- Introduction
- History
- Unique Charter
- Board of Directors
- Board Sub Committee
- Are easily accessible to women.
- Improve women asset ownership.
- Improve women participation in the labor force.
- Fulfill social responsibility for its users and end users.
First Women Bank Ltd. has a wider vision than any other commercial bank to cater to women’s economic needs and to encourage them into trade, business, industry and the practice of their professions to promote economic prosperity and self-reliance in women of urban and rural areas.
Extract from Finance Division Government of Pakistan Yearbook 2011
It’s all about empowering institutions that empower women.
OUR VISION
To create value for our stakeholders, and contribute towards country’s economic development through mainstreaming woman by creating enabling environment as the dynamic agent of change and prosperity.
OUR MISSION
To be a sustainable bank offering efficient, cost effective and need based financial products and services with special focus to address women’s banking needs through strategic alliances. Improve governance through capacity building and restructuring of the Bank.
CORE VALUES
- Customer Centric
- Performance Oriented
- Honesty, Trust & Integrity
- Liberating People Potential
PACRA RATING
Rating Types
Entity
Current
(28-JUN-22)
Previous
(28-JUN-21)
Long Term
A-
A-
Short Term
A2
A2
Outlook
Developing
Stable
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The Bank came into being as an affirmative action of the Parliament to indicate the Government’s commitment to providing women (who form about half the population) access to formal financial services. The Bank was incorporated as a Scheduled Commercial Bank in the Public Sector as a Public Limited Company on 21st November, 1989 under the Companies Ordinance 1984 as a joint venture of the five largest Commercial Banks and the Government of Pakistan.
- National Bank of Pakistan
- Muslim Commercial Bank Limited
- Allied Bank Limited
- Habib Bank Limited
- United Bank Limited
- 10% of the remaining capital came from the Federal Government
- Microfinance to women under the Group Guarantee Scheme (which was later adopted by microfinance institutions that came into being) and initiated micro and small lending programs in the suburbs and rural areas close to the FWBL branch network.
- Many non-traditional products for the capacity building of women to help them undertake income-generating projects.
- Computer Literacy Training to a large number of women through its Computer. Literacy Centers located in Karachi, Lahore and Islamabad.
SHELTER PROJECTS
FWBL BUSINESS DEVELOPMENT & TRAINING CENTERS
FWBL UNDP PARTNERSHIP
FWBL- CIDA PARTNERSHIP
FWBL/ILO/IPEC
JAFAKASH AURAT
FWBL UNIDO PARTNERSHIP
FWBL GEP
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He is working as Chief Executive Officer for 1LINK (Pvt.) Ltd. since 2016 and as Chairman FWBL since 2021. He is a seasoned banker having spent three decades plus in the sector. He has held several management positions in major financial organizations in disciplines of sales, marketing, product and consumer banking. He has been associated with major financial institutes, i.e., Bank AL Habib, UBL & American Express. In addition, he has also been associated with leading manufacturing companies – Philips Pakistan Limited and Lever Brothers Pakistan. An MBA from the IBA and a Chevening Scholar with an MSc. from the University of Manchester, he also served as a nominee board member from Bank AL Habib and from UBL on the board of 1LINK (Guarantee) Ltd. He is part of the Institute of Business Administration (IBA) Karachi’s visiting faculty of Marketing Department since 1996 and a founder member of Pakistan Freelancers Association (PAFLA) advisory board since 2021.
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Wajahat Rasul Khan has strong Financial Management background with extensive experience of over 35 years in Banking and Financial Management, Strategic Planning and Decision making and Banking Regulatory Operations. He has held senior Management appointments and Committee and Board level positions in Banks and Financial Institutions and leading business groups in Pakistan and abroad in key global markets.
Mr. Khan retired from HBL after over 20 years senior Management appointments; holding senior key positions in the Banks international banking group. He was responsible for operational support to the Bank’s Global network on business development and marketing strategies, capital Planning, Regulatory and Policy framework and Governance issues. He has been instrumental in planning and implementation of Strategies for business development, restructuring and Regulatory Compliance in Global markets.
Earlier, he held key positions in leading Investment Banks and Corporate Finance and Advisory Businesses. He also has extensive experience of Mergers and Acquisitions and Transactional and Assurance assignments whilst working with Peat, Marwick, Mitchell (now KPMG) in the UK.
