Prominent Bangladeshi industrialist Syed Manzur Elahi passed away on Wednesday morning at a hospital in Singapore.
Mutual Trust Bank Managing Director and CEO Syed Mahbubur Rahman confirmed the matter, adding that his family was making arrangements to bring his body back to Dhaka later in the day.
Elahi, chairman of Apex Group, was a key figure in Bangladesh’s business sector.
He was the founding chairman of Mutual Trust Bank and Grey Advertising Bangladesh.
Elahi’s business journey began in 1972 with Manzur Industries, dealing in leather trading.
In 1976, he acquired the state-owned Orient Tannery for Tk12.22 lakh, establishing Apex Tannery.
Fourteen years later, Apex Footwear started its journey and is now the country's leading shoe exporter.
Beyond business, Elahi played a crucial role in governance, serving as an adviser in Bangladesh's caretaker governments in 1996 and 2001.
He also served as president of the Metropolitan Chamber of Commerce and Industry (MCCI) and chaired the Dhaka University Alumni Association from 2004 to 2013.
Elahi was a trustee board member of the Centre for Policy Dialogue (CPD).
Born on September 26, 1942 in Kolkata, Elahi was the son of Sir Syed Nasim Ali, former chief justice of the Kolkata High Court.
He completed his economics degree at the University of Calcutta before pursuing postgraduate studies at Dhaka University, where he was involved in student politics with the Bangladesh Students' Union.
His passing has cast a shadow over Bangladesh’s business community, with tributes pouring in from various sectors remembering his contributions.
Chief Adviser Dr Muhammad Yunus expressed profound sorrow over the passing of Syed Manzur Elahi.
In a condolence message, he said Elahi had been a distinguished figure in Bangladesh’s entrepreneurial landscape.
"A patriotic businessman, he played a pivotal role in the growth of the country’s leather industry. Through his unwavering dedication, Apex Footwear emerged as Bangladesh’s leading footwear exporter."
Yunus prayed for the eternal peace of the departed soul and extended his heartfelt condolences to the bereaved family.
Elahi was also the chairperson of the board of trustees at East West University (EWU.)
Prof Dr Mohammed Farashuddin, chief adviser of the university and a close friend of Elahi, expressed his deep sorrow, stating: "Manzur was a visionary and compassionate individual, always dedicated to the progress of our country and its people. Losing a person of his caliber is an immeasurable loss for the East West University family."