UAE’s IHC Acquires 82% Stake in Pakistan’s First Women Bank

In a landmark deal highlighting growing UAE-Pakistan economic ties, International Holding Company (IHC) has acquired an 82.64% stake in First Women Bank Limited (FWBL), a state-owned commercial bank headquartered in Karachi. The acquisition marks Pakistan’s first government-to-government bank privatisation under the Inter-Governmental Commercial Transactions Act 2022.

The announcement came during a high-profile event attended by His Highness Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, Chairman of 2PointZero, and Pakistan’s Prime Minister, His Excellency Muhammad Shehbaz Sharif. Analysts say the deal reflects the UAE’s confidence in Pakistan’s financial sector reforms and signals stronger bilateral cooperation in investment and economic growth.

Founded in 1989, FWBL operates 42 branches nationwide, providing services ranging from retail and SME banking to corporate solutions. With IHC at the helm, the bank is set to undergo a major transformation. Plans include boosting its capital base, expanding its operations, and modernising infrastructure with advanced core banking systems, automation, and digital channels supported by analytics and artificial intelligence.

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The acquisition also aims to foster financial inclusion across Pakistan. Alongside technological upgrades, IHC will invest in talent development, building a performance-driven culture, and promoting innovative financial solutions. The bank will eventually be rebranded to reflect its broader mandate and commitment to serving all segments of society.

This deal follows IHC’s strategic initiatives in Pakistan, including a joint venture earlier in 2025 by its subsidiary, International Resources Holding (IRH), with the Government of Balochistan. Together, these efforts underline a shared vision of sustainable growth, technology-driven transformation, and strengthened economic connectivity between the UAE and Pakistan.