MIDAS Financing Limited is a major non-bank financial institution in Bangladesh.
History
MIDAS (Micro Industries Development Assistance and Services) Financing Limited was established on 16 May 1995.
It provided financial support to small women entrepreneurs to establish minimart.
On 11 October 1999, Midas secured permission from Bangladesh Bank.
MIDAS Financing Limited listed on Dhaka Stock Exchange and Chittagong Stock Exchange on 26 October 2002 and 27 July 2004 respectively.
From 23 March 2005, it shares used the
Central Depository Bangladesh Limited.
Small and Medium Enterprise Foundation gave a loan of 50 million taka to MIDAS Financing Limited on 18 May 2012 to provide loans to small and medium enterprises.
MIDAS board member
Mirza Ali Behrouze Ispahani died in 2017. MIDAS Financing Limited launched MIDAS Investment Limited in January 2017 as a merchant bank.
Parveen Mahmud, chairperson of MIDAS Financing Limited and
Underprivileged Children's Educational Programme
Underprivileged Children's Educational Programme () is a Bangladeshi non-profit organization based in Dhaka that works with children. It provides vocational training in Bangladesh. Parveen Mahmud, chairman of MIDAS Financing Limited, is the chai ...
, was made a trustee of
Transparency International Bangladesh
Transparency International Bangladesh (TIB) is the Bangladeshi branch of the Berlin-based Transparency International, a civil society organisation dedicated to fighting against corruption.
History
TIB started its activities in 1997, under found ...
in 2018.
On 3 April 2019, Mohammed Nasir Uddin Chowdhury was elected chairman of the board of directors of MIDAS Financing Limited. Mustafizur Rahman was appointed Managing Director. ERA InfoTech signed an agreement with MIDAS to provide IT services to the company. It provided 2.5 percent dividend in 2019. It held a fair for products of small and medium enterprises at the MIDAS Convention Centre in Dhanmondi.
In 2020, MIDAS Financing Limited sponsored campus club summit in partnership with
The Daily Star.
It declared a 2.5 percent cash and stock dividend.
Midas Financing Limited repointed Mustafizur Rahman Managing Director in 2022. The Business Standard wrote how none bank financials institutions, such as MIDAS, were charging high interest rates on their loans as they were offering high interest rate to depositors.
Board of directors
Source:
*
Rokia Afzal Rahman
* Abdul Karim
*
Ali Imam Majumder
Ali Imam Majumder is an advisor to the Interim government of Bangladesh. He is a former Bangladeshi government official who served as the cabinet secretary. He is the secretary general of Transparency International Bangladesh and an executive com ...
*
M. Hafizuddin Khan
* Mohammed Nasir Uddin Chowdhury
* Md. Shamsul Alam
* Md. Shahedul Alam
*
Gulam Rahman
*
Nazneen Sultana
* Mustafizur Rahman
Subsidiaries
* MIDAS Investment Limited
References
Organisations based in Dhaka
Bangladeshi companies established in 1995
Financial services companies of Bangladesh
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