Summit Bank rebrands as Bank Makramah

In a significant development, Summit Bank Limited (SMBL) has transformed and rebranded itself as Bank Makramah Limited (abbreviated as BML). The new name and logo shall be effective and visible across all platforms starting today, November 27, 2023, as per a press release.

The Pakistan Stock Exchange has duly notified all participants regarding the new name. Moreover, the National Clearing Company of Pakistan Limited (NCCPL) responded to the bank’s request by assigning the new security symbol ‘BML’ in alignment with the rebranding initiative.

This shift in identity follows the decision made by the board of directors on July 17, 2023, to redefine the bank’s name.

TDAP’s seminar

The first of a series of seminars on “Standards & Circularity in Textiles” was held in the Trade Development Authority of Pakistan (TDAP), Karachi, last week, as per a press release.

Sustainability was the core emphasis of the discussions as it remains at the forefront of global concerns. As a major player in the global economy, the textile industry has a significant role in addressing environmental challenges.

The esteemed speakers shared their expertise on sustainability practices and the integration of circularity in textile manufacturing processes.

The seminar aimed to develop an understanding and build capacity among textile and leather exporters to tackle the challenges regarding sustainability and circularity.

Roundtable Session at CEIF, IBA

Institute of Business Administration’s Centre for Excellence in Islamic Finance, in collaboration with Ihsan Trust and Meezan Bank, conducted a roundtable discussion on Islamic Social Finance at IBA City Campus, as per a press release.

The session aimed to explore how non-governmental organisations (NGOs) can contribute towards Pakis­­tan’s economic development by using Islamic social finance modes. Another purpose was to explore the formation of a forum where the NGOs can collaborate for the country’s greater good.

Justice Dr Syed Anwar Shah, current Alim Judge and former Chief Justice of Federal Shariat Court, was the chief guest. He elaborated on the role NGOs and Islamic social finance can play in Pakistan’s economic development.

NBP’s Riyadh meeting

According to a press release, Rehmat Ali Hasnie, President & CEO of the National Bank of Pakistan, attended the UnionPay International Regional Member Council Meeting in Riyadh, KSA. He presented NBP’s Vision for e-commerce and online payments during the council meeting. The meeting was also attended by delegates from across the financial sector from the Middle East, Türkiye, China, and Pakistan.

Published in Dawn, The Business and Finance Weekly, November 27th, 2023