He is a Certified Director with Certifications from Pakistan Institute of Corporate Governance and Institute of Business Administration.
Mr. Khan participated in several senior Management and Professional and Business Leaderships Programs in Pakistan and abroad. He also participated in Directors Training Programs in Hong Kong and senior level Risk Management Banking Program at INSEAD in France.
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Ms. Bushra Ehsan has more than 37 years of banking experience. She retired as Regional Business Head – Central, SVP from First Women Bank Limited. She possessed outstanding banking professional experience with excellent industry knowledge, understanding of market dynamics affecting business strategy from time to time. She is having expertise in marketing and selling, acquainted with updated banking regulations and extensive banking knowledge and management skills. Proficient in generating policies and procedures to add value in the smoothness of operations of the organization. She has experience of establishing new branch offices and developing investments and having skilled in establishing lasting banking relationships. She is Member of Board of Bunyad Foundation since 2017 to date and Member of Board of Association for Creation of Employment since 2000 to date. She has done Masters in Economics and having Diploma of Diplomaed Associateship of the Institute of Bankers in Pakistan. (Part-I) She has also received the Certificate for Directors Training Program of Corporate Governance from The Institute of Chartered Accountants of Pakistan (ICAP).
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Mr. Sheharyar Ahmad is a seasoned public policy and finance professional with extensive experience in government and international organizations. Currently serving as the Director to the Minister of Finance & Revenue. Mr. Sheharyar leads key initiatives for the Ministry of Finance & Revenue related to public finances, tax administration, and regulatory policy.
He holds an M.S. in Public Policy & Data Analytics from Carnegie Mellon University and a BSc. in Economics & Mathematics. A recipient of the Fulbright Award. Mr. Sheharyar stood first nationally in the highly competitive Central Services exam, securing a position in the prestigious Pakistan Administrative Service. He is a Certified Independent Director and a V20 Climate Prosperity Fellow 2024-2025.
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President & CEO- First Women Bank Limited
Mr. Farrukh Iqbal Khan, President & CEO First Women Bank Ltd., is a career banker with over 30 years of experience in the areas of Credit, General Banking, Operations, Digital Banking, Corporate Governance, Insurance and Mutual Funds Management.
Prior to his appointment as President FWBL, Mr. Iqbal was working with Askari Bank as SEVP / Group Head Operations, where he was actively involved in the strategic planning of the Bank. He played a vital role in the day-to-day decision-making of the Bank’s core areas such as Business, HR, Finance, Information Technology as well as liaising with regulatory institutions.
His interests and commitment enabled him to avail opportunities which helped in shaping him into a competent and successful banker. He has also held key positions with Askari Bank such as the Chief Credit Officer and Head of Audit.
Mr. Iqbal also served as the Chairman of the Board of Directors of 1Link (Private) Limited, as well as Director on the Board of Askari General Insurance Company Ltd. (AGICO) and Askari Investment Management (AIM).
He started his career in 1993 as a Central Banker with the State Bank of Pakistan, where he served for 10 years and played an active role in the formulation of various regulatory frameworks. Later, he moved to Commercial Banking.
Academically, Mr. Iqbal has a Master’s Degree in Business Administration. Professionally, he is CISA (USA) and CICA (USA) qualified, along with a Banking Diploma from the Institute of Bankers Pakistan.
He has also received the Certificate for Directors Education from the Pakistan Institute of Corporate Governance.
