Syed Manzur Elahi’s MTB shares to be divided between his two children

Shares of Mutual Trust Bank held by one of its sponsors, the late Syed Manzur Elahi, will be equally distributed between his two children, according to a disclosure published on the Dhaka Stock Exchange (DSE) website.

Out of his total holding of 34,329,953 shares, a total of 31,266,321 will be transmitted to the accounts of his two nominees: Syed Nasim Manzur, a placement holder of the company, and Munize Manzur, a sponsor and former director of the bank.

Each nominee will receive 50 per cent of the transmitted shares.

Mr Syed Manzur Elahi, who was also the chairman and founding chairman of the bank, passed away on 12 March at the age of 80.