FWBL promised full govt backing

ISLAMABAD: The National Assembly’s Standing Committee on Finance, Revenue, Planning, and Development met here under the chair of Fauzia Wahab and discussed the performance of the First Women Bank Limited (FWBL).  The Standing Committee took serious note of the problems and the challenges faced and assured its management of solving them at priority basis so that this special purpose public entity could successfully be run and made an asset for Pakistan financial sector and provide fair opportunities to the women of Pakistan.

According to National Assembly Spokesman, President, First Women Bank Limited, told the committee that FWBL’s paid up capital stands at Rs284 million and the shareholders equity at Rs1093 million. The bank president further stated that FWBL has Rs11,566 million deposits and has advanced Rs7,393 million. The bank has gathered Rs13,596 million as total assets with the profit of Rs44 million and, net asset value of per share of Rs.38.55, she added.
The bank not only provides complete banking service but also some support services exclusively for the women like computer literacy etc and the bank has a collaboration with different national, international private, public and non-governmental organisations like UNDP, MOWD, NRSP etc, she told the body. The standing committee was also informed that since the government has earmarked the bank for the privatisation, its activities have been stopped.
She further elaborated that the Bank is facing challenges like implementation of Basel II, minimum capital requirement, organisational restructuring and human resource re-organisation etc wherein it looks forward to the government for immediate intervention.
Meeting was attended by, Syed Faisal Saleh Hayat, Abdul Rashid Godil, Nighat Parveen Mir, MNAs Kashmala Tariq and Khwaja Muhammad Asif besides officers from Ministry of Finance, Revenue, Planning and Development and FWBL.-Online

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