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The government of Pakistan is set to privatise its 82.64% stake in First Women Bank Limited (FWBL), transferring majority ownership to UAE-based International Holding Company (IHC) under a government-to-government (G2G) agreement. The deal, expected to close by October 22, 2025, aims to bring fresh capital, boost operational efficiency, and restore investor confidence in the country’s privatisation drive.
This development comes as part of Pakistan’s broader economic reform plan approved earlier this year, which includes the privatisation of 24 state-owned enterprises (SOEs) such as Pakistan International Airlines (PIA) and key power and financial institutions.
According to Secretary Privatisation Usman Bajwa,
“This transaction is not merely a sale of assets but a revival strategy for a vital institution.”
The First Women Bank, established in 1989 to support women entrepreneurs and financial inclusion, has faced recurring financial challenges. The current move marks the fifth attempt to privatise the bank after earlier efforts in 1994, 1996, 2018, and 2021 failed.
At present, the Ministry of Finance holds the largest share at 82.64%, while Habib Bank Limited and MCB Bank own 5.78% each, with smaller stakes held by Allied Bank, National Bank of Pakistan, and UBL.
The government hopes that through IHC’s investment, FWBL will regain stability and expand its outreach to women-led businesses across Pakistan.
