Bank Makramah secures Rs5bn advance from Abdulla Nasser

By MG News | Category Equity | October 30, 2024 at 04:49 PM GMT+05:00

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October 30, 2024 (MLN): Bank Makramah Limited (PSX: BML) and Abdulla Nasser Abdulla Hussain Lootah have entered into an agreement whereby Abdulla will deposit Rs5 billion in the bank as an advance against share capital by December 31, 2024.

This arrangement will be in effect if the bank does not meet the regulatory capital requirements set by the State Bank of Pakistan.

The agreement was signed on October 30, 2024, according to the bank's filing with the PSX today.

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