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Midland Bank PLC has launched two new mutual funds — the Midland Bank Growth Fund and the Midland Bank Balanced Fund — each with an initial size of Tk25 crore. The bank will contribute 10 percent of the fund size as sponsor.

The Bangladesh Securities and Exchange Commission (BSEC) has already approved the draft Trust Deed for the funds. A signing ceremony was held on 3 September at Midland Bank’s head office in Gulshan, where Sandhani Life Insurance Company Limited was appointed as Trustee.

Midland Bank Asset Management Company will manage the funds, while Commercial Bank of Ceylon Bangladesh PLC will act as Custodian.

“These funds will provide professionally managed investment opportunities, aiming for long-term growth and balanced returns,” said Md. Ahsan-uz Zaman, Managing Director and CEO of Midland Bank. “We believe this initiative will also strengthen the depth and stability of Bangladesh’s capital market.”