FCIB is a joint venture company of National Bank of Pakistan (NBP) and Water & Power Development Authority (WAPDA). It was incorporated on August 31, 1989 as First Credit & Discount Corporation (Pvt.) Limited (FCDC), a private limited company under the Companies Ordinance 1984 with the objective of catalyzing development of Pakistan’s capital market; especially the corporate debt instrument market. Initially the company successfully managed a number of bonds issues for Water And Power Development Authority (WAPDA) and Civil Aviation Authority. In November 2003 the company was converted to a public limited company. Subsequently in 2004 it acquired an Investment Banking Services license from the Securities and Exchange Commission of Pakistan (SECP) and was renamed as First Credit And Investment Bank Limited (FCIB). FCIB made an initial public offering of Rs. 250 million in August 2008 and has been listed on the Karachi Stock Exchange.