ISLAMABAD: Pakistan’s government is in the final phase of privatizing First Women Bank Limited (FWBL), with 82.64 percent shares to be transferred to the International Holding Company (IHC) of the United Arab Emirates under a government-to-government (G2G) arrangement.
The deal, expected to conclude within two weeks, will mark the first privatization of a financial institution under the current government. Officials say the agreement will bring fresh foreign investment, enhance operational efficiency, and boost investor confidence in Pakistan’s privatization program.
The reference price is currently being determined by the evaluation committee and will be discussed with the Privatization Commission Board subsequently with the Cabinet Committee on Intergovernmental Commercial Transactions (CCoIGCT), currently chaired by Deputy Prime Minister Ishaq Dar.
In 2018, the company was first privatized for sale but was postponed because of financial audit and has gained traction following a cabinet vote in February 2024. IHC will also inject new capital to make the bank stronger under the agreement to continue with its mission to empower women financially.
