Pakistan has firmly rejected what it described as “misleading and unfounded” commentary regarding financial deposits placed by the United Arab Emirates with the State Bank of Pakistan (SBP), clarifying the matter pertains to routine financial arrangements between the two countries.
In a statement issued on Saturday, the Foreign Office said the deposits were made under bilateral commercial agreements and reflected the U.A.E.’s continued support for Pakistan’s economic stability and growth.
It said that, in line with mutually agreed terms, the Government of Pakistan, through the SBP, is returning the deposits upon their maturity. “This is a routine financial transaction, and any attempt to portray it otherwise is erroneous and misleading,” it emphasized.
Reaffirming the deep-rooted relationship between the two countries, the Foreign Office highlighted that Pakistan and the U.A.E. enjoy a longstanding, fraternal partnership based on trust and strategic cooperation in key areas such as trade, investment, defense, and people-to-people exchanges.
The statement also paid tribute to the late Sheikh Zayed bin Sultan Al Nahyan, acknowledging his pivotal role in strengthening bilateral ties and his special affection for Pakistan. Pakistan reiterated its commitment to further enhancing its enduring partnership with the U.A.E., aiming for a shared and prosperous future.