Foreign Investors Show Interest in Privatization of First Women Bank
In a promising step for Pakistan’s economy, foreign investors have expressed interest in the privatization of First Women Bank. Sources report that the UAE government has shown keen interest in acquiring the bank, signaling a positive development.
The government of Pakistan has fast-tracked the privatization process for First Women Bank, with efforts for a government-to-government plan dating back to February 2024. This move is expected to boost the bank’s performance and attract more foreign investment to the country.
In a recent decision, the federal government of Pakistan has agreed to sell 82 percent of the bank’s shares to the UAE government. Following the sale, the State Bank of Pakistan will issue a new license to First Women Bank, with the final sale price and agreement to be determined by a specially formed cabinet committee.
Initiated in 2015, the privatization of First Women Bank Limited marks a significant step towards enhancing the bank’s operations and inviting more foreign investment into Pakistan’s financial sector.
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