‘A legacy that would be followed locally, recognised globally’

Expressing his gratification over the development of the process of transforming Unique Group, the country’s one of the largest business groups, into Noor Ali Family Trust, Chairman of the Board of Trustees Mohd. Noor Ali has said they are creating a legacy that will be followed by local companies and also recognised as one of the finest trusts globally.

He was speaking at the first anniversary of the establishment of the trust at Unique Group’s corporate office in the capital’s Banani on Wednesday. A cake was cut to celebrate the day.

Through the trust, the group has developed a unique business model of creating synergised companies that.will enjoy the best entrepreneurial independence and group-wide synergies.

Mohd. Noor Ali gave all the credit for initiating the trust to his wonderful, supportive family who inspired and dared him to transfer all shares of Unique Group to it.

A pioneer of many businesses in the country who likes to take risks for greater gain, Mohd. Noor Ali said he had been working to establish the trust for two years and a half and had gone through the documents of the biggest trusts in Bangladesh and across the world as well. “So far, our trust documents are the best, and many companies will follow us,” he added.

He expressed satisfaction with the activities of the trust and hoped its performance would be better in the next two years.

According to the trust officials, Mohd. Noor Ali’s wife Selina Ali is the vice-chairman of the trust while his three daughters are its members. The daughters have transferred their Unique Group shares to the trust.

Speaking about including more members in the trust in the future, Mohd. Noor Ali said having less experience would not be a problem.

“What a person needs to have is honesty, and he has to be industrious. The trust will be more workable if people having these qualities are included,” he said.

Mohd. Noor Ali, also the managing director of Unique Group, urged his employees to work with honesty and integrity, maintain compliance, and not to resort to malpractice.

Shaking all sorts of temptations off, good governance is needed to make the process of pioneering such a trust easier, he said.

He also urged the government to patronise such initiatives. “I think the government should make the process tax-free.”

Dr Khondaker Showkat Hossain, advisor to Unique Group, said the trust has got its structure in its first year.

He said Unique Group did not grow overnight. “Now its transformation into a trust will not be an easy task. In the perspective of Bangladesh, this is a rare incident.”

Recalling Mohd. Noor Ali’s university life when he was a student union leader, Showkat said, “His thinking power is the talent that distinguishes him from others. He never fears any situation and can take the necessary steps at the right time.”

Syed Sanowarul Hoque, chief executive officer and also the member secretary of the trust, said this is a business trust that aims to take the legacy of the group and Mohd. Noor Ali to the next level.

“Selina Noor Charitable Foundation is a significant part of the trust. It will work on health, education, and many other rights,” he added.

Md Shakawath Hossain, chief executive officer of UHRL; Gazi Md Shakhawat Hossain, chief executive officer of estate, finance, and procurement; Md Sharif Hasan, director of regulatory affairs and also the company secretary; Major Nasimul Huque (Retd), general manager of HR and admin; and Md Abdullah Al Mamun, general manager and head of the MD Secretariat, were present at the programme, among others.