First Women Bank
Template:Short description Script error: No such module "about". Script error: No such module "Infobox".Template:Template otherScript error: No such module "Check for conflicting parameters".Script error: No such module "Check for unknown parameters". Template:Benazir Bhutto sidebar First Women Bank Limited (FWBL) is a Pakistani state-owned commercial bank for women with headquarters in Karachi.[1]
History
The blueprint for infrastructure of the Bank was designed by Akram Khatoon. She presented it in 1988 to then Prime Minister Benazir Bhutto, who approved to set up the bank in December 1988.[2] The bank was incorporated with a paid up capital of PKR 100 million which was subscribed by the state-owned banks.[3][4] Its original charter mandated that the bank would employ women and extend small business loans exclusively to women.[4] he first branch of the bank was opened in Karachi in December 1989, and by 1991, it had 15 branches throughout the country.[4]
Ownership
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]
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]
References
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External links
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