Aziz Khan (businessman)


Muhammed Aziz Khan is a Bangladeshi businessman, founder and chairman of the Summit Group, one of the largest conglomerates in Bangladesh, whose power projects generate nearly 20% of Bangladesh's electricity. Khan has led Summit Group from starting as Bangladesh's first private sector power producer to a diversified group with investments across power, energy trading, port, telecommunications, hospitality and real estate.
Khan has led Summit in building partnerships with multinationals such as GE, IFC and Wartsila. while securing billions of dollars in financing for infrastructure projects within Bangladesh. Khan pledged to invest another $3 billion into Bangladesh's energy sector.

Early life

Khan is the son of an army officer. His first steps as an businessman were taken with a friend, whose father's death thrust him into the family import business. The 18-year-old Khan borrowed Tk 30,000 from his father to partner in the venture in 1973.
He received an MBA in 1980 from the Institute of Business Administration, University of Dhaka. He studied in Armanitola Government High School and Notredame College, Dhaka.
He started with trading chemicals in Chawk Bazar and Urdu Road in Old Dhaka. Later he expanded his business with support from renowned businessmen such as Anwar Hossain of Anwar Group and Din Mohammad of Phoenix Group. Khan received his early loans from state-owned Pubali Bank and Rupali Bank. He discovered the importance of establishing goodwill that allowed easy financial mobilization.
Later he started trading plastic. In 1988, Khan purchased his first home in Singapore after becoming a permanent resident.

Career

Under the leadership of Khan, Summit Group set up the country's first independent power plant in 1998, Khulna Power Company Limited.
Summit set up the country's first private off-dock facility, Ocean Containers Limited, now known as Summit Alliance Ports Limited which is currently handling about 30% of the country's export and about 10% of the country's import volume.
Summit Communications Ltd is the first company to lay nationwide telecommunication transmission network laying fibre optic to 70% of Bangladesh, and connecting Bangladesh to India and Myanmar through terrestrial fibre optics.
IPCO Ltd, a hospitality and real estate company, is building one five star and one three star hotels, a convention hall and 1000 shops beside the International Airport of Dhaka.
In 2011, Khan led Summit Group in establishing a joint venture with GE to build plants generating 327 megawatts of electricity for Bangladesh. This joint venture secured funding of $327 million, including $112 million from the World Bank.
In 2012, Khan led Summit Group in establishing a joint venture with China Energy Group, the largest government-owned Chinese company, to build various power projects, including a 341 megawatt power plant with a $220 million deal for China Energy Group to provide construction and engineering services.
In 2015, Khan was elected president of the Bangladesh Association of Publicly Listed Companies. He also led Summit Group in winning a deal to build Bangladesh's first high-tech business park, agreeing to invest $207 million to build part of the park across its 232-acre land in Kaliakor, Bangladesh.
In April 2016, Khan, his wife Anjuman Aziz Khan, daughter Ayesha Aziz Khan, brother Zafar Umayyad Khan and nephew Faisal Karim Khan were named in the Panama Papers as operating six offshore companies, mostly in the British Virgin Islands using a Singapore address. Summit Group states that it has no business in any form in Panama, nor it has any link with the legal firm Mossack Fonseca, and that there has not been any mention whatsoever of Khan in "The Panama Papers". The National Board of Revenue has started an investigation into the money laundering and tax evasion histories of 25 Bangladeshi politicians and businessmen, including Khan; and the Anti Corruption Commission Bangladesh has created a three-member committee to investigate. However, the Bangladesh-based British journalist David Bergman has clarified that the only Bangladeshi people linked to offshore companies as released by the ICIJ relate to an earlier 2013 leak of information involving the British Virgin Islands.
In May 2016, Khan was appointed Honorary Consul General of Finland in Bangladesh due to his long-standing business relationship with Finland. In particular, Aziz Khan has led Summit Group in building close trade relationships with leading Finnish company Wartsila, who has supplied machinery and equipment to many of the Summit Group's power project.
Also in 2016, Khan led Summit Group in securing $190 million in a consortium led by Standard Chartered to finance a $335 megawatt power plant. Khan also helped arranged the largest ever direct loan given to a Bangladeshi company in 2016 for $210 million by Asian Development Bank, International Finance Corporation and Islamic Development Bank. Khan has also indicated that Summit may list on the Singapore Stock Exchange, making it the first Bangladeshi company to do so.
In September 2016, Khan announced that Summit Group has established a Singaporean company that it will publicly list in Singapore and help raise $2.5 billion to invest in Bangladesh projects such as a liquified natural gas terminal and additional power capacity.
In January 2017, Summit Group announced that it would build a $500 million LNG terminal in Moheshkhali, Bangladesh. The project brings GE as an equity partner. Khan has said, "We want to ensure constant supply of primary energy for the country by implementing this project."
In 2018, Forbes Asia listed Khan and family 34th richest in Singapore.
In August 2018, Mitsubishi Corporation acquired 25% of Summit LNG Terminal Co Ltd. Summit is building a Floating Storage and Regasification Unit in Moheshkhali, Cox's Bazar with expected COD in March 2019.

Positions

Khan is a permanent resident of Singapore. He is married to Anjuman Aziz Khan. He met Anjuman as her tutor. They live in both Bangladesh and Singapore. Their residence in Dhaka, Serenity's Lodge, was designed by the architect Nahas Ahmed Khalil.
They have three daughters, Ayesha, Adeeba and Azeeza. Ayesha Khan is the managing director & CEO of Summit Power International. His second daughter Dr Adeeba Aziz Khan is a fellow at Wolfson College, Cambridge University. His youngest daughter Azeeza Aziz Khan is one of the Directors of Summit Group of companies. He has four grandchildren.
He is the third of seven brothers. His eldest brother Lt Col Faruk Khan is a Member of Parliament and a former minister. His brothers Zafer Ummeed Khan, Latif Khan and Farid Khan are vice-chairmen of the Summit Group of Companies.
Among his close friends is Hamiduzzaman Khan, an artist and sculptor. Khan commissioned Bangladesh's first ever sculpture park and named it the Prof Hamiduzzaman Sculpture Park. Among the sculptures is the country's longest mural.