Midland Bank Limited

Midland Bank Limited is a fourth generation private commercial bank in Bangladesh.[3] Nilufer Zafarullah is chairperson of the bank.[4] Md Ahsan-uz Zaman, is the managing director and CEO of Midland Bank Limited.[5]

Midland Bank Limited
TypePrivate
IndustryBanking
Founded2013
HeadquartersDhaka, Bangladesh
Area served
Bangladesh
Key people
[1][2]
ServicesBanking
Financial services
Websitewww.midlandbankbd.net

History

Midland Bank Limited was established on 20 March 2013.[6] It was one of nine 4th generation bank approved all of whom have strong ties with Awami League, the government party.[7] Bangladesh Bank approved Midland Bank Limited on the condition that the bank would eventually list on the stock market.[8]

Md Ahsan-uz Zaman joined Midland Bank Limited in July 2014 as its chief executive officer and managing director.[9]

In 2018, defaulted loans of Midland Bank Limited rose from 220 million taka to 650 million taka.[10]

In July 2020, Md Ahsan-uz Zaman reappointed Midland Bank Limited's Chief Executive Officer and Managing Director[9] On 20 June 2021, Bangladesh Bank included Midland Bank Limited in its Interoperable Digital Transaction Platform and Bangladesh Electronic Funds Transfer Network.[11] In 2020 Midland Bank had 45.06 billion taka in deposits and 37.86 billion in loans.[11] In September 2021, Nilufer Zafarullah was elected chairman of Midland Bank Limited and Md Shamsuzzaman was elected vice-chairman.[12] It launched Midland Online in an attempt to provide more online services during the COVID-19 pandemic in Bangladesh.[13] The bank made 1.62 billion taka in operating profit in 2021 and an increase from 1.25 billion taka it made in 2020.[14]

Midland Bank distributed loans worth 45 million taka to Jamdani weavers in Narayanganj in collaboration with the USHA Foundation.[15][16]

Bangladesh Securities and Exchange Commission asked Midland Bank Limited to list on the stock market.[17] 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.[18] The Dhaka Tribune reported that Anwar Ispat embezzled 500 million taka from the Gulshan branch of the bank which was denied by the bank.[19][20]

Board of directors
Sl # Name Designation Reference
1 Nilufer Zafarullah Chairperson [21]
2 Md. Shamsuzzaman Director [21]
3 Abul Kashem Director [21]
4 Kazi Omar Zafar Director [21]
5 Ahsan Khan Chowdhury Director [21]
6 Rezaul Karim Director [21]
7 Mostafizur Rahman Director [21]
8 Anushka Mehreen Zafar Director [21]
9 Md. Wahid Miah Director [21]
10 Mahbubul Hady Fazle Rab Independent Director [21]
11 Nazimuddin Chowdhury Independent Director [21]
12 Khandhaker Thanveer Shamsul Islam Independent Director [21]
13 Md. Ahsan-uz Zaman CEO and Managing Director [21]

References
  1. "Message from Chairman – Midland Bank Ltd". midlandbankbd.net. Retrieved 24 June 2022.
  2. "Message from MD & CEO – Midland Bank Ltd". midlandbankbd.net. Retrieved 24 June 2022.
  3. "Midland Bank opens branch in Sylhet". Dhaka Tribune. 21 January 2018. Retrieved 24 June 2022.
  4. "Midland Bank approves 5% cash dividend for 2021". The Business Standard. 19 June 2022. Retrieved 24 June 2022.
  5. "Midland Bank signs MoU with ACE Advisory". The Financial Express. Retrieved 24 June 2022.
  6. "MDB Profile – Midland Bank Ltd". midlandbankbd.net. Retrieved 24 June 2022.
  7. "Does Bangladesh need more banks?". Dhaka Tribune. 1 November 2017. Retrieved 24 June 2022.
  8. "Midland Bank to raise Tk 70 crore thru IPO". New Age. Retrieved 24 June 2022.
  9. "Md Ahsan-uz Zaman reappointed as Midland Bank managing director". The Daily Star. 26 July 2020. Retrieved 24 June 2022.
  10. "Nine fourth generation banks continue to bleed". Dhaka Tribune. 1 November 2018. Retrieved 24 June 2022.
  11. Hasan, Mahmudul (20 June 2021). "Midland Bank riding on digital tech for steady growth". The Daily Star. Retrieved 24 June 2022.
  12. "Midland Bank re-elects chair, elects vice chair". The Daily Star. 25 September 2020. Retrieved 24 June 2022.
  13. "Midland Bank launches self-registration for its Internet Banking Application". The Financial Express. Retrieved 24 June 2022.
  14. "Some of Bangladeshi private banks make better operating profit". The Financial Express. Retrieved 24 June 2022.
  15. "Midland Bank, USHA Foundation disburses loans to Narayanganj's Jamdani cluster". The Daily Star. 13 June 2022. Retrieved 24 June 2022.
  16. "Midland Bank distributes CMSME Stimulus Loan in Narayanganj's Jamdani Cluster". The Business Standard. 8 June 2022. Retrieved 24 June 2022.
  17. "BSEC asks 5 more banks to go public". Dhaka Tribune. 20 February 2022. Retrieved 24 June 2022.
  18. "Midland Bank to go public". The Financial Express. Retrieved 24 June 2022.
  19. "Midland Bank issues rejoinder". Dhaka Tribune. 1 April 2021. Retrieved 24 June 2022.
  20. "Anwar Ispat swindles Tk 50cr out of Midland Bank". Priyo.com. Retrieved 24 June 2022.
  21. "Board of Directors – Midland Bank Ltd". Retrieved 24 October 2022.
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