The International Holding Company (IHC) of Abu Dhabi has officially taken over First Women Bank Limited (FWBL), marking a significant step in Pakistan’s efforts to revive its privatisation programme and strengthen women’s participation in the financial sector.
At a signing ceremony in Islamabad on Friday, Prime Minister Shehbaz Sharif hailed the transaction as a “milestone in Pakistan-UAE economic partnership,” noting that the deal represents the “first drop of rain” in a broader push for strategic foreign investment.
Under the agreement — finalised through a government-to-government (G2G) arrangement — IHC acquired a majority stake in FWBL, with plans to inject Rs6.8 billion over five years to meet the bank’s Rs10 billion minimum capital requirement.
The UAE delegation was led by Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, chairman of 2PointZero, while IHC CEO Syed Basar Shueb said the move demonstrates “long-term confidence in Pakistan’s financial future.”
He added that IHC plans to modernise FWBL by “integrating advanced digital tools and AI-based financial solutions” to enhance women’s access to banking services.
Prime Minister Shehbaz reaffirmed that FWBL’s founding purpose — empowering women entrepreneurs — would remain central under new ownership. “This partnership will strengthen women’s financial inclusion while unlocking new economic opportunities,” he said.
This marks Pakistan’s first banking-sector divestment under the Inter-Governmental Commercial Transactions Act 2022. Established in 1989, FWBL operates 42 branches nationwide, serving women, SMEs, and corporate clients.