Human Resource, Nomination and Compensation Committee
Risk and Compliance Committee
IT Committee
Audit Committee
- Ms. Naghmana Alamgir Hashmi
Chairperson - Ms. Bushra Ehsan
Member - Mr. Muhammad Najeeb Agrawalla
Member - Mr. Farrukh Iqbal Khan
Member
- Ms. Sumbul Munir
Chairperson - Mr. Wajahat Rasul Khan
Member - Mr. Farrukh Iqbal Khan
Member
- Mr. Muhammad Najeeb Agrawalla
Chairman - Ms. Naghmana Alamgir Hashmi
Member - Mr. Farrukh Iqbal Khan
Member
- Mr. Wajahat Rasul Khan
Chairman - Ms. Bushra Ehsan
Member - Ms. Sumbul Munir
Member
- Management Team
- Other Information
- Awards & Achievements
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Mr. Aamir Zuberi
Head Risk Management Division
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Mr. Farrukh
Iqbal Khan
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Mr. Dildar Ali Khawaja
Audit Division
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Mr. Aamir Zuberi
Head Risk Management Division
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Mr. Dildar Ali Khawaja
Audit Division
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Mr. Faisal Hussain
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Mr. Furqan Yaser
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Mr. Irfan Malik
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Mr. Muhammad Farrukh
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Ms. Nazia Zeeshan
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Ms. Sakina Alam
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Mr. Syed
Muhammad Raza
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Ms. Zarina Sial
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Executive Committee
- Mr. Farrukh Iqbal Khan (President & CEO FWBL)
- Mr. Aamir Zuberi Head Risk Management (Chief Risk Officer) – Member
- Mr. Faisal Hussain (Head Business Division) – Member
- Mr. Furqan Yaser (Company Secretary / Head Legal) – Member
- Mr. Irfan Malik (Head Operations) – Member
- Mr. Muhammad Farrukh (Chief Financial Officer) – Member
- Ms. Nazia Zeeshan – Acting Head Treasury Division
- Mr. Syed Muhammad Raza (Head IT) – Member
- Ms. Sakina Alam (Head HR) – Member
- Ms. Zarina Sial (Head Compliance) – Member
Assets & Liabilities Management Committee
- Mr. Farrukh Iqbal Khan (President & CEO FWBL)
- Mr. Aamir Zuberi Head Risk Management (Chief Risk Officer)
- Mr. Muhammad Farrukh – Member (Chief Financial Officer)
- Mr. Faisal Hussain – Member (Head Business)
- Ms. Nazia Zeeshan – Acting Head Treasury Division
COMPANY SECRETARY & HEAD LEGAL
- Mr. Furqan Yaser
LEGAL ADVISORS
- Mr. Abdul Hameed Chohan ASC (Central Region)
- M/s. Imran Ameer Law Associates (South Region)
- Ms. Shahina Akbar ASC (North Region)
- M/s. Shahid Anwar Bajwa & CO. (HR HO Karachi)
AUDITORS
- BDO Ebrahim & Co
TAX CONSULTANTS
- Grant Thorton Anjum Rahman, Chartered Accountants
Best CSR BANK
(2017)
Winner of the Best CSR Bank -2017.
(2016)
EFP Award for Excellence in women Empowerment.
Brand of the Year
(2013)
Ms. Tahira Raza President & CEO FWBL receiving Brand of the year award from the Governor Punjab Mr. Muhammad Sarwar.
Consumer Choice Award
2013
Ms. Shaheen Zamir Head of Marketing, PR & Entrepreneurship Development receiving the Consumer Choice Award from Mian Zahid Hussain, Advisor to the Chief Minister (Caretaker) Government of Sindh.
Brand of the Year
(2011 & 2012)
Ms. Shaheen Zamir Head of Marketing, PR & Entrepreneurship Development receiving the Brand Award from the Federal Minister for Finance Dr. Abdul Hafeez Shaikh.
Brand of the Year
(2010)
Mrs. Shafqat Sultana, President FWBL, receiving Brand of the year award from the Prime Minister of Pakistan, Mr. Yousuf Raza Gilani.
Citi PPAF Micro-Entrepreneurship Award
(2008)
Two awards for Client of Jakafash Aurat Project.
Ms. Kubra Asghar micro-borrower receiving two Awards from the then Advisor to Prime Minister of Finance, Mr. Shaukat Tarin.
Global Micro Entrepreneurship
Award (2005)
Runners-up Award for client of FWBL / ILO / IPEC Micro-Credit Programme
Ms. Naseem Bibi receiving the award from Country Director, United Nations Development Programme, Mr. Haoliang Xu.
Asian Banking Award
(2005)
Runners-up Award for FWBL / ILO / IPEC
Micro-Credit Programme for combating Child LabourEFP Award for Excellence in women Empowerment.
Leader in Micro-Finance
(2001)
First Women Bank Ltd. was awarded “Leader in Micro-Finance” due to its recognition in Micro-Finance Products & Services by Women World Banking
Euromoney Excellence Award
(1994)
For Low Administrative Cost
ILO Geneva Study
(1992)
Three major innovations in Management in Pakistan:
- First Women Bank Ltd.
