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City Group

City Group
Company typePrivate
IndustryConglomerate
Founded6 February 1972 (as City Oil Mills)[1]
FounderFazlur Rahman[2]
HeadquartersCity House, House # NW(J) 06, Road # 51, Gulshan-2, Dhaka- 1212, Bangladesh
Key people
Md. Hasan (director)
ProductsConsumer goods, foods, steel, printing & packaging, shipping, power & energy, shares and securities, insurance, media, healthcare etc.
BrandsTEER, BENGAL, Sun, Natural, Jibon, Quick Bite
Websitehttps://citygroup.com.bd/

City Group (Bengali: সিটি গ্রুপ, stylised as citygroup) is a Bangladeshi conglomerate. It began on 6 February 1972 as a mustard oil company venture under the name City Oil Mills. It presently owns more than 25 major concerns located throughout Bangladesh.

History

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City Group was established by Fazlur Rahman, a business magnate in the private sector of Bangladesh. City Group began on 6 February 1972 as a mustard oil company venture.[3] After its first project, City Group invested in new fields, including manufacturing, industry and trading. More enterprises were established in the early 1990s; these included consumer goods, foods, steel, printing & packaging, shipping, power and energy, shares and securities, insurance, media, and healthcare.[4]

On 4 October 2017, the government of Bangladesh approved the export of 57,273 tones of sugar by Deshbandhu Group and City Group.[5]

City Hi-Tech Park

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City Group plans to build a Hi-Tech Park in Demra, Dhaka which would be the biggest hi-tech park developed by a private company.[6] The park is intended to be used to manufacture technology products such as microprocessors, chips, circuits, mobile phones and laptops.[7]

Controversy

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On 14 July 2022, A Chittagong court issued an arrest warrant for City Group Chairman Fazlur Rahman, in a case filed by the Bangladesh Standards and Testing Institution (BSTI) for not maintaining standard Vitamin A levels in soybean and palm oils.

Prior to that, on October 20, 2019, BSTI inspector Rajiv Dasgupta filed a case as the group’s “Teer” oil failed to pass the "Vitamin-A" test in BSTI lab. In the case statement, the allegation was brought against Fazlur Rahman saying that he violated the government order and act by not following edibles oil fortification with Vitamin A Act-2013. [8]

List of companies

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City Group operates over 25 major concerns:[9]

See also

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References

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  1. ^ "City Group : Timeline". Archived from the original on 29 October 2016. Retrieved 4 May 2014.
  2. ^ "City Group Chairman Fazlur Rahman passes away". The Business Standard. 25 December 2023.
  3. ^ "City Group: Timeline". www.citygroup.com.bd. Archived from the original on 29 October 2016. Retrieved 29 October 2016.
  4. ^ "Bottled soybean oil up, as refiners renege on promises". The Financial Express. Dhaka. 24 July 2012. Retrieved 20 October 2013.
  5. ^ "City Group, Deshbandhu get nod to export sugar". The Daily Star. 4 October 2017. Retrieved 8 June 2021.
  6. ^ "City Group to set up hi-tech park in Demra". The Financial Express. Dhaka. Retrieved 2 December 2022.
  7. ^ Hasan, Mahmudul (20 August 2021). "City Group to build Tk 5,000cr hi-tech park". The Daily Star. Retrieved 2 December 2022.
  8. ^ "Ctg court issues arrest warrant against City Group chairman". The Daily Star. 14 July 2022. Retrieved 14 July 2022.
  9. ^ "City Group : Concerns". www.citygroup.com.bd. Archived from the original on 29 October 2016. Retrieved 29 October 2016.
  10. ^ "View Chairman". www.dhakainsurancebd.com. Retrieved 29 October 2016.
  11. ^ "Islami Bank Bangladesh Ltd: News & Events". www.islamibankbd.com. Archived from the original on 29 October 2016. Retrieved 29 October 2016.