Sir Abed, who was undergoing treatment for brain tumour at Apollo Hospital, breathed his last at 8:28pm, Brac Executive Director Asif Saleh said.
His mortal remains will be kept at the Army Stadium for two hours from 10:30am on Sunday to allow people to pay their last respects to him, Brac said in a statement.
His namaz-e-janaza will be held at 12:30pm at the stadium before he is laid to eternal rest at Banani Graveyard.
Sir Abed founded Brac in 1972 with a small relief and rehabilitation project in North-Eastern Bangladesh. Over the years, the organisation grew to be one of the largest non-government organisations in the world.
He retired from his role as the Chairperson of the governing body of Brac Bangladesh and Brac International and transitioned to the role of Chair Emeritus.
In a statement, Chairperson of the Brac International Board Ameerah Haq described Sir Abed as a rare example of honesty, modesty and humanity.
“His dedication, diligence and strong ethical stance made him ‘Abed Bhai’ to every member of the Brac family,” said Haq, noting that improving the condition of the society’s deprived people was always his priority.
Sir Abed is survived by wife, one daughter, one son and three grandchildren.