In a decisive move signaling transformative change, Summit Bank Limited convened its Extraordinary General Meeting (EOGM) during which shareholders overwhelmingly voted in favor of changing the bank’s name to ‘Bank Makramah Limited’.
This change of identity comes in the wake of the recent acquisition of a controlling stake in Summit Bank by distinguished UAE investor, H.E. Nasser Abdulla Hussain Lootah. The investor’s vision for the institution, shared with his son Mr. Abdulla Lootah, has steered the bank towards this pivotal transformation.
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The transition from Summit Bank Limited to Bank Makramah Limited is poised to embody the institution’s renewed dedication to its core mission, emphasizing its commitment to providing an elevated standard of financial services and pioneering products. The new name also aligns seamlessly with the principles of Shariah-compliant finance.
The EOGM, a landmark event in the bank’s journey, was attended by the esteemed Board of Directors, the senior executive leadership, and distinguished shareholders. This congregation of stakeholders marked a significant step in the institution’s evolution, reflecting a collective alignment with the bank’s renewed purpose.
The decision to embrace the name ‘Bank Makramah Limited’ underscores a forward-looking vision that aspires to create a lasting impact on the financial sector by harmonizing innovation and tradition. With the support of the investors, leadership, and shareholders, the bank is poised to embark on a transformative trajectory that aims to set new standards in banking excellence.
As the institution charts this new path, all eyes are on the unfolding narrative of Bank Makramah Limited, poised to leave a meaningful imprint on Pakistan’s financial landscape.
