The federal government is set to divest its 82.64% stake in First Women Bank Limited (FWBL) to the UAE-based International Holding Company (IHC), under a government-to-government (G2G) arrangement.
According to a report by The News, the deal, expected to close by October 22, 2025, is designed to inject fresh capital into FWBL, enhance its operational efficiency, and strengthen investor confidence in Pakistan’s broader privatisation programme.
As per official sources, the transaction is “not merely a sale of assets, but a revival strategy for a vital institution.”
In May, the government approved the privatisation of 24 state-owned enterprises (SOEs), with Pakistan International Airlines (PIA), First Women Bank, and several power and financial institutions set for privatisation in the first phase.
The National Assembly Standing Committee on Privatisation was informed that Pakistan is on track to complete the sale of its 82.64% stake in First Women Bank Limited (FWBL) to a UAE-based firm next month under a government-to-government agreement.
Secretary Privatisation Usman Bajwa shared with the committee that a UAE-based firm had shown formal interest earlier this year, and the cabinet had approved the transaction on February 6, 2024.
This will mark the fifth attempt to privatise FWBL, following failed attempts in 1994, 1996, 2018, and 2021. FWBL, which was established in 1989, operates 42 branches across 24 cities.
The Ministry of Finance holds the majority stake, while Habib Bank Limited and MCB Bank each own 5.78%, with smaller shares held by Allied Bank, National Bank of Pakistan, and UBL.
