ISLAMABAD: Pakistan’s historic privatization has been hailed as a sign of restoring global confidence.
A leading Middle Eastern company, with the support of SIFC, has made a historic investment in Pakistan’s financial sector. The UAE’s International Holding Company (IHC) has completed the privatization of First Women Bank for $5 billion.
IHC oversees more than 1,300 subsidiaries with a market value of $240 billion. IHC’s main plan is to transform the bank into a modern, artificial intelligence-based digital commercial bank.
The company’s priority projects include promoting digitalization and world-class systems in Pakistan. IHC’s subsidiary International Resources Holding is also active in mining and energy projects in Pakistan.
IHC has expressed its commitment to further invest billions of rupees in Pakistan’s financial and other sectors. This milestone in privatization in Pakistan is a clear evidence of the growing confidence in Pakistan in global markets.
The IMF’s positive assessment and improvement in global ratings have given a new dimension to Pakistan’s reform process. SIFC plays a key role in Pakistan’s economic and reform successes.
