The Rahimtoola family originally was based in Bombay and was involved in trading since the late 19th Century as well as politics. Sir Ibrahim Rahimtoola was  Mayor of Bombay and first Indian Speaker of the Indian Imperial Parliament.

His son, Mr. Habib Ibrahim Rahimtoola was a close associate of Mr. Mohammed Ali Jinnah, the founder of Pakistan. Mr. Habib Rahimtoola served Pakistan as its first High Commissioner to the United Kingdom in 1947 upon Independence. In addition, Mr. Habib Rahimtoola held the posts of Ambassador to France, Governor of Punjab and Sindh provinces and Federal Minister for Commerce and Industry before retiring from public service in the late 1950's.

In the late 1950's, Mr. Habib Rahimtoola entered private business by setting up an investment company Bandenawaz (Pvt) Ltd and served on the Boards of various multinational and national companies in Pakistan as either a Director or Chairman including United Bank Ltd, Eastern Federal Insurance, Brooke Bond, Pakistan Oxygen (now BOC Pakistan), Aspro-Nicholas (now Reckitt Beckinzer), Organon Pakistan (part of Akzo-Nobel) and Pakistan Cables (BICC).

Mr. Habib Rahimtoola's eldest son, Farouq Rahimtoola, was educated at Westminster School and Cambridge University where he studied Law before returning to Pakistan to join the family business. In 1974, Mr. Farouq Rahimtoola moved to London and started a shipping and trading company. Prior to his return to Pakistan in 1990 he established Asia Marine (Pvt) Ltd to handle his shipping interests, which was followed subsequently by the Group's other companies which are active today in shipping, commodity representation, trading and pharmaceuticals as well as real estate.

The Group was also a major shareholder in Ray Shipping Enterprises Ltd. Ray Shipping purchased a panamax vessel under Pakistan Flag in 1994 namely “MV ENTERPRISE R” DWT 65,860 LT. At the time, this was the largest bulk vessel under Pakistan Flag. The company however ceased its ship-owning activities due to a dispute with FBR, which is currently sub judice.

The Group Is Run Today By:

Board of Directors

Mr. Farouq Habib Rahimtoola
Educated at Westminster School, London
Cambridge University - M. A. (Law)

Mr. Abbas F. Rahimtoola
Educated at Westminster School, London
Brown University B.A. (Economics & International Relations) – Magna Cum Laude, Class of 1988

Mr. Aly F. Rahimtoola
Educated at Westminster School, London
Brown University B.A. (Economics & Political Science) – Magna Cum Laude, Class of 1992

The Group employs 250 staff across its offices in Karachi, Dubai and London.