Early Life
Muhammed Aziz Khan was born in Dhaka, Bangladesh, in 1955. He is the son of an army officer. At the age of 18, he embarked on his entrepreneurial journey, partnering with a friend in the import trade. Khan received an MBA from the Institute of Business Administration, University of Dhaka (IBA), in 1980. He began his business career trading chemicals.
Rise to Success
Khan founded the Summit Group, which started as a trading firm in 1985. He identified opportunities in Bangladesh's infrastructure needs and focused on power generation. In 1997, Summit Group built Bangladesh's first independent power plant, which was a pivotal moment in his career. Summit Power International (SPI) was incorporated in Singapore in 2015 and is now a leading infrastructure developer in South Asia. In 2019, JERA, a Japanese energy company, invested $330 million for a 22% stake in Summit Power International, which valued the company at $1.5 billion. By 2024, Summit Group's power projects generated nearly 20% of Bangladesh's electricity.
Key Business Strategies
Khan's business strategy focused on identifying and addressing critical gaps in Bangladesh's developing economy. This involved building partnerships with multinationals like General Electric, IFC, and Wärtsilä, and securing significant financing for infrastructure projects. He incorporated Summit Power International in Singapore to leverage the country's financial markets and governance framework.
Philanthropy
Khan and his wife, Anjuman Aziz Khan, established the Anjuman & Aziz Charitable Trust (AACT), which supports disadvantaged communities through education and healthcare initiatives. In 2022, they became the first Bangladeshis to join the UNICEF International Council.
