Book Review
Khuda Buksh Commemorative Volume, edited by
Roushan Ara Rahman, Obaidul Karim et. al.,
(Khudabaksh Memorial Trust and Foundation, Dhaka, 2009), price Taka 500.00
The Khuda Buksh Commemorative Volume is an entrepreneurial review of a
personality who made very outstanding contributions to the development of
Insurance industry during Pakistan period. While discussing his role in the
steady growth of insurance industry, the contributors have dealt with many
contemporary problems concerning a nascent industry like insurance. For
religious reasons, not very many Muslims were attracted then to buying
insurance policies. Contributors tried to show how Khuda Buksh (1912-1974)
reversed the trend by dealing with his method of insurance business, recruitment
and training of staff, making them committed to insurance career. A number of
sections have been devoted to his business personality, and human aspect of his
approach to influence people.
Quite a number of contributors, including some foreign writers in the
volume, have elaborated on how Khuda Buksh made insurance his dream and how he
made life insurance what was unacceptable for religious reasons, a popular
pursuit in the country. “Life Insurance was his Mission”, says his German
colleague Wolfram W. Karnowski (p.19). Through his most unusual leadership and
drive Khuda Buksh made Eastern Federal Union the most flourishing industry for
the then Pakistan and for that he got, as is attested by this book, due
recognition from both government and the people.
Business history makes an independent genre of literary pursuits. This
branch of intellectual exercise has not yet much developed in our country. The
Dhaka Chamber of Commerce and Industries has recently published a book of this
genre titled the Business History of Dhaka. The Asiatic Society in Dhaka
gave intellectual support to this project. The book has received wide response
from the readership. Readers are keen to know the success stories of those who
earned glories not only for themselves but also for others and for the nation
as a whole. Their ideas, initiatives, courage, determination, innovations are
undoubtedly very motivating to the younger generation. ‘From poverty to
prosperity’ has been a common theme of the business history of the Americans
throughout their history.
In the line of general business history, a number of contributors have
enumerated Khuda Buksh’s secret of success. As they have observed, he was by no
means a charming physique. He was short and unassuming, but as people came in
contact with him they found unique charisma in his character. One writer
remarks that Khuda Buksh attracted people to him by his inviting manners,
unique ideas, proverbial punctuality, sympathy and kindness and a forgiving
disposition. He felt for others and others duly felt for him. Contributors to
the book commonly feel that this was one of his important secret of success.
Hard work and sharing outlook and efficiency took him higher and higher in rank
and status in his profession. As a life insurance professional he used to tell
his younger colleagues in training, ‘small savings accumulated can create big
security and a small security may be a jumping pad to big success’. He counseled not from pedantic theories from
textbooks but from his own experiences and outlook, and at the same time he was
vastly learned in the insurance business, as attested by many
contributors.
Not very many books are there in Bangladesh on the
entrepreneurial history. In the industrial societies entrepreneurial
biographies are very common and very popular at that. Bangladesh is yet to
develop this creative branch of knowledge. The present book will undoubtedly
contribute a great deal to the development of business history for Bangladesh.
Let more and more books of this genre be published so that these may serve as
sources of inspiration and motivation for the younger generation.
Sirajul Islam*
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