- Edhi Trust
- LUMS
- Introduction
- History
- Unique Charter
- Board of Directors
- Board Sub Committee
- Management Team
- Other Information
- Awards & Achievements
- Are easily accessible to women.
- Improve women asset ownership.
- Improve women participation in the labor force.
- Fulfill social responsibility for its users and end users.
First Women Bank Ltd. has a wider vision than any other commercial bank to cater to women’s economic needs and to encourage them into trade, business, industry and the practice of their professions to promote economic prosperity and self-reliance in women of urban and rural areas.
Extract from Finance Division Government of Pakistan Yearbook 2011
It’s all about empowering institutions that empower women.
OUR VISION
To create value for our stakeholders, and contribute towards country’s economic development through mainstreaming woman by creating enabling environment as the dynamic agent of change and prosperity.
OUR MISSION
To be a sustainable bank offering efficient, cost effective and need based financial products and services with special focus to address women’s banking needs through strategic alliances. Improve governance through capacity building and restructuring of the Bank.
CORE VALUES
- Customer Centric
- Performance Oriented
- Honesty, Trust & Integrity
- Liberating People Potential
PACRA RATING
Rating Types
Entity
Current
(28-JUN-22)
Previous
(28-JUN-21)
Long Term
A-
A-
Short Term
A2
A2
Outlook
Developing
Stable
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The Bank came into being as an affirmative action of the Parliament to indicate the Government’s commitment to providing women (who form about half the population) access to formal financial services. The Bank was incorporated as a Scheduled Commercial Bank in the Public Sector as a Public Limited Company on 21st November, 1989 under the Companies Ordinance 1984 as a joint venture of the five largest Commercial Banks and the Government of Pakistan.
- National Bank of Pakistan
- Muslim Commercial Bank Limited
- Allied Bank Limited
- Habib Bank Limited
- United Bank Limited
- 10% of the remaining capital came from the Federal Government
- Microfinance to women under the Group Guarantee Scheme (which was later adopted by microfinance institutions that came into being) and initiated micro and small lending programs in the suburbs and rural areas close to the FWBL branch network.
- Many non-traditional products for the capacity building of women to help them undertake income-generating projects.
- Computer Literacy Training to a large number of women through its Computer. Literacy Centers located in Karachi, Lahore and Islamabad.
SHELTER PROJECTS
FWBL BUSINESS DEVELOPMENT & TRAINING CENTERS
FWBL UNDP PARTNERSHIP
FWBL- CIDA PARTNERSHIP
FWBL/ILO/IPEC
JAFAKASH AURAT
FWBL UNIDO PARTNERSHIP
FWBL GEP


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
He is working as Chief Executive Officer for 1LINK (Pvt.) Ltd. since 2016 and as Chairman FWBL since 2021. He is a seasoned banker having spent three decades plus in the sector. He has held several management positions in major financial organizations in disciplines of sales, marketing, product and consumer banking. He has been associated with major financial institutes, i.e., Bank AL Habib, UBL & American Express. In addition, he has also been associated with leading manufacturing companies – Philips Pakistan Limited and Lever Brothers Pakistan. An MBA from the IBA and a Chevening Scholar with an MSc. from the University of Manchester, he also served as a nominee board member from Bank AL Habib and from UBL on the board of 1LINK (Guarantee) Ltd. He is part of the Institute of Business Administration (IBA) Karachi’s visiting faculty of Marketing Department since 1996 and a founder member of Pakistan Freelancers Association (PAFLA) advisory board since 2021.

Wajahat Rasul Khan has strong Financial Management background with extensive experience of over 35 years in Banking and Financial Management, Strategic Planning and Decision making and Banking Regulatory Operations. He has held senior Management appointments and Committee and Board level positions in Banks and Financial Institutions and leading business groups in Pakistan and abroad in key global markets.
Mr. Khan retired from HBL after over 20 years senior Management appointments; holding senior key positions in the Banks international banking group. He was responsible for operational support to the Bank’s Global network on business development and marketing strategies, capital Planning, Regulatory and Policy framework and Governance issues. He has been instrumental in planning and implementation of Strategies for business development, restructuring and Regulatory Compliance in Global markets.
Earlier, he held key positions in leading Investment Banks and Corporate Finance and Advisory Businesses. He also has extensive experience of Mergers and Acquisitions and Transactional and Assurance assignments whilst working with Peat, Marwick, Mitchell (now KPMG) in the UK.
