Islamabad: The Ministry of Foreign Affairs of Pakistan has firmly rejected recent commentary regarding financial deposits from the United Arab Emirates (UAE) held with the State Bank of Pakistan (SBP). The commentary, which was described as misleading and unfounded, suggested inaccuracies about the nature of these financial transactions.

According to the Ministry of Foreign Affairs, the deposits were established under bilateral commercial agreements, underscoring the UAE’s support for Pakistan’s economic stability. The Government of Pakistan, through the SBP, is in the process of returning the matured deposits to the UAE as per mutually agreed terms. The ministry emphasized that this is a standard financial procedure and any portrayal to the contrary is incorrect.

The longstanding partnership between Pakistan and the UAE is characterized by trust and cooperation in various sectors, including trade, investment, and defense, alongside strong people-to-people connections. The relationship has endured over the years, with notable contributions from His Highness, the late Sheikh Zayed bin Sultan Al Nahyan, in fostering this bond.

Pakistan remains dedicated to enhancing its relationship with the UAE, aiming for a prosperous future shared by both nations.