{{Short description|Financial institution in Bangladesh}} {{Infobox organization | name = MIDAS Financing Limited | formation = 1995 | image = | image_alt = MFL | caption = | map = | abbreviation = | type = | status = | purpose = | headquarters = Dhaka, Bangladesh | coordinates = <!-- Coordinates of location using a coordinates template --> | num_members = | language = Bengali | leader_title = | leader_name = | main_organ = | parent_organization = | affiliations = | budget = | website = {{URL|https://www.mfl.com.bd/}} | remarks = | image_border = | image_size = | map_size = | map_alt = | map_caption = | extinction = | location = | region_served = Bangladesh | num_staff = | num_volunteers = }}
'''MIDAS Financing Limited''' is a major non-bank financial institution in Bangladesh.<ref>{{Cite news |title=Mustafizur re-appointed as MIDAS Financing MD |url=https://www.newagebd.net/article/174096/mustafizur-re-appointed-as-midas-financing-md |access-date=2022-07-07 |work=New Age |language=en}}</ref><ref>{{Cite news |date=2022-04-18 |title=What's causing a rapid rise in non performing loans? |url=https://www.dhakatribune.com/business/2022/04/18/whats-causing-a-rapid-rise-in-non-performing-loans |access-date=2022-07-07 |work=Dhaka Tribune |language=en}}</ref>
== History == MIDAS (Micro Industries Development Assistance and Services) Financing Limited was established on 16 May 1995.<ref name=":0">{{cite web |title=About MFL |url=https://www.mfl.com.bd/index.php/home/about_mfl |access-date=7 July 2022 |website=mfl.com.bd |publisher=MIDAS Financing Limited}}</ref><ref name="Staff Correspondent">{{Cite news |date=2018-06-08 |title=Parveen Mahmud becomes TIB trustee |url=https://www.thedailystar.net/city/parveen-mahmud-becomes-tib-trustee-1588048 |access-date=2022-07-07 |work=The Daily Star |language=en}}</ref> It provided financial support to small women entrepreneurs to establish minimart.<ref>{{Cite news |last=Rahman |first=Md Fazlur |date=2011-03-31 |title=Women entrepreneurs set success in motion |url=https://www.thedailystar.net/news-detail-179780 |access-date=2022-07-07 |work=The Daily Star |language=en}}</ref>
On 11 October 1999, Midas secured permission from Bangladesh Bank.<ref name=":0" />
MIDAS Financing Limited listed on Dhaka Stock Exchange and Chittagong Stock Exchange on 26 October 2002 and 27 July 2004 respectively.<ref name=":0" /> From 23 March 2005, it shares used the Central Depository Bangladesh Limited.<ref name=":0" />
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.<ref>{{Cite news |date=2012-05-18 |title=SME Foundation, Midas Financing sign Tk 5cr deal |url=https://www.thedailystar.net/news-detail-234673 |access-date=2022-07-07 |work=The Daily Star |language=en}}</ref>
MIDAS board member Mirza Ali Behrouze Ispahani died in 2017.<ref>{{Cite news |date=2017-01-24 |title=Ispahani Group chairperson passes away |url=https://www.thedailystar.net/frontpage/ispahani-group-chairperson-passes-away-1349908 |access-date=2022-07-07 |work=The Daily Star |language=en}}</ref> MIDAS Financing Limited launched MIDAS Investment Limited in January 2017 as a merchant bank.<ref>{{Cite news |date=2017-01-23 |title=MIDAS Investment sets foot to boost stockmarket |url=https://www.thedailystar.net/business/midas-investment-sets-foot-boost-stockmarket-1349323 |access-date=2022-07-07 |work=The Daily Star |language=en}}</ref>
Parveen Mahmud, chairperson of MIDAS Financing Limited and Underprivileged Children's Educational Programme, was made a trustee of Transparency International Bangladesh in 2018.<ref name="Staff Correspondent"/>