He is a Certified Director with Certifications from Pakistan Institute of Corporate Governance and Institute of Business Administration.
Mr. Khan participated in several senior Management and Professional and Business Leaderships Programs in Pakistan and abroad. He also participated in Directors Training Programs in Hong Kong and senior level Risk Management Banking Program at INSEAD in France.

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Ms. Bushra Ehsan has more than 37 years of banking experience. She retired as Regional Business Head – Central, SVP from First Women Bank Limited. She possessed outstanding banking professional experience with excellent industry knowledge, understanding of market dynamics affecting business strategy from time to time. She is having expertise in marketing and selling, acquainted with updated banking regulations and extensive banking knowledge and management skills. Proficient in generating policies and procedures to add value in the smoothness of operations of the organization. She has experience of establishing new branch offices and developing investments and having skilled in establishing lasting banking relationships. She is Member of Board of Bunyad Foundation since 2017 to date and Member of Board of Association for Creation of Employment since 2000 to date. She has done Masters in Economics and having Diploma of Diplomaed Associateship of the Institute of Bankers in Pakistan. (Part-I) She has also received the Certificate for Directors Training Program of Corporate Governance from The Institute of Chartered Accountants of Pakistan (ICAP).
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Mr. Sheharyar Ahmad is a seasoned public policy and finance professional with extensive experience in government and international organizations. Currently serving as the Director to the Minister of Finance & Revenue. Mr. Sheharyar leads key initiatives for the Ministry of Finance & Revenue related to public finances, tax administration, and regulatory policy.
He holds an M.S. in Public Policy & Data Analytics from Carnegie Mellon University and a BSc. in Economics & Mathematics. A recipient of the Fulbright Award. Mr. Sheharyar stood first nationally in the highly competitive Central Services exam, securing a position in the prestigious Pakistan Administrative Service. He is a Certified Independent Director and a V20 Climate Prosperity Fellow 2024-2025.
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President & CEO- First Women Bank Limited
Mr. Farrukh Iqbal Khan, President & CEO First Women Bank Ltd., is a career banker with over 30 years of experience in the areas of Credit, General Banking, Operations, Digital Banking, Corporate Governance, Insurance and Mutual Funds Management.
Prior to his appointment as President FWBL, Mr. Iqbal was working with Askari Bank as SEVP / Group Head Operations, where he was actively involved in the strategic planning of the Bank. He played a vital role in the day-to-day decision-making of the Bank’s core areas such as Business, HR, Finance, Information Technology as well as liaising with regulatory institutions.
His interests and commitment enabled him to avail opportunities which helped in shaping him into a competent and successful banker. He has also held key positions with Askari Bank such as the Chief Credit Officer and Head of Audit.
Mr. Iqbal also served as the Chairman of the Board of Directors of 1Link (Private) Limited, as well as Director on the Board of Askari General Insurance Company Ltd. (AGICO) and Askari Investment Management (AIM).
He started his career in 1993 as a Central Banker with the State Bank of Pakistan, where he served for 10 years and played an active role in the formulation of various regulatory frameworks. Later, he moved to Commercial Banking.
Academically, Mr. Iqbal has a Master’s Degree in Business Administration. Professionally, he is CISA (USA) and CICA (USA) qualified, along with a Banking Diploma from the Institute of Bankers Pakistan.
He has also received the Certificate for Directors Education from the Pakistan Institute of Corporate Governance.
