh became a manager at Eastern Federal Union Insurance Company Limited (EFU), he used inventive techniques to recruit and motivate his sales force and challenge the public's negative perception of life insurance. Finally, he earned a reputation as the country's most magnetic and dynamic sales executive and the wizard of life insurance. His tireless efforts made him create a promising and profitable social service business. Buksh played a key role in transforming South Asian government policy on the modern insurance system.
Drawing from interviews with dozens of contemporaries and years of research, author Muhammad Obaidur Rahim, also Buksh's son, traces the roots of life insurance evaluation and development and leadership strategies that helped the industry penetrate nearly every part of society. He categorically highlights his father's contribution to the history of Bangladesh and the modern life insurance spectrum in the country.
Along the way, the readers will closely examine Buksh's involvement in establishing regional rights. For students and scholars specializing in South Asian studies or international business relations, Buksh's story provides a vivid portrait of political and social changes. It demonstrates how the life insurance industry influenced a critical period in the history of the Indian subcontinent. The book may also interest professionals studying executives, management techniques, and heading tomorrow's business leadership.