Pakistan approves sale of First Women Bank to UAE buyer amid reform push
As-salamu alaykum - quick update from Karachi: Pakistan’s Cabinet Committee on Inter‑Governmental Transactions has approved a bid from a UAE entity owned by International Holding Company (IHC) to buy the state-owned First Women Bank Limited (FWBL). Alhamdulillah, this is a significant move in the long-delayed privatization effort.
FWBL was set up in 1989 to help increase women’s access to formal banking - offering tailored credit, savings and support for female entrepreneurs. The Privatization Commission recently recommended a reference price to the federal cabinet, and the committee said the approved bid was higher than that reference, which clears a major procedural hurdle.
Officials said this decision paves the way for a government-to-government transaction with the UAE‑nominated IHC entity, and should help bring in more foreign direct investment and restore some investor confidence in Pakistan. Deputy Prime Minister Ishaq Dar, who chaired the meeting, praised the Privatization Commission’s work and stressed the government’s commitment to transparent economic reforms.
The bank has struggled with profitability and slower growth in recent years, and the government moved to sell its stake amid steady pressure from the IMF under a $7 billion loan program to shrink the state’s role in the economy.
Insha'Allah, if handled well this can support both reforms and the bank’s original mission to empower women financially. May Allah guide the process and bring benefit to the community.
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