Islam is an information technology entrepreneur, investor, philanthropist, civic leader, and writer who heads the FI Investment Group. He was the founder and CEO of the QSS Group and has served on numerous boards and advisory councils including the Board of Trustees of the John F. Kennedy Center for the Performing Arts, Board of Directors, Strathmore Center for the Arts, Ford's Theater Society Board of Trustees and Kennedy Center International Committee on the Arts.
Islam joins the list of other distinguished recipients who have been honoured by Jamia Hamdard which includes N. R. Narayana Murthy (Co-Founder of Infosys), Bharat Ratna C.N. R. Rao, Sheila Dikshit (Former Delhi CM).
Inaugurated by late Rajiv Gandhi, former Prime Minister of India on August 1, 1989, Jamia Hamdard has recently been recommended by the Empowered Committee appointed by the Government of India for recognition as an "Institution of Eminence" and placed at the 5th rank among the 500 or so privately funded Universities of India.