First Women Bank is a programmed Commercial bank and a financial institute that improves and empowers the socio-economic state of women. The late Benazir Bhutto, first Prime minister of an Islamic World took steps to establish such organization which fulfills the necessities of women entrepreneurs, after that she came up with a though of launching a bank to meet these challenges. After that the first Women Bank commenced its operations in 1989. The short form of First Women Bank is FWBL. In 1984 under the Companies Ordinance, the bank was integrated as a Planned Commercial bank in the community as a Public limited company on November 21st 1989.
On 2nd December, bank was commenced with a paid capital of Rs100 million from which 10% was paid by the Federal government and the rest was paid by the five leading banks in various proportions and they are Muslim Commercial Bank Limited, Allied bank Limited, National Bank Limited, Habib bank Limited and United bank Limited. To cater women, bank plays an important role at all levels of economic activities, their credit policy is to endorse asset rights for women, according to their policy women have 50% of shares and have kept women as a managing director even have hired 50% or more women as employees in the bank.
The bank has got many awards for its achievements, the first award was given in 1992 which was ILO Geneva Study, second was in 1994 Euro Money Excellence Award, Leader in Micro finance in 2001, Asian Banking award in 2005,Global Micro-Entrepreneurship Award in 2008, Citi PPAF Micro-Entrepreneurship in 2008 and Brand of the year award (Women Banking) in 2010. Mrs. Shafqat Sultana is the president/CEO of the bank.
The bank with its speechless repute has launched its branches in more than 40 cities in the country. Dr. Fateh Muhammad Malik inaugurated International Islamic University branch while Fatima Jinnah Women University was inaugurated by Prof.Dr.Samina Amin Qadir V.C. A Globally recognized brand singer Pakistan Ltd popularly known as “Singer” has joined hands with First Women Bank to facilitate customers on shop at Singer Plus retail stores, as they have the largest retail chain in Pakistan with more than 160 nationwide Singer Plus retail Stores. Even the Pakistan Institute of Tourism and Hotel Management (PITHM) Ministry of Tourism Government Sindh has also signed an agreement to organize training courses which includes capacity building of women and development of skills.
In Micro Finance the bank has broken new ground and is the leader of Micro finance for its pioneering products and services FWBL’s Micro finance has three main strategy which they follow are extending Micro-credit to rural and urban women, offering wide-ranging support services and research, documentation and complaint of women centric data.
