The college was established as the Ummah Medical College in 1994-95 in Mirpur, Dhaka. It later shifted its premises to this site in 1998 under the current name Shaheed Monsur Ali Medical College and Hospital. It was renamed in 2002 as the Moulana Bhasani Medical College under the Moulana Bhasani Trust. In October 2007, the college shifted to its own building, which was inaugurated by the ex-chairman of the Moulana Bhasani Trust. In February 2009, Dr. Jamal Uddin Chowdhury was elected as chairman of the Moulana Bhasani Trust, later Mrs.Laila Arjumand was elected as Chairman of Moulana Bhasani Trust and Dr. Jamal Uddin Chowdhury was elected as Chairman of Shaheed Monsur Ali Medical College. The institution was renamed to its current name of Shaheed Monsur Ali Medical College on April 3, 2010, in the presence of the Chairman of the Moulana Bhasani Trust Mrs.Laila Arjumand.
The college conglomerate offers medical education, medical research, health care services and nursing education to contribute to the growing need of the country. This Medical College Hospital is situated at sector no. 11, of Uttara. The Turag River flows beside the campus of the college.
The academic building of the college is built on its own land having spacious classrooms, lecture galleries, practical classrooms, departmental museums, a library, reading rooms etc. It also accommodates a cafeteria and separate common rooms for male and female students having facilities for indoor games. There are separate hostels for boys and girls. Students have facilities for outdoor games also.
The college was approved by the government of Bangladesh. It is affiliated with Dhaka University, and enjoys the recognition of the Bangladesh Medical and Dental Council (BMDC) as well as the World Health Organization (WHO). The College also has the recognition of postgraduate training in various subjects in the college hospital by the Bangladesh College of Physicians and Surgeons (BCPS).
The College has admitted 17 batches of students since its inception. 12 batches of students have completed their MBBS course. The hospital is situated just besides the college building. It is a 500-bedded hospital with all modern amenities offering emergency, outdoor and indoor services round the clock.