A tribute to an iconic, ideal entrepreneur

If anyone wants to mention the names of the country's iconic entrepreneurs and businessmen, the late Syed Manzur Elahi is definitely one of them. He is not only iconic, but also an ideal businessman who has contributed a lot to Bangladesh's progress through his versatile works.

Syed Manzur Elahi, who died on Wednesday morning at a hospital in Singapore, had developed his own business conglomarate through exemplary business ethics, a strong personality, profound knowledge, and hard work.

After completing his Master's in Economics from the University of Dhaka, Elahi started his career at a multinational company. After Bangladesh's independence, he left the job and started his own business. Had he not ventured into business, we would not have witnessed the rise of such a legendary entrepreneur.

For more than five decades, Elahi expanded his business, led the country's leather industry to a new height, and established a global brand like Apex. Until his last day, he was the chairman of Apex Footwear Ltd, Apex Pharma Ltd, Blue Ocean Footwear Ltd, Apex Enterprises Ltd, and Apex Investments Ltd. He was also the founding chairman of Mutual Trust Bank Ltd (MTB) and Pioneer Insurance Company Limited. He has also established and led some other ventures.

It is truly inspiring that, alongside his business ventures, Elahi dedicated himself to the betterment of society, earning respect from all quarters. His exceptional leadership skills, professionalism, and non-partisanship led to his appointment as an Adviser to the Caretaker Government of Bangladesh twice, in 1996 and 2001.

After I first entered into the territory of the business organisations' leadership in 2004, I got the opportunity to gradually come closer to the country's eminent industrialists and business leaders, including Syed Manzur Elahi. Being a new member of the executive committee of the International Chamber of Commerce, Bangladesh (ICCB), I found him a man of a powerful personality who spoke little but the content of his speech used to be precise and bold. I developed within me deep respect, mingled with some amount of fear, for him. And, hence I maintained a modest distance. Nevertheless, it was my pleasure that I joined him at several meetings, seminars, and discussions.

Elahi was affilatied as the chairmen of the Bangladesh Association of Banks (BAB) and Central Depository Bangladesh Ltd. (CDBL); vice chairman of the Bangladesh Association of Publicly Listed Companies (BAPLC); president of the Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI), and Bangladesh Employers Federation.

It was in early 2008 when I received a phone call from Syed Manzur Elahi that stunned me. At that time, the caretaker government appointed him as the administrator of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI). He asked me to join him in the FBCCI Arbitration Committee, which was formed to resolve the country's apex trade organisation's election-related disputes. A barrister was the third member of the three-member arbitration panel led by Elahi. I felt greatly honoured that he had selected me for an important and sensitive task. It also reflected his trust in me. Again, some years later, when I was elected as the president of the Bangladesh Employers Federation (BEF), I got some valuable advice from him. 

Elahi was a firm believer in the power of knowledge and skill development. His significant contributions to the education sector, including his role as Chairman of the Board of Trustees of East West University, are testament to this. He also served as a member of the Board of Trustees of the Centre for Policy Dialogue (CPD), Diabetic Association of Bangladesh (Owner of BIRDEM Hospitals), and Bangladesh Freedom Foundation (NGO, Successor of Ford Foundation).

Syed Manzur Elahi's wife, Niloufer Manzur, who died in 2020, was the founder and principal of Sunbeams School. Their son, Syed Nasim Manuzr, managing director of Apex Group, is also an eminent industrialist and business leader in the country. Their daughter, Munize Manzur, is now the principal of Sunbeams School. 

Elahi also served as Managing Director of International Publications Limited, the owning company of The Financial Express (FE), the country's leading business daily. His leadership in many other organisations, including the presidency of the Dhaka University Alumni Association (DUAA), enriched his profile.

Though much more could be written about Syed Manzur Elahi, I am not fit for the task. I deeply feel that he left a strong legacy of business ethics and inspirational leadership for us and future generations.  

Fazlul Hoque is a former president of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Bangladesh Employers Federation (BEF). fhoque@plummyfashions.com