Today's Edition
ABU DHABI (ALETIHAD)
International Holding Company (IHC) has acquired a majority stake in First Women Bank Limited (FWBL), a state-owned commercial bank based in Karachi, following a successful privatisation process under Pakistan’s Inter-Governmental Commercial Transactions Act of 2022, the company said in a statement.
According to IHC, the transaction represents the first bank privatisation in Pakistan under a government-to-government framework and highlights the growing economic partnership between the UAE and Pakistan. The move reflects the UAE’s confidence in Pakistan’s financial sector and reform agenda, paving the way for deeper investment cooperation between the two nations.
The Abu Dhabi-based firm said that following the acquisition, it will ensure FWBL meets the Minimum Capital Requirement (MCR) to strengthen its capital base and expand operations across Pakistan.
IHC plans to modernise the bank’s infrastructure and processes by integrating digital channels, artificial intelligence and advanced analytics to deliver faster and more efficient financial services.
IHC added that the transformation will include a rebranding exercise to reflect FWBL’s broader mandate of serving all customer segments and promoting financial inclusion.
The company said it would also focus on talent development and capacity building, fostering a performance-driven culture to support innovation and growth.
Syed Basar Shueb, CEO of IHC, said in the statement: “Our investment in First Women Bank Limited reflects IHC’s confidence in Pakistan’s financial potential and our shared vision for long-term economic growth. We see strong potential in the country’s financial sector and look forward to supporting the bank’s modernisation journey by leveraging technology and advancing the use of AI in financial decision-making.”
IHC said the acquisition builds on its earlier ventures in Pakistan, including a joint venture signed in February 2025 by its subsidiary International Resources Holding (IRH) with the Government of Balochistan and local partners.
The company noted that these initiatives reaffirm its long-term strategy of promoting technology-driven transformation and sustainable global economic connectivity.
IHC statement did not disclose the financial details of the transaction.
