Share purchase agreement between UAE's IHC and Pakistan's FWBL to be signed today

The UAE-based International Holding Company (IHC) has successfully acquired a majority stake in Pakistan’s First Women Bank Limited (FWBL), with the share purchase agreement set to be signed today, sources told Nukta.

The deal, valued at approximately $14.6 million (PKR 4.1 billion), involves the purchase of 84% of FWBL’s shares.

The agreement is the outcome of successful government-to-government (G2G) negotiations between Pakistan and the UAE.

The transaction was given preliminary approval by a special cabinet committee on intergovernmental commercial transactions, chaired by the deputy prime minister. It has also been formally approved by the federal cabinet headed by Prime Minister Shehbaz Sharif.

This strategic acquisition not only reflects the UAE’s confidence in Pakistan’s financial sector but also aligns with Islamabad’s broader goals of privatization and economic revitalization through foreign partnerships.

Two days back Pakistan’s Cabinet Committee on Inter-Governmental Transactions (CCoIGT) has approved a bid for the privatization of First Women Bank Limited (FWBL).

The winning bid, which exceeded the reference price set for the bank, comes from an entity nominated by the International Holding Company (IHC), based in the UAE.