Abu Dhabi – Mubasher: International Holding Company (IHC) has acquired a majority stake in Pakistan’s First Women Bank Limited (FWBL), marking the first privatization of a bank in Pakistan under a G2G framework.

This followed a successful privatization process conducted under Pakistan’s Inter-Governmental Commercial Transactions Act of 2022, according to a press release.

This transaction reflects the strong and growing economic partnership between the UAE and Pakistan, paving the way for greater cooperation and investment between the two nations.

IHC’s investment in Pakistan’s financial and banking sectors aligns with its strategy to build and anchor resilient financial institutions that support comprehensive growth strategies and enable the full expansion of business operations.

Following the acquisition, IHC will ensure that the lender meets the Minimum Capital Requirement (MCR), boosting its capital base and backing the expansion of operations and its footprint across Pakistan.

The transformation strategy will focus on developing an AI-enabled financial institution by modernizing core banking infrastructure, automating processes, and integrating digital channels with advanced analytics and AI to deliver faster, smarter, and more efficient services.

Syed Basar Shueb, CEO of IHC, commented: “We see strong potential in the country’s financial sector and look forward to supporting the bank’s modernization journey by leveraging technology, automating banking processes, and advancing the use of AI in financial decision-making.”

“This acquisition represents a shared commitment between the UAE and Pakistan to drive innovation, strengthen financial infrastructure, and deliver sustainable value creation,” he added.

Established in 1989, FWBL operates as a full-fledged commercial bank with a nationwide presence of 42 branches, offering a comprehensive range of retail, SME, and corporate banking services.

IHC plans to merge its flagship portfolio companies 2PointZero,  Multiply Group, and Ghitha Holding into a single, next‑generation investment powerhouse valued at AED 120 billion, creating one of Abu Dhabi’s largest listed investment companies.