In a historic move, Abu Dhabi-based International Holding Company (IHC) has acquired a majority stake in Pakistan’s state-owned First Women Bank Limited (FWBL), marking the first privatisation of a bank in Pakistan under a Government-to-Government (G2G) framework. The transaction, conducted under Pakistan’s Inter-Governmental Commercial Transactions Act of 2022, highlights the deepening economic ties between the United Arab Emirates (UAE) and Pakistan. 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 underscores its commitment to strengthening Pakistan’s financial sector and supporting its reform agenda. Post-acquisition, IHC plans to modernise FWBL by integrating advanced technologies such as artificial intelligence (AI) and automation to enhance operational efficiency and expand its footprint across Pakistan. The transformation strategy also includes rebranding the bank to reflect its broader mandate of financial inclusion and societal service. Syed Basar Shueb, CEO of IHC, expressed confidence in Pakistan’s financial potential and the shared vision for sustainable economic growth. This acquisition follows IHC’s earlier joint venture with the Government of Balochistan, further solidifying UAE-Pakistan economic cooperation.