First Women Bank

Last updated
First Women Bank Limited
Company typePrivate
Industry Banking
Capital Markets
Founded Karachi, December 2, 1988;35 years ago (1988-12-02)
HeadquartersHead office
Karachi-75530, Pakistan
Key people
Farrukh Iqbal Khan (president and CEO)
ProductsLoans, credit cards, debit cards, Savings, Consumer Banking, Bancassurance etc.
Website www.fwbl.com.pk

First Women Bank Limited (FWBL) is a commercial bank located in Karachi, Pakistan chartered to meet the special needs of women. [1]

Contents

History

The blueprint for infrastructure of the Bank was designed by Akram Khatoon, a senior banker who worked for the Muslim Commercial Bank for 27 years. She presented it in 1988 to the Prime Minister Benazir Bhutto, [2] who approved to set up the bank in December 1988. The Bank commenced its business on 2 December 1988 with a paid up capital of PKR 100 Million. [3]

The Government of Pakistan now owns majority shareholding (more than 80%) 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. [4]

Privatisation

The Cabinet Committee on Privatisation (CCoP) approved transaction structures for the privatisation of First Women Bank Ltd. [5] [6]

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. [7]

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References

  1. ↑ "Unique Charter » First Women Bank". Fwbl.com.pk. 2002-11-12. Archived from the original on 2022-08-10. Retrieved 2016-09-04.
  2. ↑ "History » First Women Bank". Fwbl.com.pk. Archived from the original on 2016-10-27. Retrieved 2016-09-04.
  3. ↑ Ali, Meiryum (2020-03-23). "Can Naushaba Shahzad turn FWBL around before it is too late?". Profit by Pakistan Today. Retrieved 2020-09-11.
  4. ↑ Ali, Meiryum (2020-03-23). "Can Naushaba Shahzad turn FWBL around before it is too late?". Profit by Pakistan Today. Retrieved 2020-09-11.
  5. ↑ Paracha, Shahzad (2020-08-21). "CCoP approves 7pc divestment in OGDC,10pc in PPL shares". Profit by Pakistan Today. Retrieved 2020-09-11.
  6. ↑ "Govt to sell stakes in three firms". The Express Tribune. 2020-08-21. Retrieved 2020-09-11.
  7. ↑ "Federal Cabinet approves restructuring of PIA, privatization of FWBL". Radio Pakistan. 2024-02-06. Retrieved 2024-03-07.


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