An interesting milestone recently occurred when the State Bank of Pakistan granted Summit Bank Limited permission to change its name to Bank Makramah Limited (abbreviated as BML), pending additional corporate and regulatory approvals. After acquiring a majority ownership position in the bank, well-known UAE investor H.E. Nasser Abdulla Hussain Lootah made this strategic choice.
The goal of Bank Makramah Limited (BML), according to H.E. Nasser Abdulla Hussain Lootah, is to become a preeminent Islamic bank that provides outstanding financial services and cutting-edge products in compliance with Islamic principles. The bank has changed its name to Bank Makramah Limited (BML), which represents the bank’s everlasting dedication to embracing Islamic financial principles and offering morally sound financial solutions to its esteemed clients.
Bank Makramah Limited (BML) is currently developing a comprehensive plan to realize its goal of becoming a comprehensive Islamic bank. Its operations will undergo a thorough makeover, Shariah-compliant financial solutions will be implemented, and Islamic banking principles will be followed. Bank Makramah Limited (BML) is committed to its clients throughout this period of transformation, guaranteeing a smooth transition as it develops into a full-fledged Islamic bank.
Bank Makramah Limited (BML) will continue to keep its stakeholders informed of the progress being made in its effort to become a fully Shariah-compliant institution. The possibility of providing the community with cutting-edge Islamic banking solutions and morally sound financial services excites the bank.
