Private investor to provide Bank Makramah Rs5 billion to strengthen capital base
Bank Makramah Limited (BML) has
entered into an agreement with investor Mr. Abdulla Nasser Abdulla Hussain
Lootah, who will provide PKR 5 billion as an advance against share capital.
This investment is aimed at helping
BML meet the State Bank of Pakistan's capital requirements by the deadline of
December 31, 2024, should the bank need additional capital to ensure
compliance.
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In a notice issued to the Pakistan
Stock Exchange (PSX) on Wednesday, BML confirmed the arrangement, fulfilling
its legal obligation to keep investors and stakeholders updated on actions
taken to bolster its capital structure.
This move underscores the bank’s
dedication to financial stability and adherence to regulatory standards.
Source: Profit Pakistan