Abu Dhabi-based International Holding Company (IHC) has completed the acquisition of a majority stake in Pakistan’s state-owned First Women Bank Limited (FWBL), marking the first bank privatisation under Pakistan’s Inter-Governmental Commercial Transactions Act of 2022.
The agreement was announced in the presence of Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, Chairman of 2PointZero, and Muhammad Shehbaz Sharif, Prime Minister of Pakistan. The transaction highlights the strengthening economic partnership between the UAE and Pakistan.
Established in 1989, FWBL operates 42 branches across Pakistan, offering retail, SME and corporate banking services. IHC plans to expand the bank’s national footprint, enhance its financial capacity, and introduce digital and AI-driven solutions to modernise its operations.
Planned upgrades include improvements to core banking infrastructure, greater process automation, and the integration of AI and analytics to drive efficiency. The company also aims to invest in workforce development, encourage a performance-based culture, and rebrand the bank to reflect its broader mandate and commitment to financial inclusion.
“Our investment in First Women Bank reflects IHC’s confidence in Pakistan’s financial sector and our shared vision for sustainable growth. We look forward to supporting the bank’s modernisation through technology and AI, driving innovation and long-term value creation,” said Syed Basar Shueb, CEO of IHC.
The acquisition follows IHC subsidiary International Resources Holding’s joint venture with the Government of Balochistan and local partners in February 2025, further strengthening UAE–Pakistan economic cooperation.
