Jahangir Siddiqui

Jahangir Siddiqui is a Pakistani businessman and philanthropist.

Career

In 1971, Siddiqui founded Jahangir Siddiqui & Co. Ltd, which by growth and acquisition eventually became the JS Group of companies.^[1] Today, the JS Group of companies includes businesses that are a part of: JS Financial, JS Industrial, JS Infocom, JS Property, JS Resources and JS Transportation.^[2] JS Financial is the oldest of the group's businesses, and includes: Jahangir Siddiqui & Co. Ltd., JS Global Capital Limited, JS Bank Limited, JS Investments Limited and EFU Insurance Group and Bank Islami.^[2]

History

To raise money to start the company after his father's initial refusal to lend him Rs 6,000 to start a business, Siddiqui secretly sold his family's car to a junk dealer for Rs1,800, along with the family's two-year stock of wheat and coal, all of which were stored in the family's house at the time.^[1] When discussing this start as a businessman, Siddiqui has been quoted as saying "Positive thinking distinguishes an entrepreneur from the rest of the crowd. He’s never deterred by difficult circumstances.”^[1] On May 15, 1962, with the support of his family, Siddiqui became a local distributor of ice-cream and coca-cola.^[3] In 1966, he completed a bachelor's degree in commerce, and began training as a chartered accountant in 1967.^[3] His interest in stock markets eventually led him to starting his own company in October 1971.^[1]

By the time he retired from the company in 2003, JS Group comprised a range of businesses with over 18,000 employees.^[1] Siddiqui and his wife Mahvash went on to found the Mahvash & Jahangir Siddiqui Foundation, a charitable, non-profit organization,^[4] focusing on healthcare, education, sustainable development through social enterprise and emergency relief in Pakistan.^[5]

References