Midland Bank Limited is a fourth generation private commercial bank in Bangladesh. Nilufer Zafarullah is chairperson of the bank. Md Ahsan-uz Zaman, is the managing director and CEO of Midland Bank Limited.
History
Midland Bank Limited was established on 20 March 2013. It was one of nine 4th generation bank approved all of whom have strong ties with
Awami League In Urdu language, Awami is the adjectival form for '' Awam'', the Urdu language word for common people.
The adjective appears in the following proper names:
*Awami Colony, a neighbourhood of Landhi Town in Karachi, Sindh, Pakistan
*Awami Front, wa ...
, the government party. Bangladesh Bank approved Midland Bank Limited on the condition that the bank would eventually list on the stock market.
Md Ahsan-uz Zaman joined Midland Bank Limited in July 2014 as its chief executive officer and managing director.
In 2018, defaulted loans of Midland Bank Limited rose from 220 million taka to 650 million taka.
In July 2020, Md Ahsan-uz Zaman reappointed Midland Bank Limited's Chief Executive Officer and Managing Director
On 20 June 2021, Bangladesh Bank included Midland Bank Limited in its Interoperable Digital Transaction Platform and Bangladesh Electronic Funds Transfer Network.
In 2020 Midland Bank had 45.06 billion taka in deposits and 37.86 billion in loans.
In September 2021, Nilufer Zafarullah was elected chairman of Midland Bank Limited and Md Shamsuzzaman was elected vice-chairman. It launched Midland Online in an attempt to provide more online services during the COVID-19 pandemic in Bangladesh. The bank made 1.62 billion taka in operating profit in 2021 and an increase from 1.25 billion taka it made in 2020.
Midland Bank distributed loans worth 45 million taka to
Jamdani
Jamdani ( bn, জামদানি) is a fine muslin textile (figured with different patterns) produced for centuries in South Rupshi of Narayanganj district in Bangladesh on the bank of Shitalakhwa river. The historic production of jamdani was ...
weavers in Narayanganj in collaboration with the USHA Foundation.
Bangladesh Securities and Exchange Commission
The Bangladesh Securities and Exchange Commission (BSEC) is the regulator of the capital market of Bangladesh, comprising Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE). The commission is a statutory body and attached to the Mini ...
asked Midland Bank Limited to list on the stock market. In June 2020, the Midland Bank Limited announced plans to list on the Dhaka Stock Exchange through Initial Public Offering and raise 7 billion taka from the capital market. The Dhaka Tribune reported that Anwar Ispat embezzled 500 million taka from the
Gulshan branch of the bank which was denied by the bank.
Board of directors
References
{{Banks in Bangladesh
Banks of Bangladesh
Banks established in 2013
2013 establishments in Bangladesh