Midas Financing Limited (MFL) Bangladesh was founded in 1995 and obtained license in 1999 from Bangladesh Bank to carry out Leasing Finance Activity. It started its operation from 1st January 2000 and listed on Dhaka Stock Exchange in October 2002. Its objective is to provide variety of financial services to its valued customers by emphasizing strictly on ethical practices. Its vision is to be a leading financial institution in Bangladesh and help the country by developing an entrepreneurial society. It has always focused on continuous development and adding value to its business and hence today has emerged as “Real Friend” of Entrepreneurs.
For its distinguished position in the industry it has laid down several policy for itself like giving better packages to employees who are at the backbone of company, paying good returns in form of dividends and reporting proper disclosures to shareholders, paying taxes regularly to the Government, and practicing good governance by regularly organizing AGM’s. It has never engaged itself in releasing stock price sensitive information.
MFL has wide range of product services to cater its clients. It has financing options available for individuals who want to avail housing loans for their dream home purchase. Its information like interest rate and processing fees can be avail from any of the MFL branches. It gives lease finance for industrial requirements like purchasing capital machinery with lease period of 2-5 years and 1% of processing fees. It provides lease finance up to TK. 25 Lacs without any collateral security and relatively lesser processing time. It gives special incentives and offers special window for Woman Entrepreneurs. This loan is meant for Heavy Construction Equipment, Generator, Vehicles, Agricultural Equipment, etc.
Midas Financing Limited Bangladesh has MIDI (Micro Enterprise Development Initiative) Program where it finances industries for project loan and working capital loan for existing units. Rate of interest for this program is 18.75% and can be avail for maximum 4 years period. Loan up to TK. 7.5 Lacs is Tax Free in this program. This program has special rate of interest for woman and also gives special incentive for timely repayment. It also has SED (Small Enterprise Development) Program where it provides long term project and working capital finance for industries. Here it gives 5% interest rebate for those who pay loan on time. Such program has helped the company to build healthy portfolio by having quality customers.
Deposit Schemes of Midas Finance Limited:
MFL has various deposit schemes for its investors. It gives them options of Term Deposits with return on investment in the range of 12-12.5%, Monthly Deposit Scheme (TK. 1000 invested monthly will be TK 2,37,950), Monthly/Quarterly Income Deposit Scheme, Double Money Deposit (Double the Amount in sixty eight months) and Triple Money Deposit Scheme (Triple the Investment in Nine and Half Years) for long term investors. Due to transparent management, ethical practices in business, and competitive interest rates it has been able to attract large amount of deposits. It publishes its interest rate on its website from time to time. Besides, money is invested in secured investment to keep the customers investment safe. Customer can get the money back with hassle free process during emergency which is the additional advantage to investment in Midas Finance.
Objective & Financial Information of Midas Finance:
MFL in its objective to serve the customer better and to reach where the customer is, it has built a network of over 15 branches throughout Bangladesh. Its head office is in Dhaka from where management runs the entire show. With efficient management and motivated employees its performance has grown year on year. Its lending has grown from Tk. 5676 Million in 2011 to Tk. 6205 Million in 2012. Deposits have grown from Tk. 1229 Million to TK. 1878 Million.
Today company is in experienced hands of finance professionals who have great vision for the growth of the company. Company employees are its real strength and has played major role in success of company. Company has today built a large group of satisfied investors and customers. With all these crowns in their head, the company wants to be a leading player in financial arena of Bangladesh.
Midas Finance Limited was enlisted in Dhaka Stock Exchange on 2002, it’s been rated as “A” category share under the financial sector as on 04-11-2012
Contact Information of Midas Finance Limited:
Address: “MIDAS Centre”, House # 05, (Floor # 10 & 11),
Road # 16 (New), Dhanmondi, Dhaka-1209, Bangladesh
Contact Phone: 8116094 – 5, 8116186-7
Fax: 88 – 02 – 8113108