Prominent business tycoon and renowned philanthropist Rafiq M. Habib passed away aged 88 in Dubai on Wednesday.

Rafiq was the former head of the House of Habib conglomerate, Habib University’s chancellor, and a member of Stile company’s board of directors. He was also the chairman of the Habib University Foundation.

“With profound sorrow, Habib University mourns the passing of its founding chancellor, Rafiq M. Habib (1937-2025), and honours his enduring legacy,” Habib University said in a post on Instagram.