Islamabad: In a significant development for Bank Makramah Limited (BML), the Islamabad High Court has sanctioned the Scheme of Arrangement for the bank’s restructuring, as filed under Sections 279 to 283 and 285(8) of the Companies Act, 2017. The court’s order, dated November 19, 2025, comes as a crucial step for the bank to comply with the minimum capital requirement set by the State Bank of Pakistan.
The sanctioned scheme entails several key actions. Firstly, there will be an issuance and allotment of fully paid ordinary shares of BML to the shareholders of Global Haly Development Limited (GHDL). Additionally, the share capital of BML will undergo a reduction through the cancellation of the share capital not represented by available assets. As per the effective date of the scheme, the issued and paid-up share capital of BML will be Rs. 10.00 billion, divided into one billion ordinary shares, each valued at Rs. 10.
According to information available from the Pakistan Stock Exchange (PSX), the necessary book closure to implement the Scheme of Arrangement will be announced after consultations with the exchange. This move is anticipated to stabilize BML’s financial standing and align it with regulatory capital requirements.
In adherence to regulatory compliance, the disclosure of this material information aligns with Sections 96 of the Securities Act, 2015, and Clause 5.6.1(a) of the PSX Rule Book. The restructuring process marks a pivotal moment for BML as it seeks to fortify its capital structure and ensure compliance with financial regulations.