Uttara Finance and Investments Limited Overview

Uttara Finance and Investments Limited is a leading financial institution in Bangladesh, established in 1996. It has a long history of providing financial services to its customers.

The company is headquartered in Dhaka, the capital city of Bangladesh, and has a strong presence in the country's financial market.

Uttara Finance and Investments Limited offers a range of financial products and services to its customers, including savings accounts, loans, and investments.

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The management team at Uttara Finance and Investments Limited includes Mohammed Azad, who has been serving as the Director of Finance/CFO since October 30, 2024.

Mohammed Azad's role is crucial in overseeing the financial aspects of the company. He is responsible for ensuring the accurate reporting of financial transactions, which is essential for maintaining transparency and trust with stakeholders.

The company's Managing Director, Shamsul Arefin, has been involved in a controversy surrounding the siphoning off of funds without approval from the management or the board. He took BDT 24.22 crore from the company without reporting it in the financial statement.

Mohammed Azad and Shamsul Arefin are the only two individuals mentioned in the article sections provided, therefore, there is not enough information to provide a comprehensive list of the management team.

The Board Composition of Uttara Finance and Investments Limited is a crucial aspect of their management and leadership. The company has a Chairman and three Board Members.

Mohammad Maksudur Rahman serves as the Chairman, a position that likely requires strong leadership and decision-making skills. He has been in this role for an unspecified amount of time.

The Board Members are Mohammad Salahuddin Chowdhury, Babul Chandra Debnath, and Mohammad Faisal Ahmed. Babul Chandra Debnath is the newest member, joining the board on May 17, 2023.

Here is a summary of the Board Composition:

The Managers and Directors of Uttara Finance and Investments Limited are responsible for overseeing the day-to-day operations of the company. Mohammed Azad serves as the Director of Finance and CFO, a role he has held since October 30, 2024.

Mohammed Azad's tenure as Director of Finance and CFO is a relatively recent development, highlighting the importance of having experienced leaders in key positions.

Mohammad Maksudur Rahman is the Chairman of the Board of Directors, a position he holds indefinitely.

The Board of Directors consists of several members, including Mohammad Salahuddin Chowdhury and Babul Chandra Debnath, who have been serving on the board since 2023-05-17.

Uttara Finance and Investments Limited appointed Md. Wali Ullah as CEO on January 19, and also appointed him as Managing Director on the same day.

The company concealed the actual amount of term deposits mobilized from its clients, reporting a deposit amount of BDT 1,877 crore as of December 2019, when the actual amount was BDT 2,603.20 crore.

The lender also used this tactic in the calculation of disbursed loans, reporting a total loan or lease given of BDT 1,877 crore, when the actual amount was BDT 3,802 crore.

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Consumer lending is a crucial aspect of the financial industry, and recent developments in this sector are worth noting. Uttara Finance and Investments Limited has appointed Md. Wali Ullah as CEO, a move that may have implications for the company's future direction.

Uttara Finance and Investments Limited has also appointed Md. Wali Ullah as Managing Director, a key position that will oversee the company's operations. The company's market performance has been impacted by these changes, with a 3.25% decline in the past 5 days.

The company's market capitalization is $12.84 million, a significant figure that reflects its size and influence in the industry. Other notable companies in the consumer lending sector include Bajaj Finance Limited and Bajaj Finserv Ltd.

Here's a snapshot of the market performance of some key players in the consumer lending sector:

The weighted average market performance of these companies is a good indicator of the overall health of the consumer lending sector. According to the data, the weighted average market capitalization of these companies is $25.79 billion.

In August last year, the lender provided vouchers or receipts of term-deposit receipts (TDRs) over BDT 236 crore to Bluechip Securities Limited (BSL), which is the company where UTTARAFIN Director Mr. Mujibur Rahman serves as the Managing Director.

The problem is that these vouchers were forged, meaning they were fake. In reality, the firm did not deposit any money with UTTARAFIN, according to the BB report.

This is a serious issue because it means that UTTARAFIN is essentially lending money to a company that doesn't actually have the funds to repay it. The BB inspection teams were unable to find out how many false TDRs have so far been provided because the UTTARAFIN management declined to provide information.

If BSL fails to repay the loan, UTTARAFIN will find itself in a precarious situation. The BB report pointed out this risk, highlighting the potential consequences of UTTARAFIN's actions.

Uttara Finance and Investments Limited has had a volatile performance in recent times. The company's stock price has seen a significant decline over the past year, with a current year performance of -25.16%.

Looking at the short-term performance, the company's stock price has dropped by -9.85% in the current month and also in the 1 week time frame. This is a concerning trend that investors should take note of.

Here's a breakdown of the company's performance over different time periods:

The company's leadership team includes Mohammad Maksudur Rahman as the Chairman and Mohammad Faisal Ahmed and Mohammad Salahuddin Chowdhury as Directors/Board Members.

Uttara Finance and Investments Limited has been involved in several controversies and issues.

False term deposits were provided to Bluechip Securities Limited, with vouchers worth over BDT 236 crore. The firm's Managing Director, Mr. Mujibur Rahman, is also the Director of UTTARAFIN.

The lender concealed the actual amount of term deposits mobilized from its clients, reporting BDT 1,877 crore as of December 2019, when the actual amount was BDT 2,603.20 crore.

The undisclosed funds of the term deposits, worth BDT 726 crore, were diverted to other sectors, likely to help scamsters plunder the funds.

The lender also used a similar tactic in calculating the disbursed loans, with the total loan or lease given by UTTARAFIN being BDT 1,877 crore as of December 2019, but the actual amount being BDT 3,802 crore.

The destination of the undisclosed amount of BDT 1,998 crore remains unknown, as the UTTARAFIN management refused to provide information.

The BB is still carrying out an investigation into the matter, and if proof of involvement of any UTTARAFIN official or board member is found, punitive measures will be taken.

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It's interesting to see how UTTARAFIN is responding to the irregularities detected by the BB. Mr. Matiur Rahman, the vice president of UTTARAFIN, claims that the irregularities are "one-sided information".

He also claims that UGC had not borrowed BDT 336 crore from UTTARAFIN, but rather that Uttara Motors Limited received the amount upon the maturity of its term deposits with the financial institution.

UTTARAFIN's vice president says the BB should crosscheck its findings once again, and that they will certainly follow all the instructions from the banking regulator.

The lender offered an apology to the BB, but Mr. Matiur Rahman says they would have run into further trouble if they hadn't used those words.

Uttara Finance and Investments Limited has a physical office located in JBC Tower, 10 Dilkusha C/A, Motijheel, Dhaka, Bangladesh.

You can reach them by phone at 02-9568207 or send a fax to 02-9552461.

Their email address is [email protected], and you can also visit their website at www.uttarafinance.biz.

The office is open from 10am to 6pm, Bangladesh time, during business hours.

Uttara Finance and Investments Limited observes Fridays as their weekly holiday.

Uttara Finance and Investments Limited has experienced significant fluctuations in its stock performance over the past few months.

The company's stock has seen a decline of -3.25% in just one day, and a more substantial drop of -9.85% over the past week.

In the current month, the stock has continued to decline, with a loss of -9.85%.

Looking at the performance over the past month, the stock has dropped by -13.14%.

However, the company's stock has shown a more positive trend over the past three months, with a gain of +13.33%.

Over the past six months, the stock has declined by -19.05%.

And, unfortunately, the company's stock has taken a significant hit this year, with a loss of -25.16%.

Here is a summary of the company's performance over different time periods: