Alican was born in 1916 in Adapazarı to Yusuf Efendi, a third generation Circassian immigrant from Caucasus, and Emine Hanım.

In 1934, Ekrem Alican graduated from the high school, and entered the higher education institute named (Ottoman Turkish: Mekteb-i Mülkiye), where he studied Finance.

He completed his higher education in 1937, and was sent to London School of Economics for further studies on scholarship by the Ministry of Finance.

[1] Right after completion of his second military time, Ekrem Alican resigned from his post at the Ministry after seven years of service, and returned to his hometown.

In 1955, following the Istanbul riots that took place on September 6–7, some leading party members expressed harsh criticism on the government, and demanded the implementation of the "right to prove" (Turkish: ispat hakkı) into the criminal law regarding suppression of press freedom that led to growing inner-party opposition.

[1] Right after the military coup of 1960 on May 27 that overturned the government of Democrat Party, he was appointed Minister of Finance by the National Unity Committee, the junta on May 30.

[1][2] Ekrem Alican was appointed deputy prime minister in the coalition cabinet of Republican Perty's leader İsmet İnönü serving from June 25, 1962, to December 25, 1963.

[1][4] Between 1970 and 1980, Ekrem Alican served as the chairman of the board at the Yapı ve Kredi Bankası, one of the major private banks in Turkey.

Following a religious ceremony at the Teşvikiye Mosque, he was laid to rest in the family cemetery at İkice Müslim village in Adapazarı.