[2][3][4] Fakhruddin Valika was born into a business family in Bombay, part of Dawoodi Bohra community.
[5] In 1947, Valika setup the first textile mill of Pakistan near Metroville, Karachi.
[6][7] In 1959, Valika founded the United Insurance Company of Pakistan which was later listed on the Karachi Stock Exchange.
After the nationalisation of Valika Group companies, Fakhruddin Valika was arrested by the Bhutto government and the event was shown live on the television.
[9] Valika was a founding member of the Karachi Stock Exchange.