Mirza Abbas’s son gifts mother shares worth Tk 36 crore

Mirza Yasir Abbas, the son of BNP standing committee member Mirza Abbas, has decided to gift shares worth about Tk 36 crore to his wife Afroza Abbas. She will be gifted shares of Dhaka Bank PLC listed on the capital market.

Dhaka Bank authorities announced this information through the Dhaka Stock Exchange (DSE) on Sunday (October 5).

An announcement made on the country's main stock market, Dhaka Stock Exchange (DSE), said that Mirza Yasir Abbas, the current director of Dhaka Bank listed on the stock market, will gift 31.13 million shares of the bank to his mother Afroza Abbas.

According to the information, these shares will be given as a gift outside the trading system of the stock exchange.

The announcement published on the DSE also said that Afroza Abbas herself is an entrepreneur of Dhaka Bank. However, she is not on the current board of directors.

According to the rules of the stock market regulator Bangladesh Securities and Exchange Commission (BSEC), to become a director of a listed company, it is mandatory for the director to hold at least two percent of the company's shares.

The amount of shares that Mirza Yasir Abbas, the current director of Dhaka Bank, is gifting to his mother is about 3 percent of the bank's total shares. As a result, Afroza Abbas will be able to become a director of the bank in the future with these gifted shares.

Bank-related sources said that the son is gifting these shares to his mother to make her the director of the bank.