Human Resource, Nomination and Compensation Committee
Risk and Compliance Committee
IT Committee
Audit Committee
- Ms. Naghmana Alamgir Hashmi
Chairperson - Ms. Bushra Ehsan
Member - Mr. Muhammad Najeeb Agrawalla
Member - Mr. Farrukh Iqbal Khan
Member
- Ms. Sumbul Munir
Chairperson - Mr. Wajahat Rasul Khan
Member - Mr. Farrukh Iqbal Khan
Member
- Mr. Muhammad Najeeb Agrawalla
Chairman - Ms. Naghmana Alamgir Hashmi
Member - Mr. Farrukh Iqbal Khan
Member
- Mr. Wajahat Rasul Khan
Chairman - Ms. Bushra Ehsan
Member - Ms. Sumbul Munir
Member
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Mr. Aamir Zuberi
Head Risk Management Division
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Mr. Farrukh
Iqbal Khan
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Mr. Dildar Ali Khawaja
Audit Division
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Mr. Aamir Zuberi
Head Risk Management Division
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Mr. Dildar Ali Khawaja
Audit Division
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Mr. Faisal Hussain
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Mr. Furqan Yaser
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Mr. Irfan Malik
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Mr. Muhammad Farrukh
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Ms. Nazia Zeeshan
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Ms. Sakina Alam
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Mr. Syed
Muhammad Raza
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Ms. Zarina Sial
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Executive Committee
- Mr. Farrukh Iqbal Khan (President & CEO FWBL)
- Mr. Aamir Zuberi Head Risk Management (Chief Risk Officer) – Member
- Mr. Faisal Hussain (Head Business Division) – Member
- Mr. Furqan Yaser (Company Secretary / Head Legal) – Member
- Mr. Irfan Malik (Head Operations) – Member
- Mr. Muhammad Farrukh (Chief Financial Officer) – Member
- Ms. Nazia Zeeshan – Acting Head Treasury Division
- Mr. Syed Muhammad Raza (Head IT) – Member
- Ms. Sakina Alam (Head HR) – Member
- Ms. Zarina Sial (Head Compliance) – Member
Assets & Liabilities Management Committee
- Mr. Farrukh Iqbal Khan (President & CEO FWBL)
- Mr. Aamir Zuberi Head Risk Management (Chief Risk Officer)
- Mr. Muhammad Farrukh - Member (Chief Financial Officer)
- Mr. Faisal Hussain – Member (Head Business)
- Ms. Nazia Zeeshan – Acting Head Treasury Division
COMPANY SECRETARY & HEAD LEGAL
- Mr. Furqan Yaser
LEGAL ADVISORS
- Mr. Abdul Hameed Chohan ASC (Central Region)
- M/s. Imran Ameer Law Associates (South Region)
- Ms. Shahina Akbar ASC (North Region)
- M/s. Shahid Anwar Bajwa & CO. (HR HO Karachi)
AUDITORS
- BDO Ebrahim & Co
TAX CONSULTANTS
- Grant Thorton Anjum Rahman, Chartered Accountants
Best CSR BANK
(2017)
Winner of the Best CSR Bank -2017.
(2016)
EFP Award for Excellence in women Empowerment.
Brand of the Year
(2013)
Ms. Tahira Raza President & CEO FWBL receiving Brand of the year award from the Governor Punjab Mr. Muhammad Sarwar.
Consumer Choice Award
2013
Ms. Shaheen Zamir Head of Marketing, PR & Entrepreneurship Development receiving the Consumer Choice Award from Mian Zahid Hussain, Advisor to the Chief Minister (Caretaker) Government of Sindh.
Brand of the Year
(2011 & 2012)
Ms. Shaheen Zamir Head of Marketing, PR & Entrepreneurship Development receiving the Brand Award from the Federal Minister for Finance Dr. Abdul Hafeez Shaikh.
Brand of the Year
(2010)
Mrs. Shafqat Sultana, President FWBL, receiving Brand of the year award from the Prime Minister of Pakistan, Mr. Yousuf Raza Gilani.
Citi PPAF Micro-Entrepreneurship Award
(2008)
Two awards for Client of Jakafash Aurat Project.
Ms. Kubra Asghar micro-borrower receiving two Awards from the then Advisor to Prime Minister of Finance, Mr. Shaukat Tarin.
Global Micro Entrepreneurship
Award (2005)
Runners-up Award for client of FWBL / ILO / IPEC Micro-Credit Programme
Ms. Naseem Bibi receiving the award from Country Director, United Nations Development Programme, Mr. Haoliang Xu.
Asian Banking Award
(2005)
Runners-up Award for FWBL / ILO / IPEC
Micro-Credit Programme for combating Child LabourEFP Award for Excellence in women Empowerment.
Leader in Micro-Finance
(2001)
First Women Bank Ltd. was awarded “Leader in Micro-Finance” due to its recognition in Micro-Finance Products & Services by Women World Banking
Euromoney Excellence Award
(1994)
For Low Administrative Cost
ILO Geneva Study
(1992)
Three major innovations in Management in Pakistan:
- First Women Bank Ltd.
- Edhi Trust
- LUMS