Islamabad, July 3, 2025: Bank Makramah Limited has made a major financial and real estate move, signaling strong investor confidence and strategic expansion. The Board of Directors has officially authorized the President/CEO to execute an agreement with His Excellency Nasser Abdulla Hussain Lootah for a substantial PKR 5 billion deposit.
The amount will be maintained in a foreign currency account as “Advance Against Share Subscription” until regulatory approvals are secured for share issuance through other-than-rights offering.
This injection follows the earlier PKR 10 billion investment made by the Sponsor in 2023 and is part of an ongoing financial commitment reaffirmed under the Investment Agreement dated October 30, 2024.
In a parallel move, the Board also approved a confirmed offer of PKR 12 billion for the sale of the prestigious Cullinan Tower (formerly Summit Tower), located at Plot No. G-2, Block-2, Scheme-5, Clifton, Karachi. The offer was made by M/s Sumya Builders & Developers, and management has been empowered to finalize the Sale Purchase Agreement based on Board-approved terms.
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These developments reflect Bank Makramah’s strong financial backing and strategic asset restructuring, paving the way for future growth and market confidence.
