First Women Bank

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

First Women Bank Limited
TypePrivate
IndustryBanking
Capital Markets
FoundedKarachi, December 2, 1988 (1988-12-02)
HeadquartersHead office
Karachi, Pakistan
Key people
Farrukh Iqbal Khan (president and CEO)
ProductsLoans, credit cards, debit cards, Savings, Consumer Banking, Bancassurance etc.
Websitewww.fwbl.com.pk

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]

Privatization

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

References
  1. "Unique Charter » First Women Bank". Fwbl.com.pk. 2002-11-12. Retrieved 2016-09-04.
  2. "History » First Women Bank". Fwbl.com.pk. 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.


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