Mirza Abbas to gift 1.30cr Dhaka Bank shares to his son

Mirza Abbas Uddin Ahmed, a standing committee member of the Bangladesh Nationalist Party (BNP) and a co-founder of Dhaka Bank, has announced his intention to gift 1.30 crore shares of the bank to his son.

The share transfer procedure will be executed outside the trading platform of the stock exchange within the next 30 days, according to a disclosure on the Dhaka Stock Exchange.

According to data from Dhaka Bank, Mirza Abbas holds 6.16% of the private sector lender. 

His son Mirza Yasser Abbas has also held the directorship of the bank since 2012.

As per the annual report for 2022, Mirza Yasser owns 3.49 crore, or 3.68%, of the bank.

Despite multiple attempts, The Business Standard was unable to reach Mirza Abbas by phone. A short message was sent to his phone number via WhatsApp, but no response was received.

One of the founding members of Dhaka Bank, Mirza Abbas, was appointed as an alternate director in 1995 and a full-fledged one in 2012.

An alternate director is a person who is appointed to attend a board meeting on behalf of a director of a company where the principal director is otherwise unable to attend.

On completion of his three-year tenure, the Dhaka Bank board decided to reappoint Abbas to the same post and accordingly sent a recommendation to the Bangladesh Bank in May 2015.

But the central bank refused to approve the reappointment of Mirza Abbas as a director of Dhaka Bank.