Bank Makramah Ltd

What Bank Makramah Ltd does

Bank Makramah Limited is a Pakistani commercial bank headquartered in Karachi that is transitioning into a full-fledged Islamic bank following a 2023 ownership change and rebrand from Summit Bank Limited (SMBL). The bank serves individual consumers, small and medium enterprises, and corporate customers across Pakistan through a physical network of 162+ branches and 182 ATMs spanning 60+ cities, supplemented by digital self-serve channels including internet banking, the BML Mobile App (Android and iOS), an FX Digital Portal, and integration with the State Bank of Pakistan's Raast instant payment system. Approximately 43+ branches have already been converted to licensed Islamic branches under the new ownership of His Excellency Nasser Abdulla Hussain Lootah, who acquired a 60.45% controlling stake in 2023.

The product portfolio spans Shariah-compliant deposit products (Asaan Account Islamic, Daily Savings Account Islamic, Islamic Savings Certificate, Young Bee Account Islamic, PLS Account) and conventional deposit products (Current Account, Classic Current Account with bundled health and hospitalization coverage, Mahana Amdan with monthly payouts, Hoor premium savings, Business Advantage Current Account, Secure Life Current Account, and Hamara Family Savings Account). Beyond deposits, the bank offers bill-payment aggregation (utilities, FBR/SRB tax payments, KMC, CDC, TCS, school fees, insurance, investment funds), the Sohni Dharti Remittance Program and BML ePRC Portal for overseas remittances, UnionPay/Visa/MasterCard debit-card issuance, and account-opening request tracking. The technology backbone combines web-based internet banking with a mobile app, a dedicated FX case-management portal, and real-time payment rails, but no proprietary APIs, SDKs, or AI/ML capabilities are disclosed.

Revenue is generated through three primary streams: profit-sharing and interest income on deposits and Islamic financing arrangements, transaction-based fee and commission income on banking services and remittances, and processing fees from digital banking channels including the FX Digital Portal. Pricing is published semi-annually via Schedule of Charges for both Islamic and Conventional product sets, with monthly profit-rate weightages for Islamic deposit pools. The go-to-market is a hybrid direct-to-consumer model: branch-led acquisition for account opening and complex transactions, with mobile/internet banking, ATM network, Raast, and a 24/7 UAN contact center (021-111-124-365) handling routine self-serve activity. The bank operates under State Bank of Pakistan regulatory oversight with a dedicated Shariah Board governing Islamic product compliance, and reports approximately 532 employees across the enterprise.

Name

Bank Makramah Ltd

Legal name

Bank Makramah Limited

Website

https://bankmakramah.com

Company type

Private

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Bank Makramah Limited is a Karachi-headquartered Pakistani commercial bank transitioning to a full-fledged Islamic bank, serving retail, SME, and corporate customers through 162+ branches, 182 ATMs, and digital channels across 60+ cities in Pakistan under majority ownership of investor Nasser Abdulla Hussain Lootah.

Ownership category

akta.pro rank

Product category

Islamic Retail Banking

NAICS

Commercial Banking (522110), Commercial Banking (52211)

SIC

State Commercial Banks (6022), National Commercial Banks (6021)

akta.pro primary industry

Islamic Retail Banking (FSABAGAA)

akta.pro secondary industries

Islamic SME & Commercial Banking (FSABAGAB), Islamic Deposit & Account Products (Current/Savings/Investment Accounts) (FSABAGAI), Shariah Governance, Compliance & Advisory (Shariah Boards, Audit, Fatwa) (FSABAGAJ)

Keywords

• Islamic banking services
• Retail banking products
• Digital banking platform
• Deposit accounts
• Remittance services

Headquarters

HQ city

Karachi

HQ country

Pakistan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest/Profit Income: Traditional banking income from profit-sharing arrangements on Islamic financing products and interest-earning deposits.
2. Fee and Commission Income: Transaction fees, service charges on accounts, ATM fees, fund transfer charges, and commission on bill payments and remittance services.
3. Digital Banking Services: Revenue from internet banking, mobile banking, and FX digital portal services including processing fees for foreign exchange transactions.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels6 records

Core offering

Bank Makramah Limited is a Pakistani commercial bank that provides a dual Islamic and conventional banking product portfolio including current accounts, savings accounts (PLS, Asaan, Mahana Amdan, Young Bee, Hoor, Hamara Family Savings), Islamic deposit products (Asaan Account Islamic, Daily Savings Islamic, Islamic Savings Certificate), digital banking channels (Internet Banking, BML Mobile App, FX Digital Portal, Raast integration), card-based payment solutions (UnionPay), bill payment services, and remittance services (Sohni Dharti Remittance Program and BML ePRC Portal). The bank serves individual consumers, SMEs, and corporate customers through 162+ branches, 182 ATMs, and digital self-service channels across Pakistan.

