Emirati Royal and Pakistani PM Attend as Global Holding Company Acquires 82.64% Stake in First Women Bank Limited

International Holding Company (IHC) has acquired an 82.64% stake in Pakistan's First Women Bank Limited, marking the country's first government-to-government bank privatization deal. The acquisition brings Emirati capital and expertise to Pakistan's banking sector while strengthening economic ties between the two nations.

The deal was announced in the presence of Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, Chairman of 2 Point Zero, and Pakistani Prime Minister Muhammad Shehbaz Sharif. It was completed under Pakistan's Government-to-Government Commercial Transactions Act of 2022.

First Women Bank Limited, founded in 1989, operates as a full-service commercial bank with 42 branches across Pakistan. The bank serves retail customers, small and medium enterprises, and corporate clients through its nationwide network based in Karachi.

IHC plans a complete transformation of the bank. The company will inject capital to meet minimum requirements and modernize the institution's technology infrastructure. This includes automating operations, integrating digital channels, and implementing artificial intelligence for faster, smarter banking services.

The bank will undergo rebranding with a new name and identity to reflect its expanded role serving all segments of Pakistani society. IHC also plans significant investment in human capital development and building a performance-driven culture among staff.

"This investment reflects our confidence in Pakistan's financial potential and our shared vision for long-term economic growth," said Syed Basar Shueb, CEO and Managing Director of IHC. "We see strong opportunities in Pakistan's financial sector and look forward to supporting the bank's modernization journey through technology and AI-enhanced decision-making."

The acquisition follows a joint venture signed in February 2025 between International Resources Holding - an IHC subsidiary - and Balochistan's government with local partners. These deals demonstrate IHC's long-term commitment to Pakistan across strategic sectors.

For Pakistan, the privatization brings much-needed foreign investment and banking expertise. The country has been seeking to modernize its financial sector and attract international capital. For UAE investors, Pakistan's large population and growing economy present opportunities in an underbanked market.

The deal represents a broader trend of Gulf capital flowing into South Asian markets, particularly in banking and financial services where local institutions often lack the resources for major technology upgrades and expansion.