Islamabad: Pakistan has officially dismissed claims surrounding the nature of United Arab Emirates deposits held with the State Bank of Pakistan. The government asserted that these deposits were part of bilateral commercial agreements and are now being returned as per agreed terms, countering any misleading interpretations.

According to Radio Pakistan, spokesperson for the Ministry of Foreign Affairs, Tahir Andrabi, stated that the deposits were established to support Pakistan’s economic stability and prosperity. Andrabi emphasized that returning these matured deposits is a standard financial procedure and warned against misrepresenting the transaction as anything other than routine.

Andrabi highlighted the deep-rooted partnership between Pakistan and the UAE, characterized by collaboration in trade, investment, defense, and cultural exchanges. He noted that this relationship, fostered by the late Sheikh Zayed bin Sultan Al Nahyan, continues to strengthen over time. Pakistan remains dedicated to enhancing this strategic cooperation for mutual benefit, Andrabi added.