She had been suffering from various health complications, it said.
Masuda left behind one son and a daughter and a host of relatives and well-wishers to mourn her demise.
Her first namaz-e-janaza was held on the premises of her Moghbazar residence after Zohr prayers while the second janza in front of Jatiya Party’s Kakrail central office after Asr prayers Monday.
The third janaza of the late female MP will be held at Chittagong city's Laldighi Maidan after Zohr prayers on Tuesday and her fourth and final janaza will be held at Gohira village in Raujan after Asar prayers. Later, she will be buried at her family graveyard in the same village.
Meanwhile, Jatiya Party chairman GM Quader, Secretary General Ziauddin Ahmed Bablu and Opposition Chief Whip Mashiur Rahman Ranga expressed deep shock at her death.
In separate condolence messages, they prayed for the salvation of the departed soul and conveyed profound sympathy to the bereaved family members.