The International Holding Company has announced its acquisition of a majority stake in the First Women Bank Limited, a state-owned institution in Pakistan based in Karachi, following a successful privatization process under the 2022 Government-to-Government Transaction Act in the country.
The transaction announcement was attended by Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, Chairman of 2.0 Company, and Shahbaz Sharif, Prime Minister of the Islamic Republic of Pakistan.
This landmark deal marks the first privatization of a Pakistani bank executed through a joint initiative between governments, underscoring the robust economic partnership evolving between the United Arab Emirates and the Islamic Republic of Pakistan.
Additionally, this move reflects the UAE’s confidence in Pakistan’s financial services sector and economic reform program, paving the way for further collaboration and investment opportunities between the two nations.
Comprehensive Services
Since its establishment in 1989, First Women Bank Limited has solidified its position as a comprehensive commercial bank with a strong local presence, operating a national network of 42 branches across Pakistan. The bank offers a full range of banking services for individuals, small and medium-sized enterprises, and corporate clients.
The investment by the International Holding Company in Pakistan’s financial and banking sector represents a significant milestone in its strategy to build and develop robust financial institutions that enhance financial inclusion, empowerment, and sustainable growth through the application of innovation and technology.
Operational Expansion
Following the acquisition, the International Holding Company aims to ensure the bank meets the minimum capital requirements, strengthening its capital base and supporting the expansion of its operations throughout Pakistan.
The transformation strategy focuses on establishing an innovative financial institution supported by artificial intelligence by upgrading the core banking infrastructure, automating operations, and integrating digital channels with advanced analytics and AI for faster, smarter, and more efficient services.
Investment in human capital will be a vital component of the transformation plan, with the International Holding Company prioritizing talent development, capacity building, and fostering a performance-driven culture to enable banking staff to provide innovative solutions on a larger scale.
The bank will also undergo a rebranding process, adopting a new name and identity that reflect its expanded role and comprehensive orientation to serve all segments of society and enhance financial inclusion in Pakistan.
Promising Opportunities
Syed Basar Shuaib, CEO of the International Holding Company, stated, “Our investment in First Women Bank Limited reflects our confidence in Pakistan’s financial potential and our shared vision for long-term economic growth.”
He emphasized the numerous promising prospects within the Pakistani financial sector, expressing eagerness to support the development and modernization of the bank’s operations through technology, automation of banking processes, and increased use of artificial intelligence in financial decision-making. This investment signifies the shared commitment between the UAE and Pakistan to promote innovation, enhance financial infrastructure, and achieve sustainable value.
Initiatives
This acquisition follows a joint venture agreement signed in February 2025 between International Resources Holding, a subsidiary of the International Holding Company, the government of Balochistan, and local partners.
This agreement contributes to strengthening economic cooperation between the UAE and Pakistan in strategic and vital sectors. These initiatives reflect the International Holding Company’s long-term vision to promote sustainable growth, accelerate technology-driven transformation, and enhance global economic connectivity.