Product overview

Bank Makramah Limited (BML) operates as a full-fledged Islamic Bank in Pakistan, offering a comprehensive suite of banking products and services through both conventional and Islamic banking channels. The bank's product portfolio includes deposit products (Current Account, Classic Current Account, Asaan Account, PLS Account, Mahana Amdan Account, Young Bee Account, Hoor Account, Business Advantage Current Account, Secure Life Current Account, and Hamara Family Savings Account) and Islamic deposit products (Asaan Account Islamic, Daily Savings Account Islamic, Islamic Savings Certificate, Young Bee Account Islamic). Digital banking services include Internet Banking, BML Mobile App (available on Android and iOS), Bill Payment, Raast instant payment system, FX Digital Portal, Payment Solution (Cards/Union Pay), BML ePRC Portal, Sohni Dharti Remittance Program, and Account Opening Request Tracker. The bank operates over 162 branches and 182 ATMs across 60+ cities in Pakistan, with 43+ branches converted to licensed Islamic branches.

Differentiator

Problem solved

Functional benefit

Products and services

• Current Account

Quantifiable outcome

• 162+ branches and 182 ATMs across 60+ cities providing wide geographic coverage
• +1 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• State Bank of PakistancoreOthersBank Makramah operates under regulatory oversight and licensing from the State Bank of Pakistan as a scheduled commercial bank, with approvals for Islamic banking operations.
• Pakistan's Instant Payment System (Raast)coreTechnology or IntegrationIntegration with Raast, Pakistan's first instant payment system operated under State Bank of Pakistan guidelines, enabling real-time fund transfers.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Dubai Islamic Bank Pakistan: Subsidiary of Dubai Islamic Bank offering Islamic commercial and consumer banking products in Pakistan. Comparable to BML as a Shariah-compliant commercial bank with a similar mid-tier footprint and Gulf-sponsor lineage, competing for the same Islamic banking customer base.
• Meezan Bank: Pakistan's largest and leading dedicated Islamic bank, offering a full range of Shariah-compliant deposit and financing products across an extensive branch network. Directly comparable to BML on Islamic banking proposition, target segments (retail/SME/corporate), and product breadth, and represents the primary competitor BML must displace to capture Islamic banking share.
• Faysal Bank: Pakistani commercial bank offering both conventional and Islamic banking products (Faysal Islami), with nationwide branch and digital banking presence. Comparable to BML in offering parallel conventional/Islamic product sets to similar retail and SME customers and competing for the same Pakistani deposit pool.
• Bank Islami Pakistan: A full-fledged Islamic commercial bank in Pakistan operating retail, SME, and corporate Islamic banking products with nationwide branch coverage. Highly comparable to BML as a dedicated Islamic banking franchise of similar mid-tier scale, competing head-to-head for Islamic deposits and financing in Pakistan.

Broad incumbents

• Habib Bank Limited (HBL): Pakistan's largest commercial bank with an extensive domestic and international branch network and an Islamic banking window. Comparable to BML as a scheduled commercial bank competing for the same Pakistani retail, SME, and corporate deposits — including Islamic deposits — though HBL is much larger and operates Islamic banking as one product line within a broader conventional franchise.
• National Bank of Pakistan (NBP): State-owned largest Pakistani commercial bank offering retail, SME, corporate, treasury, and Islamic banking services through an extensive nationwide branch network. Comparable to BML as a scheduled commercial bank competing for the same domestic deposits and Islamic banking customers, though NBP operates at significantly larger scale and with government backing.
• MCB Bank Limited: A major Pakistani commercial bank offering retail, SME, corporate, and Islamic banking products with nationwide coverage. Comparable to BML as a broad commercial bank with an Islamic banking proposition serving the same retail and SME customers, though MCB is a much larger incumbent.
• Bank Alfalah: A leading Pakistani private-sector commercial bank with retail, SME, corporate, and Islamic banking operations supported by strong digital channels. Comparable to BML as a commercial bank operating an Islamic banking window alongside conventional products, targeting similar Pakistani retail and SME customer segments.
• United Bank Limited (UBL): One of Pakistan's largest commercial banks with full-service retail, corporate, and Islamic banking operations. Comparable to BML as a broad scheduled commercial bank offering Islamic banking alongside conventional products, competing in the same Pakistani deposit and lending markets though at much greater scale.

Others

• Al Meezan Investment Management: Subsidiary of Meezan Bank offering Shariah-compliant mutual funds and asset management in Pakistan. Comparable to BML as part of Pakistan's broader Islamic finance ecosystem, offering investment products (e.g., Islamic Savings Certificate-style instruments) that overlap with BML's deposit-based Islamic offerings and represent an alternative pool of Shariah-compliant capital for customers.

Market position

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bank Makramah Ltd