History
Uttara Group of Industries traces its origins to Uttara Motors Limited, the flagship of the group,[5] founded in 1972 by Mukhlesur Rahman.[6]
In October 2010, Mujibur Rahman, deputy managing director of Uttara Group of Companies, was elected chairman of the Eastern Insurance Company Limited.[7]
In August 2014, Uttara Group announced plans to build a 1.5 billion BDT factory to build Bajaj motorcycles.[8] It owns 11 per cent of IPDC Finance.[9]
In June 2021, the Deputy Managing Director, Mehdadur Rahman Durand, died in a fire accident that occurred in his home in Gulshan one week ago.[10] The group made a donation to Prime Minister Sheikh Hasina's relief fund.[11]
Ambassador of Japan to Bangladesh, ITO Naoki, gave the Order of the Rising Sun, Gold Rays with Rossete to the chairman of Uttara Group, Matiur Rahman, for his role in Bangladesh-Japan trade in March 2022.[12][13] Rahman was part of the International Chamber of Commerce Bangladesh delegation to Dubai.[14] The group launched a book on students health written by ASM Waheeduzzaman.[15]
The directors of Uttara Group are also directors of Uttara Finance and Investment Limited.[16] Bangladesh Bank removed them from the board of Uttara Finance an investigation found 51 billion BDT in irregular loans including to the directors and subsidiaries of Uttara Group in December 2022.[16][17] Uttara Finance asked the Anti-Corruption Commission to prevent SM Shamsul Arefin from leaving the country.[18] Bangladesh Bank dissolved the board of directors of Uttara Finance and Investments Limited on 28 December 2022 after it found 51 billion BDT in irregular transactions.[17] The majority of the irregular loans, not recorded in public statements, went to various subsidiaries of Uttara Group of Industries.[17] It found the involvement of Mujibur Rahman, director of Uttara Finance and Investments Limited and managing director of a number of subsidiaries of Uttara Group of Industries.[17]
