Pakistan Pakistan's federal government is planning to sell First Woman Bank Limited to the UAE government, media reports said.
As per details, the 82 percent shares will be sold on government-to-government level after getting a green signal from the UAE government, reported Ary News.
After the sale, the State Bank of Pakistan will issue a new license to First Women Bank. The sale price and agreement finalization will be carried out by the eight-member cabinet committee formed by the federal government, the news channel reported.
According to reports, the privatization process of the First Women Bank Limited was initiated in 2015.
What is First Women Bank Limited?
First Women Bank Limited (FWBL) is a commercial bank located in Karachi, Pakistan chartered to meet the special needs of women.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
