Bank Makramah Limited
PPSX:BML57.87
PKR
-0.75
(-1.28%)
Bank Makramah Limited
PSX:BML
(Pakistan Stock Exchange)
Recent
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57.87
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- Business
- Bank Makramah Limited is a Pakistan-based financial institution engaged in the provision of commercial, retail, corporate, and Islamic banking services to individual consumers, small and medium-sized enterprises, corporate clients, and financial institutions. The bank operates through key business segments, including Retail Banking, Corporate and Commercial Banking, Islamic Banking, and Treasury and Capital Markets. Its comprehensive portfolio of products and services comprises deposit mobilization solutions, including current accounts, savings accounts, and fixed-term deposit receipts; consumer credit facilities, including auto loans, home mortgages, and personal financing; corporate and commercial lending, consisting of working capital finance, term loans, project finance, and syndicated loan arrangements; trade finance and transaction services, offering documentary letters of credit, bank guarantees, export and import bill discounting, collections, and cash management solutions; Shariah-compliant Islamic banking products, structured under Murabaha, Ijarah, Diminishing Musharakah, Salam, and Istisna mechanisms; and treasury operations, encompassing foreign exchange trading, interbank money market transactions, liquidity management, and investments in government securities, treasury bills, Pakistan Investment Bonds, and sovereign Sukuk instruments. Additionally, the bank provides digital financial solutions, including debit and payment cards, automated teller machine networks, mobile banking, online banking, utility payment processing, and electronic funds transfer services. Founded in 2005 and headquartered in Karachi, Pakistan, the company conducts its operations across a nationwide network of branches located throughout the country. In recent major developments, the institution underwent a significant capital recapitalization and ownership restructuring following the acquisition of a controlling equity stake by UAE-based investor Nasser Abdulla Hussain Lootah. Pursuant to this strategic realignment, the institution officially changed its name from Summit Bank Limited to Bank Makramah Limited and initiated a comprehensive operational transition to convert into a full-fledged Islamic commercial bank, while actively modernizing its core technological infrastructure and expanding its Shariah-compliant asset and liability portfolios.