On 3 April 2019, Mohammed Nasir Uddin Chowdhury was elected chairman of the board of directors of MIDAS Financing Limited.<ref>{{Cite news |date=2019-04-03 |title=MIDAS Financing gets new chairman, MD |url=https://www.thedailystar.net/business/news/midas-financing-gets-new-chairman-md-1724182 |access-date=2022-07-07 |work=The Daily Star |language=en}}</ref> Mustafizur Rahman was appointed Managing Director.<ref>{{Cite news |title=Mustafizur joins as MIDAS Financing MD |url=https://www.newagebd.net/article/71828/mustafizur-joins-as-midas-financing-md |access-date=2022-07-07 |work=New Age |language=en}}</ref> ERA InfoTech signed an agreement with MIDAS to provide IT services to the company.<ref>{{Cite news |date=2019-02-28 |title=ERA InfoTech to provide Software Solutions to MIDAS Financing |url=https://www.thedailystar.net/bytes/tech-happening/news/era-infotech-provide-software-solutions-midas-financing-1708528 |access-date=2022-07-07 |work=The Daily Star |language=en}}</ref> It provided 2.5 percent dividend in 2019.<ref>{{Cite news |date=2019-07-26 |title=MIDAS approves 2.5pc stock dividend for 2018 |url=https://www.thedailystar.net/business/news/midas-approves-25pc-stock-dividend-2018-1777183 |access-date=2022-07-07 |work=The Daily Star |language=en}}</ref> It held a fair for products of small and medium enterprises at the MIDAS Convention Centre in Dhanmondi.<ref>{{Cite news |date=2019-03-23 |title=MIDAS holding SME Product Fair in Dhaka |url=https://www.thedailystar.net/city/news/midas-holding-sme-product-fair-dhaka-1718977 |access-date=2022-07-07 |work=The Daily Star |language=en}}</ref>
In 2020, MIDAS Financing Limited sponsored campus club summit in partnership with The Daily Star.<ref name="Tahsin">{{Cite news |last=Tahsin |first=Sadia |date=2020-11-07 |title=Mahfuz Anam on the importance of extracurricular activities |url=https://www.thedailystar.net/star-youth/news/mahfuz-anam-the-importance-extracurricular-activities-1990961 |access-date=2022-07-07 |work=The Daily Star |language=en}}</ref> It declared a 2.5 percent cash and stock dividend.
Midas Financing Limited repointed Mustafizur Rahman Managing Director in 2022.<ref>{{Cite news |date=2022-06-22 |title=Mustafizur Rahman re-appointed as managing director of Midas Financing Limited |url=https://www.tbsnews.net/economy/corporates/mustafizur-rahman-re-appointed-managing-director-midas-financing-limited-444734 |access-date=2022-07-07 |work=The Business Standard |language=en}}</ref> 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.<ref>{{Cite news |date=2022-05-01 |title=How NBFIs charging extra interest on loans flouting agreements |url=https://www.tbsnews.net/economy/how-nbfis-charging-extra-interest-loans-flouting-agreements-412526 |access-date=2022-07-07 |work=The Business Standard |language=en}}</ref>
== Board of directors == Source:<ref>{{Cite web |title=MIDAS Financing Limited |url=https://www.mfl.com.bd/index.php/home/bod |access-date=2022-07-07 |website=www.mfl.com.bd}}</ref> * Rokia Afzal Rahman * Abdul Karim * Ali Imam Majumder * M. Hafizuddin Khan * Mohammed Nasir Uddin Chowdhury * Md. Shamsul Alam * Md. Shahedul Alam * Gulam Rahman * Nazneen Sultana * Mustafizur Rahman
== Subsidiaries == * MIDAS Investment Limited<ref name=":0" />
== References == {{reflist}}
Category:Organisations based in Dhaka Category:Bangladeshi companies established in 1995 Category:Financial services companies of Bangladesh
{{Bangladesh-company-stub}}