Business Icon Syed Manzur Elahi Passes Away at 83

Syed Manzur Elahi, a renowned business leader and chairman of Apex Group, has passed away at the age of 83. He breathed his last around 7:30 am today while undergoing treatment in Singapore.

Former BASIS president Syed Almas Kabir, whose mother is a niece of Syed Manzur Elahi, confirmed the news to The Business Standard. He stated that Elahi’s immune system had weakened due to aging. While he initially recovered from a lung infection, he later developed a stomach infection.

Both of his children were by his side at the time of his passing, Almas Kabir shared in a Facebook post.

Syed Manzur Elahi was the founding chairman and chairman of Mutual Trust Bank PLC (MTB). A leading entrepreneur in Bangladesh, he received several prestigious awards for his contributions to trade and industry, including Business Executive of the Year 2000 by the American Chamber of Commerce (AMCHAM), Bangladesh, and Business Person of the Year 2002.

Beyond his achievements in business, he served as an Adviser to the Caretaker Government of Bangladesh on two occasions, in 1996 and 2001.

After graduating from St. Xavier’s College, he earned a master’s degree in Economics from the University of Dhaka. He began his professional career at Pakistan Tobacco, a multinational company.

Following Bangladesh’s independence, he embarked on his entrepreneurial journey by establishing Apex Tannery. With a vision for international expansion, he later founded Apex Footwear, pioneering the country’s shoe export industry. By adopting Japanese quality control standards, Apex Footwear successfully entered the Japanese market. He also played a crucial role in expanding Bangladesh’s footwear exports to Europe, partnering with Italian footwear businessman Adelchi to further strengthen his global presence.

Syed Manzur Elahi’s ancestral home was in Bainan village of Howrah district in West Bengal.

His father, Sir Syed Nasim Ali, was the chief justice of undivided Bengal in Calcutta. His eldest brother, Justice S A Masud, also served as chief justice at the Calcutta High Court and was honored with the Padma Bhushan award as well as the Friends of Bangladesh Liberation War recognition. Among his other brothers, Syed A Moudud and Syed Manzur Elahi moved to what was then East Pakistan, while another brother, Syed A Mansur, settled in West Bengal.