ISLAMABAD – October 5, 2025: The Competition Commission of Pakistan (CCP) has granted approval for the merger of Global Haly Development Limited with and into Bank Makramah Limited under a Scheme of Arrangement.
The transaction, filed under Section 11 of the Competition Act, 2010, read with the Competition (Merger Control) Regulations, 2016, will result in Bank Makramah issuing ordinary shares to the shareholders of Global Haly Development. Following completion, Bank Makramah will remain the surviving entity, while Global Haly Development will be dissolved.
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CCP’s Review and Findings
The CCP conducted a Phase-I review and defined the relevant market as commercial banking within Pakistan. Since Global Haly Development operates in real estate and infrastructure development—not banking—the merger does not involve any horizontal overlaps.
According to the CCP, Bank Makramah holds a modest market share in Pakistan’s commercial banking sector. Therefore, the transaction is not expected to lessen competition or create market dominance.
Purpose of the Merger
The merger primarily aims to help Bank Makramah meet minimum capital requirements and improve its operational strength. With the infusion of new capital through this arrangement, the bank is expected to enhance its financial position and better serve its clients.
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CCP’s Decision
The Commission concluded that the merger aligns with competition regulations and does not pose risks to market competitiveness. As a result, the transaction has been formally authorized under Section 31(1)(d)(i) of the Competition Act, 2010.
