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Business & Finance Print edition: 2024-10-31

Bank Makramah to secure Rs5bn advance from Lootah

Published October 31, 2024 Updated October 31, 2024 06:18am
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KARACHI: Bank Makramah Limited and Abdulla Nasser Abdulla Hussain Lootah have entered into an agreement, subject to the terms of which Abdulla Nasser Abdulla Hussain Lootah will deposit Rs 5 billion in the bank as advance against share capital by December 31, 2024, in the event that compliance of the bank with the regulatory capital requirements as prescribed by the State Bank of Pakistan is not achieved.

This was announced by the bank, through material information sent to Pakistan Stock Exchange here on Wednesday.

Copyright Business Recorder, 2024

SBP PSX Bank Makramah Limited Abdulla Nasser Abdulla Hussain Lootah

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