Syed Manzur Elahi passes away

Eminent businessman and philanthropist Syed Manzur Elahi is no more. He breathed his last on Wednesday morning at a hospital in Singapore while undergoing treatment, at age 83.

He had been suffering from various old age-related complications for some time, his family sources said.

Syed Manzur Elahi was one of the finest industrialists of the country, a man who built not just businesses but reputed institutions -- Apex Footwear, Apex Tannery, Mutual Trust Bank, Pioneer Insurance, Grey Advertising, East West University, Sunbeams School, Manusher Jonno Foundation, Freedom Foundation and many more.

He was not merely an industrialist of great repute but a leader who inspired integrity in his illustrious career.

He was Chairman of Apex Group and also Managing Director of International Publications Limited, the owning company of The Financial Express, and also publisher of the newspaper.

Born on September 26, 1942 in Calcutta, British India, he belonged to a family of legal minds. His father, Sir Syed Nasim Ali, was the Chief Justice of undivided Bengal. While he could have trodden the same path, he chose entrepreneurship and industry.

After completing his education at St Xavier's College, Kolkata, and earning a Master's degree in Economics from the University of Dhaka, he briefly worked at British American Tobacco before venturing into business.

Syed Manzur Elahi, the pioneer of Bangladesh's leather industry, established a company namely Manzur Industries in 1972. A French businessman gave him his first break, a chance to trade leather between Dhaka and Paris. From that moment, there had been no turning back. Four years later in 1976, he bought a state-owned company, Orient Tannery, and set up Apex Tannery with other partners.

As the founding Chairman of Apex Footwear Ltd, he transformed the firm into one of Bangladesh's largest footwear exporters.

His leadership shaped industries that fuelled the nation's economy, extending to Apex Footwear, Apex Tannery, Mutual Trust Bank, Pioneer Insurance, and beyond. His wisdom and vision guided organisations such as the Centre for Policy Dialogue (CPD), the Diabetic Association of Bangladesh, and The Financial Express.

Twice, the nation called upon him to serve as an Adviser of caretaker government, and twice, he answered. He also played key roles in the Bangladesh Association of Banks (BAB), Bangladesh Bank, the Metropolitan Chamber of Commerce and Industry (MCCI), and several other financial and industrial institutions.

His contributions to Bangladesh's economic landscape earned him prestigious honours, including 'Business Executive of the Year 2000' by AMCHAM, 'Business Person of the Year 2002' by The Daily Star and DHL, and a Lifetime Achievement Award in 2023 from UKBCCI.

In 2020, he faced a profound loss when his wife, Niloufer Manzur, the founder of Sunbeams School, was taken by the pandemic. Yet, he remained steadfast, a man less whole but no less determined.

On Wednesday, his story reached its final chapter. But legends do not end -- they echo. His name will be whispered in boardrooms, etched into ambition, and carried in the steps of those who walk in his shoes -- quite literally.

Syed Manzur Elahi leaves behind his beloved family -- his daughter, son, daughter-in-law and grandchildren, relatives and dear friends.

His first Namaz-e-Janaza will be held today (Thursday) at 10:30 am on the East West University premises, Dhaka, and a second one after Zuhr prayers at Azad Mosque, Gulshan-2, Dhaka.

Messages of condolence pour in as leading businesses, chamber bodies and organisations have mourned the passing away of eminent industrialist and former adviser to a caretaker government Syed Manzur Elahi.

The mourners also extended heartfelt sympathies to the bereaved family of the visionary business leader.

Chief Adviser Prof. Muhammad Yunus and Finance Adviser Salehuddin Ahmed joined the mourners to condole his death.

Mir Nasir Hossain, former president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), said Mr Elahi was a disciplined and highly talented entrepreneur.

"He was not just a businessman, but was also deeply involved in many social and civic organisations."

He had worked with dedication and demonstrated exceptional leadership at institutions like the FBCCI, the Dhaka University Alumni Association, and East West University.

Mr Hossain also credited Mr Elahi as a pioneer in the domestic leather industry.

BUILD chairman Abul Kasem Khan remembered Mr Elahi as a mentor and a guide. "He was a guardian to us. Whenever I met him, he'd listen patiently and offer valuable guidance."

"His demise is an irreparable loss, especially at a time when we need his wisdom for sustainable business and economic growth," added Mr Khan.

Mr Elahi ensured the sustainability of his businesses by preparing a competent next generation to lead them, he noted.

Anwar Ul Alam Chowdhury, former president of BGMEA, recalled Mr Elahi's invaluable guidance during economic and business crises, citing: "He was a genuine leader, and we've lost an icon whose absence will be deeply felt."

Mr Elahi always emphasised honesty in business and was deeply patriotic with a strong commitment to the industry.

The Centre for Policy Dialogue (CPD), the country's oldest private think tank, expressed deep sorrow over the passing of its board member, Mr Elahi.

In a condolence message, it highlighted his contributions as the chairman of Apex Group and the founding chairman of Mutual Trust Bank PLC.

"His remarkable journey in trade and industry was marked by profound leadership and innovation, positioning Apex Group as a leading business conglomerate both nationally and internationally," reads the message.

"His suggestions enriched CPD's work, and he frequently chaired CPD dialogues where his insightful comments stimulated meaningful discussions. His bold and perceptive opinions inspired many. His absence will create a significant void in the business sector."

The Dhaka Chamber of Commerce and Industry (DCCI) also mourned the demise of Mr Elahi, describing it as an irreparable loss to the business community.

DCCI president Taskeen Ahmed credited Mr Elahi for pioneering the export of footwear and leather products, which helped establish the country's reputation in the global market. "His contributions played a crucial role in developing the local industry and boosting exports."

Mr Ahmed also highlighted Mr Elahi's relentless efforts to improve the business environment and create employment opportunities in Bangladesh.

"The institutions he established play a significant role in the country's economic development. The business community will always remember his contributions to business, economy and social development."

jasimharoon@yahoo.com and talhabinhabib@yahoo.com