International Holding Company (IHC), an Abu Dhabi-based investment firm dedicated to developing integrated value networks, has announced the acquisition of a majority stake in First Women Bank Limited (FWBL), a state-owned institution headquartered in Karachi, Pakistan.
Established in 1989, FWBL operates as a full-service commercial bank with a national network of 42 branches, offering a broad spectrum of services across retail, SME, and corporate banking segments.
IHC described the transaction as a significant milestone—the first bank privatisation in Pakistan executed under a government-to-government (G2G) framework—highlighting the strengthening economic partnership between the United Arab Emirates and Pakistan.
The company emphasized that its investment aligns with a broader strategy to foster resilient financial institutions that drive inclusive economic growth and enable business expansion across key markets.
The announcement was made in the presence of Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, Chairman of 2PointZero, and Muhammad Shehbaz Sharif, Prime Minister of the Islamic Republic of Pakistan.
Following the acquisition, IHC confirmed its commitment to ensuring that FWBL meets the Minimum Capital Requirement (MCR), thereby reinforcing the bank’s financial foundation and supporting its nationwide growth plans.
Commenting on the development, IHC CEO Syed Basar Shueb said the investment in FWBL reflects the group’s confidence in Pakistan’s financial sector and a shared vision for sustained economic progress.
He added, “We see considerable opportunity in Pakistan’s banking sector and are eager to support FWBL’s transformation through technological innovation, automation of banking processes, and the integration of artificial intelligence in financial operations. This acquisition reflects a joint commitment by the UAE and Pakistan to strengthen financial infrastructure, promote innovation, and create long-term value.”
The acquisition builds on a landmark joint venture signed in February 2025 between International Resources Holding (IRH), a subsidiary of IHC, and the Government of Balochistan, along with local partners—further expanding UAE–Pakistan collaboration in strategic sectors.
