Rafiq M. Habib, a leading business figure and philanthropist, passed away at the age of 88, as confirmed by Habib University on Wednesday. He was the former head of the House of Habib conglomerate, chancellor of Habib University, and chairman of the Habib University Foundation.
In an official statement, Habib University expressed its deep sorrow over his passing, calling him the “moral and visionary force” behind the institution. “His calm resolve and integrity shaped every step of this journey, and his belief in education’s role in serving the greater good continues to guide our mission,” the statement read.
Rafiq was also active in various social welfare initiatives, serving as a trustee for several projects, particularly in education, healthcare, and rehabilitation. Under his guidance, the family’s educational endeavors reached over 8,000 children.
In the business world, Rafiq M. Habib was known for his vast experience in banking and insurance, promoting several companies, including Indus Motor Company Limited. He also supported initiatives such as the Polio Plus programme and various street and home schools.
Rafiq served as a consultant for Habib Bank AG Zurich and was involved with numerous boards, including those of Philips Electrical Company of Pakistan Ltd and Standard Chartered Bank’s advisory board in Pakistan. His death was regretted and announced at the PSX by Thal Limited, Shabbir Tiles and Habib Insurance Companies, where he chaired the boards of all these firms.
Wasif Rizvi, president of Habib University, praised Rafiq’s leadership, describing him as a visionary who established a world-class educational institution in Karachi. “His generosity was never about recognition, but an act of devotion to knowledge and service,” Rizvi said.
