Bank Makramah Limited (BML) has announced a proposed additional equity investment of Rs10 billion from its Sponsor, H.E. Nasser Abdulla Hussain Lootah, reinforcing his continued support for the bank’s transformation and long-term growth.
The bank’s Board of Directors has approved the proposal, which will be made as an advance against equity and remains subject to the required regulatory and corporate approvals.
Sponsor’s Total Investment to Reach Rs51 Billion
The proposed Rs10 billion injection will be funded entirely by H.E. Nasser Abdulla Hussain Lootah, with no new investors involved.
Once completed, his aggregate equity investment and capital contribution in Bank Makramah will reach Rs51 billion. The latest commitment represents another major step in the Sponsor’s continued efforts to strengthen the bank’s financial position.
Continued Support for Bank’s Turnaround
The additional investment reflects the Sponsor’s confidence in BML’s management, turnaround strategy and long-term potential.
The bank said the stronger capital foundation will allow management to remain focused on accelerating its transformation, strengthening operations and pursuing sustainable growth.
The latest commitment also reinforces the Sponsor’s role in the bank’s ongoing recapitalisation and financial strengthening.
Investment Journey Began in 2023
H.E. Nasser Abdulla Hussain Lootah’s involvement with the bank began with an initial Rs10 billion capital injection, which supported the acquisition of a majority stake in April 2023.
This was followed by another Rs5 billion investment, currently held as an advance against equity.
A subsequent merger with Global Haly Development Limited contributed Rs26.467 billion to the bank’s capital base, along with the integration of the Creekside Property.
The proposed Rs10 billion investment would further increase the Sponsor’s aggregate contribution to Rs51 billion.
Bank Makramah Targets Sustainable Growth
The fresh capital commitment comes as Bank Makramah continues its transformation as an Islamic banking institution.
The additional financial support is expected to provide greater strength to the bank as it works to develop its business, reinforce its financial position and pursue sustainable long-term growth.
The Sponsor’s increasing investment also signals continued confidence in the bank’s future and its ability to build on its ongoing turnaround journey.