Bank Makramah approves Nasser Lootah $36mn investment
Bank Makramah Limited’s (BML) board has approved a proposal by the bank’s sponsor, Nasser Abdulla Hussain Lootah, to inject a further Rs10 billion, i.e. over $36 million, into the bank, strengthening its capital base as it seeks to meet regulatory requirements and support its operations. The listed bank disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Tuesday. “Bank…
The board of Bank Makramah Limited has approved an investment of Rs10 billion, or over $36 million, from its sponsor, Nasser Abdulla Hussain Lootah. This move comes as the bank seeks to meet regulatory requirements and bolster its capital base for smooth operations. The decision was made during the bank's 159th meeting on August 18, 2026, and was announced in a notice to the Pakistan Stock Exchange.
The investment will be recorded as an advance against share subscription until regulatory and corporate approvals are obtained for the issuance of shares to the sponsor. Lootah acquired a controlling stake in the bank in April 2023, aiming to transform it into a full-fledged Islamic bank.
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