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First Women Bank
First Women Bank Limited (FWBL) is a Pakistani state-owned commercial bank for women with headquarters in Karachi.[1] HistoryThe blueprint for infrastructure of the Bank was designed by Akram Khatoon. She presented it in 1988 to the Prime Minister Benazir Bhutto, who approved to set up the bank in December 1988.[2] It began its business on 2 December 1989 with a paid up capital of PKR 100 Million.[3] The Government of Pakistan now owns majority shareholding in the bank. The remaining shares are held by the five big commercial banks – National Bank of Pakistan, Habib Bank Limited, Muslim Commercial Bank Limited, United Bank Limited and Allied Bank Limited.[3] PrivatisationThe Cabinet Committee on Privatisation (CCoP) approved transaction structures for the privatisation of First Women Bank Ltd.[4][5] After a hiatus of several years, in February 2024, the Federal Cabinet of the Government of Pakistan finally approved the privatization of the First Women Bank.[6] References
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