ISLAMABAD: Prime Minister Shehbaz Sharif on Friday hailed the acquisition of First Women Bank Ltd (FWBL) by Abu Dhabi-based International Holding Company (IHC) as a milestone in Pakistan-UAE economic ties, saying the deal would pave the way for more joint ventures and partnerships across diverse sectors.

Speaking at a signing ceremony, the prime minister described the transaction as “the first drop of rain” in a broader effort to deepen economic collaboration with the United Arab Emirates.

The event marked the official transfer of a majority stake in FWBL to IHC under a government-to-government (G2G) framework. The UAE delegation was led by........

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