Pakistan planning to sell First Women Bank Limited to UAE govt

Pakistan. Photo Courtesy: Unsplash

#Pakistan, #UAE, #FirstWomanBankLimited

IBNS-CMEDIA: 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.