Dhaka, Sept. 4 -- Bangladesh Securities and Exchange Commission has approved the draft Trust Deed of two new mutual funds to be sponsored by Midland Bank PLC: Midland Bank Growth Fund and Midland Bank Balanced Fund. Each fund has an initial size of Tk. 25 crore, with Midland Bank PLC contributing 10 per cent as the sponsor.

A Trust Deed signing ceremony was held on Wednesday at the bank's head office in the company, to formalise the agreement with the Trustee, Sandhani Life Insurance Company Limited, says a press release. Md. Ahsan-uz Zaman, Managing Director & CEO of Midland Bank PLC., and Md. Mizanur Rahman, Company Secretary of Sandhani Life Insurance, executed the Trust Deeds. Senior officials from both organisations were present.

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