Pakistan Rejects Claims Over UAE Deposits, Calls Transaction Routine
By Shahzad Paracha :
Pakistan’s Ministry of Foreign Affairs has dismissed recent commentary regarding financial deposits placed by the United Arab Emirates with the State Bank of Pakistan, describing the claims as misleading and unfounded.
In a statement issued on Saturday, the ministry said the funds had been deposited under bilateral commercial agreements as part of the UAE’s support for Pakistan’s economic stability. Officials clarified that the deposits had now matured and were being returned to the UAE in accordance with the agreed terms.
The ministry stressed that the repayment was a routine financial transaction conducted through the State Bank of Pakistan and warned against attempts to portray the process in a misleading manner.
It added that Pakistan and the UAE maintain a longstanding and close partnership based on mutual trust and cooperation across a range of sectors, including trade, investment and defence. The relationship also reflects strong people-to-people connections between the two countries.
The statement highlighted the historical role of the UAE’s founding father, Sheikh Zayed bin Sultan Al Nahyan, noting that Pakistan continues to value his contribution in establishing and strengthening ties between the two nations.
The ministry said Pakistan remained committed to further deepening its relationship with the UAE and advancing cooperation for shared economic growth and prosperity.
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