Misplaced Pages

MIDAS Financing Limited

Article snapshot taken from[REDACTED] with creative commons attribution-sharealike license. Give it a read and then ask your questions in the chat. We can research this topic together.
(Redirected from Micro Industries Development Assistance and Services) Financial institution in Bangladesh
MIDAS Financing Limited
Formation1995
HeadquartersDhaka, Bangladesh
Region served Bangladesh
Official language Bengali
Websitewww.mfl.com.bd

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, was made a trustee of Transparency International Bangladesh 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:

Subsidiaries

  • MIDAS Investment Limited

References

  1. "Mustafizur re-appointed as MIDAS Financing MD". New Age. Retrieved 2022-07-07.
  2. "What's causing a rapid rise in non performing loans?". Dhaka Tribune. 2022-04-18. Retrieved 2022-07-07.
  3. ^ "About MFL". mfl.com.bd. MIDAS Financing Limited. Retrieved 7 July 2022.
  4. ^ "Parveen Mahmud becomes TIB trustee". The Daily Star. 2018-06-08. Retrieved 2022-07-07.
  5. Rahman, Md Fazlur (2011-03-31). "Women entrepreneurs set success in motion". The Daily Star. Retrieved 2022-07-07.
  6. "SME Foundation, Midas Financing sign Tk 5cr deal". The Daily Star. 2012-05-18. Retrieved 2022-07-07.
  7. "Ispahani Group chairperson passes away". The Daily Star. 2017-01-24. Retrieved 2022-07-07.
  8. "MIDAS Investment sets foot to boost stockmarket". The Daily Star. 2017-01-23. Retrieved 2022-07-07.
  9. "MIDAS Financing gets new chairman, MD". The Daily Star. 2019-04-03. Retrieved 2022-07-07.
  10. "Mustafizur joins as MIDAS Financing MD". New Age. Retrieved 2022-07-07.
  11. "ERA InfoTech to provide Software Solutions to MIDAS Financing". The Daily Star. 2019-02-28. Retrieved 2022-07-07.
  12. "MIDAS approves 2.5pc stock dividend for 2018". The Daily Star. 2019-07-26. Retrieved 2022-07-07.
  13. "MIDAS holding SME Product Fair in Dhaka". The Daily Star. 2019-03-23. Retrieved 2022-07-07.
  14. Tahsin, Sadia (2020-11-07). "Mahfuz Anam on the importance of extracurricular activities". The Daily Star. Retrieved 2022-07-07.
  15. "Mustafizur Rahman re-appointed as managing director of Midas Financing Limited". The Business Standard. 2022-06-22. Retrieved 2022-07-07.
  16. "How NBFIs charging extra interest on loans flouting agreements". The Business Standard. 2022-05-01. Retrieved 2022-07-07.
  17. "MIDAS Financing Limited". www.mfl.com.bd. Retrieved 2022-07-07.


Stub icon

This article about a Bangladeshi organisation is a stub. You can help Misplaced Pages by expanding it.

Categories:
MIDAS Financing Limited Add topic