| |
Company type | Private |
---|---|
Industry | Banking Capital Markets |
Founded | December 2, 1988 |
Headquarters | Karachi-75530, Pakistan |
Key people | Farrukh Iqbal Khan (CEO) |
Products | Loans, credit cards, debit cards, savings, consumer banking, and bancassurance |
Website | fwbl |
First Women Bank Limited (FWBL) is a Pakistani state-owned commercial bank for women with headquarters in Karachi. [1]
The 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. It began its business on 2 December 1988 with a paid up capital of PKR 100 Million. [2]
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. [2]
The Cabinet Committee on Privatisation (CCoP) approved transaction structures for the privatisation of First Women Bank Ltd. [3] [4]
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. [5]
Privatization can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when a heavily regulated private company or industry becomes less regulated. Government functions and services may also be privatised ; in this case, private entities are tasked with the implementation of government programs or performance of government services that had previously been the purview of state-run agencies. Some examples include revenue collection, law enforcement, water supply, and prison management.
Punjab National Bank is an Indian government public sector bank based in New Delhi. It was founded in May 1894 and is the second-largest public sector bank in India in terms of its business volumes, with over 180 million customers, 12,248 branches, and 13,000+ ATMs.
National Bank of Pakistan, abbreviated as NBP is a Pakistani government-owned multinational commercial bank which is a subsidiary of State Bank of Pakistan. It is headquartered in Karachi, Pakistan. As of December 2022, it has over 1,500 branches across Pakistan.
Habib Metropolitan Bank, stylized as HABIBMETRO, is a Pakistani commercial bank headquartered in Karachi. It is a subsidiary of Swiss bank Habib Bank AG Zurich.
Bank Alfalah Limited, formerly Habib Credit and Exchange Bank, is a Pakistani retail bank that is a subsidiary of the Emirati company Abu Dhabi United Group.
United Bank Limited (UBL) (یونائیٹڈ بینک لمیٹڈ) is a Pakistani multinational commercial bank which is based in Karachi, Pakistan.
Bank Al Habib Limited is a Pakistani commercial bank owned by the Dawood Habib Family and is based in Karachi, Pakistan. It is one of the largest banks in Pakistan.
Habib Bank Limited commonly known as HBL, is a Pakistani commercial bank based at Habib Bank Plaza, Karachi, Pakistan.
MCB Bank Limited is a Pakistani multinational commercial bank which is based in Lahore, Punjab, Pakistan. The majority of shares are owned by Pakistani conglomerate Nishat Group and Malaysian bank Maybank. The bank has a network of 1600 branches and over 1450 ATMs in Pakistan. The current President/CEO of the bank is Shoaib Mumtaz.
Askari Bank Limited, formerly Askari Commercial Bank, is a Pakistani commercial and retail bank headquartered in Islamabad. It is owned by Fauji Foundation.
Allied Bank Limited (ABL) is a Pakistani commercial bank based in Lahore, Punjab, Pakistan. It is a subsidiary of the Ibrahim Group.
PPF Group is an international diversified investment group founded in 1991 in the Czech Republic. PPF Group invests in a variety of sectors, including banking and financial services, telecommunications, media, biotechnology, real estate and industry. The geographical reach of PPF Group spans Europe, North America and Asia. It is currently active in the Czech Republic, Slovakia, Serbia, Hungary, Switzerland, Ukraine, Turkey, Netherlands, Bulgaria, Croatia, Poland, Romania, Slovenia, Kazakhstan, Finland, Germany, India, Indonesia, Vietnam, Philippines, China, France, United Kingdom and the United States.
The Cabinet of Pakistan is a formal body composed of senior government officials chosen and led by the Prime Minister. All cabinet members sworn in are designated Minister and are seated at their respective ministries located in the Pakistan Secretariat.
Jinnah Convention Centre is an exhibition and convention centre based in Islamabad, Pakistan. It is named after Muhammad Ali Jinnah.
The Privatisation process in Pakistan is a continuous policy measure program in the economic period of Pakistan. It was first conceived and implemented by the then-people-elected Prime Minister Nawaz Sharif and the Pakistan Muslim League, in an attempt to enable the nationalised industries towards market economy, immediately after the economic collapse of the Soviet Union in 1989–90. The programme was envisaged and visioned to improve the GDP growth of the national economy of Pakistan, and reversal of the nationalisation programme in 1970s— an inverse of the privatisation programme.
House Building Finance Company Limited (HBFCL), (ہاؤس بلڈنگ فنانس کمپنی لمیٹڈ) previously known as House Building Finance Corporation (HBFC), is a Pakistani housing finance company which is a subsidiary of State Bank of Pakistan. Founded in 1952, it is based in Karachi, Pakistan.
Sultan Ali Allana is a Pakistani banker who is chairman of Habib Bank Limited and a director of the Aga Khan Fund for Economic Development. He is a recipient of Hilal-i-Imtiaz in 2006 and Sitara-i-Imtiaz in 2022 for his services to Pakistan.
The Pakistan Privatization Commission is a government agency in Pakistan under the Ministry of Privatization that is responsible for implementing the government's privatization program. The commission is tasked with the open and transparent privatization of federal government assets such as its stake in banks, industrial units, public utilities, oil, gas, transport companies and infrastructure service providers.
Muhammad Aurangzeb is a Pakistani banker who currently serving as the Minister of Finance for Pakistan since 11 March 2024. He previously served as the chief executive officer (CEO) and president of Habib Bank Limited from February 2018 to March 2024.
After the 2024 general elections in Pakistan, Shahbaz Sharif's second ministry was formed. Shehbaz Sharif from the Pakistan Muslim League-N was elected as the Prime Minister. President Asif Ali Zardari took the oath of office. The new Cabinet composition has been described as a "Lean", with its composition being influenced by the need of the new government to respond quickly to the current economic crisis. The Cabinet includes PML-N, MQM(P), PML(Q), IPP and independents.