Bank Makramah Secures Court Approval for Restructuring Scheme

Bank Makramah Limited (BML) announced on Wednesday that the Islamabad High Court has approved its restructuring plan with Global Haly Development Limited (GHDL), a move that will bring the bank into compliance with the State Bank of Pakistan’s minimum capital requirements. In a material disclosure submitted to the Pakistan Stock Exchange, the bank said the court has sanctioned the Scheme of Arrangement filed under Sections 279 to 283 and 285(8) of the Companies Act, 2017. The approval clears the way for a comprehensive recapitalization and restructuring of BML. Following the court’s approval, several key changes will take effect: The bank said it will announce book closure dates in due course, in consultation with the Pakistan Stock Exchange, to effect the changes stipulated in the restructuring scheme. The Islamabad High Court’s written order has been uploaded to its official website for public access. Bank Makramah said the restructuring will ensure full compliance with regulatory capital requirements. The scheme reworks BML’s capital structure and injects fresh equity through allotment to GHDL shareholders, a move that should satisfy the central bank’s capital rules and reshape the bank’s shareholder base. Further details on timing and the ownership split will become clear when BML announces the book-closure and related filings with the exchange.