Image: IHC
International Holding Company (IHC), a global investment firm, has acquired a majority stake in the state-owned First Women Bank Limited (FWBL) following Pakistan’s first-ever bank privatisation under the Inter-Governmental Commercial Transactions Act of 2022.
The acquisition marks a milestone in UAE–Pakistan economic cooperation and signals growing investor confidence in Pakistan’s financial sector and reform agenda.
Established in 1989, FWBL operates as a full-fledged commercial bank with 42 branches across the country, offering retail, SME, and corporate banking services.
IHC to recapitalise FWBL, launch modernisation
Under the agreement, IHC will recapitalise the bank to meet the minimum capital requirement and launch a modernisation programme aimed at transforming FWBL into a digitally driven, AI-enabled financial institution.
The strategy includes upgrading core banking infrastructure, automating operations, and integrating advanced analytics to enhance efficiency and customer experience.
As part of the overhaul, FWBL will undergo rebranding to reflect its expanded mandate of serving a broader customer base and promoting financial inclusion nationwide. IHC also plans to invest in workforce development, fostering a performance-oriented culture and upskilling talent to drive innovation.
“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,” said Syed Basar Shueb, CEO of IHC. “We aim to support the bank’s modernisation journey by leveraging technology, automation, and AI to strengthen financial infrastructure and create sustainable value.”
The deal follows IHC subsidiary International Resources Holding’s joint venture earlier this year with the Government of Balochistan, underscoring IHC’s growing footprint in Pakistan across finance, industry, and infrastructure.
Together, these initiatives reflect IHC’s long-term goal of fostering technology-led growth and deepening economic ties between the UAE and Pakistan.
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