Pakistan Finalises Sale of First Women Bank to UAE Firm

Prime Minister Shehbaz Sharif called the sale of the First Women Bank Limited (FWBL) to the UAE’s International Holding Company (IHC) “the first drop of rain.”
He said the deal marks the beginning of Pakistan’s new privatisation journey and strengthens economic ties under the G2G framework.
The prime minister shared his optimism at the signing ceremony in Islamabad.
He said the partnership would attract foreign investors and boost confidence in Pakistan’s financial future.
“This agreement is the start of a long and promising journey,” he said.
He added that more projects are in progress, aiming to reform state enterprises and open new paths for private-led growth.

A Symbol of Trust

The event brought together key leaders, including Deputy Prime Minister Ishaq Dar, Army Chief General Asim Munir, and Sheikh Zayed bin Hamdan Al Nahyan.
PM Shehbaz welcomed the UAE delegation and praised their consistent friendship with Pakistan.
He said the deal shows the UAE’s trust in Pakistan’s economy and its support for joint ventures in trade and banking.
The First Women Bank, created to empower women entrepreneurs, will now grow under new management and international expertise.
“This marks a journey of shared prosperity and happiness,” he added.
He promised that more agreements will follow — not in years, but in weeks.
Adviser Muhammad Ali noted that this was Pakistan’s first-ever G2G deal in the banking sector.
It took over a year to complete, showing the government’s resolve to revive its privatisation program.
IHC’s CEO Syed Basar Shuaib said the company plans multi-billion-dollar investments in finance, energy, and minerals.
He called the FWBL deal only the beginning of a long-term partnership.
The signing between Syed Basar Shuaib and Nishita Mohsin marked a new chapter of economic confidence and cooperation between Pakistan and the UAE.