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Midland Bank Limited has undergone name change and will now be known as 'Midland Bank PLC.'
The decision was earlier adopted in the first Extraordinary General Meeting (EGM) of the bank held on October 29, 2023, where shareholders approved the new name, according to a media release.
The Companies Act was amended in 2020, wherein a new section, 11(a) was included, which outlines the identification requirements for limited liability companies.
Under this section, public limited companies are to include "PLC." as abbreviated form of "public limited company" at the end of their name.
Subsequently, Bangladesh Bank accorded its final approval for changing the name of the bank from Midland Bank Limited to Midland Bank PLC, effective from March 31, 2024.