ISLAMABAD: A leading Middle Eastern company has made a historic investment in Pakistan’s financial sector in collaboration with SIFC.

The United Arab Emirates’ 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 is committed to further investing billions of rupees in Pakistan’s financial and other sectors.

This milestone in privatization in Pakistan is a clear testament to the growing confidence in Pakistan in global markets.

The positive assessment of the IMF and the improvement in the global rating gave a new dimension to Pakistan’s reform process. SIFC has played a key role in Pakistan’s economic and reform achievements.