Midas Financing Limited (Bangladesh)

The Company is engaged in lease finance, consumer credit scheme, housing loans, capital market operation, term deposit scheme, micro industries development initiative, loan against lien of securities, small medium enterprise development.The Company was incorporated on May 16, 1995, under section (150) of the Companies Act, 1994.
The Company obtained license from Bangladesh Bank vide license no. FID (Q/22 dated 11 th October 1999) under the Financial Institutions Act, 1993 to operate as a non-bank financial institution. It is a subsidiary of (Micro Industries Development Assistance and Services).
Initial Public Offering (IPO) of Shares (Date of Allotment) on August 12, 2002.
The Company was listed on Dhaka Stock Exchange on 26 October 2002 and Chittagong Stock Exchange on July 27, 2004.
The Company s financial statements are made up to 31 December each year and are prepared under historical cost convention and in accordance with (First Schedule) (sec-38) of the Bank Companies Act, 1991, DFIM circular number 11 dated 23 December, 2009, other Bangladesh Bank circulars, Bangladesh Financial Reporting Standards(BFRS), the Companies Act, 1994, the Financial Institutions Act, 1993, Securities and Exchange Rules in 1987 and other prevailing laws and rules applicable in Bangladesh.