A banker with grace

Agha Hasan Abedi was a man of many parts – a banker and a gentleman. After obtaining a Master’s degree in English literature from Lucknow University, he joined as a young officer the then newly opened Habib Bank, which was owned by a Muslim family. He did well there and post Partition, when the bank moved its headquarters to Karachi from Bombay, Abedi moved too.

Abedi excelled and remained with Habib Bank till 1957. On a matter of his personally held principle, he parted company. Soon, he established United Bank, which at the time of nationalisation of banks by Zulfikar Ali Bhutto in 1974 had emerged as the second largest financial institution of the country.

Agha Hasan Abedi was a visionary. Anticipating what banking would be post the nationalisation era, he set up an international bank, domiciled out of Luxembourg, much before the nationalisation order came. In less than 17 years of operations this bank became the world’s seventh largest private bank.

The institution was shut down in 1991. All those associated with Abedi have this unflinching faith that, if not afflicted with ill-health, he would have steered the bank to safe shores.

Abedi was blessed with a very pleasant disposition. He spoke softly, gently and with respect to his addressee, regardless of who the individual was. He treated all members of the bank with equal magnanimity of grace and care. When his international bank was at its zenith, he never floundered in his demeanor towards his first employers – the Habibs. He treated them with dignity – a quality that is rare in corporate world.

To us, then a young lot, he talked at length about humility, compassion, care, concern, value of joint personality as a management precept, inter-dependence, balancing the moral-material balance sheet – all things alien to the ruthless global corporate world. He believed in service to humanity, without bias of any sorts. Alongside President Jimmy Carter, he set up the Global Foundation 2000, a charity organisation dedicated towards amelioration of human sufferings, across countries and cultures.

Abedi had an aura around himself – a halo of infallibility; only he would know, if it was natural or a put on. He was no saint. Nor an angel. But an exceedingly remarkable human being – truly worthy of emulation.

Abedi brushed shoulders with the then global political leadership. This included his friendship with US President Carter, British PM James Callaghan, China’s strong man, Deng Xiao ping, Russia’s Mikhail Gorbachev, Indira Gandhi of India and of course Ziaul Haq of Pakistan.

Despite the harsh treatment by Zulfikar Ali Bhutto, he silently campaigned for him to be kept away from the gallows. Abedi’s patriotism was unquestionable.

Pakistan’s wellbeing was close to his heart. He exported talented manpower of Pakistan to over 73 countries; his bank offices internationally functioned as extension of Pakistan’s diplomatic presence. He lent financial support to the country when it needed the foreign currency resources the most.

Abedi was subjected to die in loneliness, having been betrayed by his confidants. But all great men suffer treachery from their closest comrades. He was recently posthumously awarded the ‘Hilal-e-Imtiaz’ which in my estimation did not serve the purpose of recognising the man, who had loved and done so much for his country.

If contemporary history has been very unkind to Abedi, I am of the belief that later history, which will be devoid of ‘passion’, will resurrect his memory to its full glory and grace. He set up charities in several countries, ranging from Bangladesh to Zimbabwe; from Nigeria to Hong Kong.

In Pakistan, he setup the INFAQ Foundation, which to date caters to charitable work in the fields of health and education. He joined in founding GIK Institute, NUST etc.

Agha Hasan Abedi will continue to live in many hearts.

The writer is a senior banker.