IHC acquires majority stake in Pak's First Women Bank Limited

IHC, a global investment company focused on building dynamic value networks, has announced the acquisition of a majority stake in the state-owned First Women Bank Limited (FWBL), based in Karachi, Pakistan, following a successful privatization process conducted under Pakistan's inter-Governmental Commercial Transactions Act of 2022.

- 

The announcement was attended by Sheikh Zayed Bin Hamdan Bin Zayed Al Nahyan, Chairman of 2PointZero, and Muhammad Shehbaz Sharif, Prime Minister of the Islamic Republic of Pakistan.

This landmark transaction marks the first privatization of a bank in Pakistan under a G2G framework, underscoring the strong and growing economic partnership between the United Arab Emirates and Pakistan. It reflects the UAE's confidence in Pakistan's financial sector and reform agenda, while paving the way for greater cooperation and investment between the two nations.

Established in 1989, FWBL operates as a full-fledged commercial bank with a nationwide presence of 42 branches, offering a comprehensive range of retail, SME, and corporate banking services. IHC’s investment in Pakistan's financial and banking sectors represents a significant milestone in its strategy to build and strengthen resilient financial institutions that support comprehensive growth strategies and enable the full expansion of business operations.