THE sale of the loss-making First Women Bank to a large investment company based in the UAE for a modest $14.6m, albeit small in scale, is nonetheless a welcome development. The sale of the government’s entire stake of 82.64pc in the bank to the International Holding Company, under what is being touted as a ‘government-to-government’ deal with the UAE, to a major player controlling assets worth $240bn globally sends positive signals, even if the amount is limited. Yet the fact that it took the government 31 years to sell the bank, despite repeated attempts since its inclusion in the privatisation list in 1994,........

© Dawn