Pakistan nears completion of First Women Bank’s privatization

ISLAMABAD: In a significant milestone for Pakistan’s economic reform agenda, the government is set to divest its majority stake in the First Women Bank Limited (FWBL), marking the first true privatisation of a financial institution under the current administration.

The transaction, structured under a government-to-government (G2G) framework, will see 82.64pc of the state’s shares transferred to the UAE-based International Holding Company (IHC).

According to senior official sources, the deal—expected to conclude by October 22, 2025—represents a strategic step to inject fresh capital into FWBL, enhance its operational capabilities, and bolster investor confidence in Pakistan’s broader privatisation programme. “This is not merely a sale of assets; it is a revival strategy for a vital institution,” a senior government official remarked, adding that the transaction will also strengthen foreign exchange reserves. Economists and financial analysts view the FWBL privatisation as a litmus test for Pakistan’s economic liberalisation efforts. “This sends a strong message to global investors that Pakistan is ready to move beyond rhetoric and take actionable steps toward restructuring its economy,” noted one senior economist.