In a landmark move to strengthen economic ties between the United Arab Emirates (UAE) and Pakistan, Abu Dhabi-based International Holding Company (IHC) has acquired a majority stake in Pakistan’s state-owned First Women Bank Limited (FWBL). The transaction, conducted under Pakistan’s Inter-Governmental Commercial Transactions Act of 2022, marks the first privatization of a bank in Pakistan under a government-to-government (G2G) framework. The announcement was made in the presence of Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, Chairman of 2PointZero, and Pakistan’s Prime Minister Muhammad Shehbaz Sharif. Established in 1989, FWBL operates 42 branches nationwide, offering retail, SME, and corporate banking services. IHC’s investment aims to modernize the bank by integrating advanced technologies such as artificial intelligence (AI) and automation, enhancing its operational efficiency and expanding its footprint across Pakistan. The transformation strategy includes rebranding the bank to reflect its broader mandate of serving all societal segments and accelerating financial inclusion. Syed Basar Shueb, CEO of IHC, emphasized the company’s confidence in Pakistan’s financial potential and its commitment to fostering long-term economic growth. This acquisition follows IHC’s subsidiary, International Resources Holding (IRH), signing a joint venture with the Government of Balochistan in February 2025, further deepening UAE-Pakistan economic cooperation. Together, these initiatives underscore IHC’s vision of driving sustainable growth, technological transformation, and global economic connectivity.
IHC acquires majority stake in First Women Bank, strengthening UAE–Pakistan economic partnership
