A Hindu business family from Sindh may soon own a bank in Pakistan for the first time since the 1947 Partition. The Essarani family, through a consortium led by DM Holdings, has submitted a letter of intent to buy a big stake in Bank Makramah and inject up to Rs26 billion in fresh capital.
The Essarani family is well-known in Sindh for success in industry, agriculture, and commodities trading. This move would mark their first step into the banking sector. Bank Makramah, formerly known as Summit Bank, is a small Islamic bank based in Karachi. It has seen ownership changes before. In 2023, Dubai-based investor Nasser Abdulla Hussain Lootah acquired a major share.
The bank informed the Pakistan Stock Exchange on June 11, 2026, about the expressions of interest. Talks are now underway. The deal needs full due diligence, approvals from the State Bank of Pakistan, and other regulators.
If successful, this deal would be a rare example of a non-Muslim Pakistani family leading a bank. It shows growing confidence among minority business communities in Pakistan’s economy. The injection of Rs26 billion could strengthen the bank’s capital base, improve services, and support its growth in Islamic banking.
Experts see this as a positive sign of diversity and investment in the financial sector. The final outcome will depend on regulatory approvals. This development is being closely watched across the country.
