Masudur Rahman, president of the Canada-Bangladesh Chamber of Commerce and Industry (CanCham), passed away today at a hospital in Dhaka after battling a serious illness, according to a statement from CanCham.

Rahman, who was also the managing director of Crane Ltd and chairman of Asia Securities Ltd, had been undergoing treatment at the hospital.

He was the founding president of CanCham Bangladesh, established in 2005, and was re-elected to the position multiple times.

He also served as the senior vice president of Dhaka Chamber of Commerce & Industry (DCCI) in 1991, 1992 and 1998.

Rahman played a crucial role in strengthening and expanding Canada-Bangladesh bilateral trade and economic relations.

"The void created in CanCham Bangladesh will never be filled. We pray for the salvation of his departed soul and ask Allah to grant strength to his family members to bear this irreparable loss," the CanCham statement read.