Pakistan-UAE Strengthen Ties Through FWBL Acquisition

Prime Minister Shehbaz Sharif has praised the acquisition of First Women Bank Ltd (FWBL) by Abu Dhabi-based International Holding Company (IHC), calling it a major step forward in strengthening Pakistan’s economic partnership with the UAE. He highlighted that this deal marks a new chapter in bilateral cooperation, paving the way for future joint ventures and investments across various sectors that could boost economic growth and opportunity.

At the signing ceremony, the Prime Minister described the agreement as “the first drop of rain,” symbolizing the beginning of a broader effort to deepen economic collaboration with the United Arab Emirates. The ceremony also marked the formal transfer of a majority stake in FWBL to IHC under a government-to-government (G2G) framework. The UAE delegation was led by Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, chairman of 2PointZero, reflecting the strong interest of the UAE in expanding its footprint in Pakistan’s financial sector.

The federal cabinet had already approved the sale of the government’s entire stake in FWBL, valued at around $14.6 million (approximately Rs 4.1 billion). Though the final figure has yet to be formally announced, this milestone represents much more than a financial transaction  it’s a signal of growing trust, collaboration, and shared economic ambition between Pakistan and the UAE.